S&P ups Northern States Power

S&P said it upgraded its ratings on Northern States Power Co. (NSP-M) to A from A- and its senior unsecured notes A+ from A.

“The Minnesota Public Utilities Commission (PUC) issued a final order authorizing a $306 million aggregate rate increase for Xcel Energy Inc.'s subsidiary Northern States Power Co. (NSP-M) for 2022-2024. As a result, we expect NSP-M's stand-alone S&P Global Ratings-adjusted funds from operations (FFO) to debt to remain robust at 21%-23% through 2025,” S&P said in a press release.

The outlook is stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.