This report does not constitute a rating action. The following list ranks North American regulated utility companies rated by S&P Global Ratings based on rating, outlook, stand-alone credit profile (SACP), and business and financial risk profile assessment. We rank investment-grade companies (rated'BBB-'or higher) with the same rating and outlook first by SACP, then business risk profile, and then financial risk profile. Speculative-grade companies (rated'BB+'or lower) with the same rating and outlook are ordered by SACP, then financial risk profile, and then business risk profile. If not distinguished by these factors, companies are listed in alphabetical order. The ratings and scores in this report are as of Nov. 1, 2026. Issuer ranking: North American utility companies Issuer
