S&P affirms Northern States Power

S&P said it affirmed its ratings on Xcel Energy Inc. subsidiary Northern States Power Co., including the A- issuer credit rating, the A first mortgage bond ratings and the A-2 short-term rating.

The agency also revised the stand-alone credit profile to a from a-.

The outlook is stable.

S&P said the revised assessment of the company's stand-alone credit profile to a from a- reflects expectations that the company's stand-alone financial measures will consistently reflect the higher end of the range for its financial risk profile.

“Specifically, we expect the company to generate funds from operations consistently above 20% of its adjusted debt,” the agency said in a news release.

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