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KANSAS CITY POWER & LIGHT COMPANY MORTGAGE BONDS/MEDIUM-TERM NOTES RAISED TO 'A+' BY DUFF & PHELPS

 CHICAGO, June 14 /PRNewswire/ -- Duff & Phelps Credit Rating Co. has raised the rating of Kansas City Power & Light's (KCP&L) outstanding mortgage bonds/secured medium-term notes to `A+' (Single-A-Plus) from `A' (Single-A). KCP&L's environmental improvement revenue refunding bonds, which are secured by mortgage bonds, have also been raised to `A+' (Single-A-Plus) from `A' (Single-A).
 The upgrade action reflects the lower, and expected further reduction in the relative percentage of first mortgage bonds in the capital structure.
 KCP&L's financial measures have improved in recent years as a result of cost containment programs, sales growth, strong internal cash generation, and refinancing of high-cost securities. KCP&L has a well balanced, reasonably competitive rate structure and an adequate, but not excessive, reserve margin; both are positives in an increasingly competitive environment. Rates have not been increased since the late 1980s. The company is expected to maintain a strong financial profile that will enable it to withstand the burdens of increased construction in the mid-1990s; it plans to add combustion turbines in the mid-to-late 1990s to meet higher peak demand growth. No major new baseload capacity additions are planned until after the year 2000.
 Risks for KCP&L include the 40 percent asset concentration related to its interest in the Wolf Creek nuclear plant, performance of that plant, and lack of a fuel adjustment clause. Wolf Creek has to date operated well, with an 85 percent capacity factor in 1992, and a 75 percent capacity factor since 1986.
 KCP&L provides electric service to over 419,000 customers in a 4,700 square mile area in western Missouri and eastern Kansas. About two- thirds of total of sales and revenues are derived Missouri customers.
 -0- 6/14/93
 /CONTACT: John C. Dell of Duff & Phelps Credit Rating Co., 312-368-3161/
 (KLT)


CO: Kansas City Power & Light ST: Missouri IN: UTI SU: RTG

SM -- NY036 -- 1512 06/14/93 10:16 EST
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Publication:PR Newswire
Date:Jun 14, 1993
Words:318
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