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Credit Ratings

Investor Relations

  • Ratings Details
  • Subsidiaries
  • Ratings Scale
  • Ratings Details
  • Subsidiaries
  • Ratings Scale
S&P Moody's
  Long-term Issuer A- (OS)
6/23/2010
Baa1 (OS)
3/28/2019
Ratings History
A- (OS)
6/23/2010
Baa1 (OS)
3/28/2019
BBB+ (OP)
6/10/2009
A3 (ON)
10/19/2018
BBB+ (OS)
10/16/2007
A3 (OS)
3/28/2017
BBB (OS)
6/1/2004
A3 (OS)
1/31/2014
  Short-term/Commercial Paper A-2
6/8/2005
P-2
3/28/2019
Ratings History
A-2
6/8/2005
P-2
3/28/2019
A-2
6/1/2005
P-2
10/19/2018
A-2
3/12/2004
P-2
3/28/2017
A-2 (WR)
5/14/2003
P-2
6/9/2005
  Senior Unsecured BBB+
6/23/2010
Baa1
3/28/2019
Ratings History
BBB+
6/23/2010
Baa1
3/28/2019
BBB
10/16/2007
A3
10/19/2018
BBB-
-
A3
3/28/2017
-
A3 (WR)
1/31/2014
Ratings Watch Action Legend: (WP) Watch Positive, (WN) Watch Negative, (WU) Watch Uncertain, (WR) Watch Removed, (OP) Outlook Positive, (ON) Outlook Negative, (OS) Outlook Stable, (OD) Outlook Developing
S&P Moody's
  Northern States Power Company - MN
Long-term Issuer A- (OS)
6/23/2010
A2 (OS)
10/19/2018
BBB+ (OP)
6/10/2009
A2 (OS)
1/31/2014
BBB+ (OS)
10/16/2007
A3 (WP)
11/8/2013
BBB (OS)
6/1/2004
A3 (OS)
4/19/2004
Short-term/Commercial Paper A-2
2/14/2006
P-1
10/19/2018
A-2
3/12/2004
P-1
1/31/2014
A-2 (WR)
5/14/2003
P-2 (WP)
11/8/2013
A-3 (WU)
-
P-2
3/15/2006
Trust Preferred BB+ (WP)
5/14/2003
Baa2 (WR)
9/5/2002
BB+ (WU)
6/24/2002
Baa1 (WN)
8/16/2002
BBB
-
A2 (WN)
7/29/2002
-
A2
10/18/2001
Senior Secured Debt A
5/31/2018
Aa3
10/19/2018
A
10/16/2007
Aa3
1/31/2014
A-
7/22/2004
A1 (WP)
11/8/2013
BBB+ (WR)
3/12/2004
A1
8/3/2009
Senior Unsecured BBB+
11/5/2008
A2
10/19/2018
BBB
10/16/2007
A2
8/9/2016
BBB-
-
A2
11/6/2014
-
A2
1/31/2014
Long-term Issuer A- (OS)
6/23/2010
A2 (OS)
10/19/2018
Short-term/Commercial Paper A-2
2/14/2006
P-1
10/19/2018
Senior Secured Debt A
5/31/2018
Aa3
10/19/2018
Senior Unsecured -
A2
10/19/2018
  Northern States Power Company - WI
Long-term Issuer A- (OS)
6/23/2010
-
Short-term/Commercial Paper A-2
3/24/2011
P-1
10/19/2018
Senior Secured Debt A
9/6/2007
Aa3
10/19/2018
Senior Unsecured -
A2 (OS)
10/19/2018
  Public Service Company of Colorado
Long-term Issuer A- (OS)
6/23/2010
A3 (OS)
10/19/2018
Short-term/Commercial Paper A-2
10/24/2005
P-2
10/19/2018
Senior Secured Debt A
10/16/2007
A1
10/19/2018
Senior Unsecured -
A3
10/19/2018
  Southwestern Public Service Company
Long-term Issuer A- (OS)
6/23/2010
Baa2 (OS)
10/19/2018
Short-term/Commercial Paper A-2
11/22/2005
P-2
10/19/2018
Senior Secured Debt A
2/14/2013
A3
10/19/2018
Senior Unsecured A-
6/23/2010
Baa2
10/19/2018

