NEW YORK (Standard&Poor's) Nov. 21, 2002—Standard&Poor's Ratings Services on Nov. 19 assigned its 'BBB-' rating to Xcel Energy Inc.'s $230 million 7.5% convertible senior notes due 2007. The rating was placed on CreditWatch with developing implications. The senior unsecured debt is convertible, at the option of the holder, at any time on or before maturity, into shares of Xcel's common stock. These notes are privately placed with institutional investors. The notes and the common stock issuable on conversion of the notes have not been registered under the U.S. Securities Act of 1933 or the securities laws of any other jurisdiction. Proceeds will be used to pay down $100 million of debt borrowed recently to complete the
