...- Legal complaints continue to be filed against Xcel Energy Inc. and its subsidiary Public Service Co. of Colorado (PSCo) related to the 2021 Marshall Fire in Colorado, which burned over 6,000 acres and destroyed or damaged over 1,000 structures. - The growing cases follow the release of the June investigative report by the Boulder County Sheriff's Office that concluded the most probable cause of the second fire ("Trailhead Fire") was hot particles discharged from Xcel's powerlines. - At the same time, Xcel benefits from sufficient cushion in its financial measures to weather incremental costs or weaker regulatory outcomes until such time as additional information on the pending legal risks become available. - We therefore affirmed our ratings on Xcel and its subsidiaries, including Northern States Power Co. (NSP-M), Public Service Co. of Colorado (PSCo), Southwestern Public Service Co. (SPS), and Northern States Power Wisconsin (NSP-W). We revised the outlook on PSCo to negative from stable....
