Diversity of geography, fuel, and economies, Regulatory support, Plant operating efficiency, and Continuing cost reduction program. Parent company debt increases debt service burden of the utilities. The rating on Public Service Co. of Colorado is based on the consolidated credit profile of Xcel Energy Inc., parent company of Northern States Power Co. (NSP-Minnesota), Northern States Power Wisconsin (NSP-Wisconsin), Public Service of Colorado, and Southwestern Public Service Co. The rating on Minneapolis, Minn.-based Xcel reflects the utilities' solid business profile, which incorporates the generally supportive state regulation that governs each utility's rates, the relatively low-cost power supply and overall fuel diversity, and the diverse geographic service territories. The rating also reflects a heavily leveraged financial profile in which adjusted debt represents
