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S&P ups Xcel
Standard & Poor's said it raised the corporate credit rating BBB+ from BBB on Xcel Energy Inc. and all its vertically integrated utility subsidiaries Northern States Power Co., Public Service Co. of Colorado, and Southwestern Public Service Co. as well as the corporate credit rating on subsidiary Northern States Power Wisconsin to A- from BBB+.
The outlook is stable.
According to S&P, the upgrade reflects Xcel's strengthening business profile, exhibited by supportive regulation, particularly in Colorado, Minnesota, and Wisconsin, where more than 90% of consolidated operating cash flow is derived.
The rating also reflects an aggressive consolidated financial profile, the agency said.
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