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S&P rates Evergy Missouri bonds A
S&P said it rated Evergy Missouri West Inc.’s planned first mortgage bonds A with a 1+ recovery rating.
“The rating on the first mortgage bonds is one notch higher than the rating on EMW's issuer credit rating of A-, reflecting the benefit from a first-priority lien on substantially all of the utility's real property owned or subsequently acquired,” the agency said in a press release. The 1+ recovery rating indicates the agency’s highest expectation of full recovery in default through overcollateralization of more than 150%.
EMW is expected to use the proceeds for general corporate purposes and to repay debt.
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