Printer Friendly

WESTERN RESOURCES $100 MIL. 1ST MTGE. BONDS 'A-' BY FITCH --FITCH FINANCIAL WIRE--

 WESTERN RESOURCES $100 MIL. 1ST MTGE. BONDS 'A-' BY FITCH
 --FITCH FINANCIAL WIRE--
 NEW YORK, Aug. 6 /PRNewswire/ -- Western Resources Inc.'s (NYSE: WR) $100 million offering of 7-1/4 percent first mortgage bonds, due August 15, 2002, is rated 'A-' by Fitch. The issue is the final takedown of a shelf registration. Western Resources' name was recently changed from Kansas Power and Light Co.
 Western Resources' new rating reflects the large amount of additional debt incurred to finance the merger with Kansas Gas & Electric Co., as well as the impact of acquiring, at a sizable premium to book value, a lower-rated company with nuclear operations and an off balance sheet lease. The merger with KGE, which is now a wholly owned subsidiary of Western, was consummated on March 31.
 -0- 8/6/92
 /CONTACT: Ed King of Fitch, 212-908-0574/
 (WR) CO: Western Resources Inc. ST: IN: UTI SU: RTG


TM -- NY108 -- 7802 08/06/92 17:53 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Aug 6, 1992
Words:159
Previous Article:GTE REACHES DEFINITIVE AGREEMENTS ON SALE OF LIGHTING BUSINESS
Next Article:FALL AIRFARES TO U.S. VIRGIN ISLANDS PLUNGE 30 PERCENT
Topics:


Related Articles
PUGET SOUND P&L $100 MILLION MEDIUM TERM NOTES RATED 'A-' BY FITCH -- FITCH FINANCIAL WIRE --
PUBLIC SERVICE ELECTRIC & GAS $250 MILLION BONDS RATED 'A' BY FITCH -- FITCH FINANCIAL WIRE --
DUKE POWER $275 MILLION DEBT RATED 'AA' BY FITCH -- FITCH FINANCIAL WIRE --
WESTERN RESOURCES $250 MILLION FIRST MORTGAGE BONDS RATED 'A-' BY FITCH -- FITCH FINANCIAL WIRE --
WESTERN RESOURCES $350 MILLION SHELF DEBT RATED 'A-' BY FITCH -- FITCH FINANCIAL WIRE --
NEW YORK STATE ELECTRIC & GAS $1.0 BILLION SENIOR DEBT RAISED TO 'A-' BY FITCH -- FITCH FINANCIAL WIRE --
VIRGINIA ELECTRIC $100 MIL. PFD. STOCK RATED 'A' BY FITCH --FITCH FINANCIAL WIRE --
TEXAS UTILS $300 MIL. 1ST MTGE & COLL TRUST BDS 'BBB' BY FITCH -- FITCH FINANCIAL WIRE --
WESTERN RESOURCES, KANSAS G&E FIRST MORTGAGE SHELVES 'A-' BY FITCH -- FITCH FINANCIAL WIRE --
WESTERN RESOURCES $100 MILLION 7.65 PERCENT 1ST MORTGAGE BONDS 'A-' BY FITCH -- FITCH FINANCIAL WIRE --

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters