Xcel Energy's utilities have credit supportive regulation with timely cost recovery during a large construction program. We revised the outlook on Xcel to positive from stable. Expectation of strengthening financial measures over intermediate term and ongoing supportive regulation during capital spending phase and strengthening financial measures. On June 10, 2009, Standard&Poor's Ratings Services affirmed 'BBB+' credit ratings and revised the outlook on Xcel Energy Inc. and its rated subsidiaries to positive from stable. The positive outlook recognizes the continued improvement in Xcel's credit metrics and the potential for further improvement in the financial profile during the next 18 months. Realization by the company of sustained metrics of 4.5x interest coverage, above 22% FFO to total debt, and debt
