On November 12, 2003, Moody's Investors Service (Moody's) issued a statement announcing the downgrade of its ratings of Kansas City Power & Light Company (KCP&L) securities as follows: senior secured debt rating to A2 from A1; senior unsecured debt and issuer rating to A3 from A2; and short term debt ratings to Prime-2 and VMIG 2 from Prime-1 and VMIG 1, respectively. Moody's also downgraded its rating of trust originated preferred securities issued by KCPL Financing I to Baa1 from A3. Moody's further assigned preliminary ratings of A3 for unsecured debt, Baa1 for subordinated debt and Baa1 for trust originated preferred securities guaranteed by KCP&L which may be issued under KCP&L's currently effective $255 million multiple seniority shelf registration statement. The Moody's statement indicated that the rating outlook for KCP&L is stable.

In its statement, Moody's also affirmed its current ratings and rating outlook for Great Plains Energy securities.

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned hereunto duly authorized.

Date:  November 13, 2003