Ratings Watch Action Legend: (WP) Watch Positive, (WN) Watch Negative, (WU) Watch Uncertain, (WR) Watch Removed, (OP) Outlook Positive, (ON) Outlook Negative, (OS) Outlook Stable, (OD) Outlook Developing
Long-Term Ratings   
Moody's
  • Highest Quality
    (P)Aaa Aaa
  • High Quality
    Aa1 (P)Aa1 (P)Aa2 Aa2 Aa3 (P)Aa3
  • Upper-Medium Quality
    (P)A1 A1 A2 (P)A2 (P)A3 A3
  • Medium-Grade Quality
    Baa1 (P)Baa1 (P)Baa2 Baa2 Baa3 (P)Baa3
  • Substantial Risk
    (P)Ba1 Ba1 Ba2 (P)Ba2 (P)Ba3 Ba3
  • High Risk
    B1 (P)B1 (P)B2 B2 B3 (P)B3
  • Very High Risk
    (P)Caa1 Caa1 Caa2 (P)Caa2 (P)Caa3 Caa3
  • Highly Speculative
    (P)Ca Ca
  • Default
    C (P)C
S&P
  • Extremely Strong
    AAA AAApi AAAt
  • Very Strong
    AA+ AA+pi AA+t AApi Aat AA AA- AA-pi AA-t
  • Strong
    A+ A+pi A+t Api At A A- A-pi A-t
  • Adequate
    BBB+ BBB+pi BBB+t BBB BBBpi BBBt BBB- BBB-pi BBB-t
  • Less Vulnerable
    BB+ BB+pi BB+t BB BBpi BBt BB- BB-pi BB-t
  • More Vulnerable
    B+ B+pi B+t B Bpi Bt B- B-pi B-t
  • Currently Vulnerable
    CCC+ CCC+pi CCC+t CCCpi CCCt CCC CCC- CCC-pi CCC-t
  • Highly Vulnerable
    CCpi CCt CC C+ C+pi C+t C Cpi Ct
  • Selective Default
    SD SDpi SDt
  • Default
    D+ D+pi D+t Dpi Dt D
  • Regulatory Supervision
    R Rpi Rt
Short-Term Ratings   
Moody's
  • Superior
    (P)MIG 1 (P)P-1 (P)VMIG 1 MIG 1 P-1 VMIG 1
  • Strong
    VMIG 2 P-2 MIG 2 (P)VMIG 2 (P)P-2 (P)MIG 2
  • Acceptable
    (P)MIG 3 (P)P-3 (P)VMIG 3 MIG 3 P-3 VMIG 3
  • Not Prime
    NP (P)NP
S&P
  • Extremely Strong
    A-1+
  • Strong
    A-1
  • Satisfactory
    A-2
  • Adequate
    A-3
  • More Vulnerable
    B B-1 B-2 B-3
  • Highly Vulnerable
    C
  • Selective Default
    SD
  • Default
    D
  • Regulatory Supervision
    R
Financial Strength Ratings   
Moody's
  • Exceptional Security
    Aaa
  • Excellent Security
    Aa1 Aa2 Aa3
  • Good Security
    A1 A2 A3
  • Adequate Security
    Baa1 Baa2 Baa3
  • Questionable Security
    Ba1 Ba2 Ba3
  • Poor Security
    B1 B2 B3
  • Very Poor Security
    Caa1 Caa2 Caa3
  • Extremely Poor Security
    Ca C
S&P
  • Extremely Strong
    AAA AAApi
  • Very Strong
    AA+ AA+pi AApi AA AA- AA-pi
  • Strong
    A+ A+pi Api A A- A-pi
  • Good
    BBB+ BBB+pi BBBpi BBB BBB- BBB-pi
  • Marginal
    BB+ BB+pi BB BBpi BB- BB-pi
  • Weak
    B+ B+pi B Bpi B- B-pi
  • Very Weak
    CCC+ CCC+pi CCCpi CCC CCC- CCC-pi
  • Extremely Weak
    CCpi CC
  • Regulatory Action
    R

Issuer ratings are S&P/Moody’s respectively. A security rating is not a recommendation to buy, sell or hold securities and should be evaluateddependently of any other rating. The rating is subject to revision or withdrawal at any time by the assigning rating organization.
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