EXHIBIT I

RATINGS OF XCEL ENERGY AND
ITS PRINCIPAL UTILITY SUBSIDIARIES

COMPANY		MOODY’S		S&P		FITCH
XCEL ENERGY
	• CORPORATE RATING	Baa3		BBB
	• SENIOR SECURED		—		—
	• SENIOR UNSECURED	Baa3		BBB-		BBB-
	• COMMERCIAL PAPER	NP			A2
	• PREFERRED	Ba2		BB+
		*stable outlook		*credit watch positive		*stable outlook
NSPM
	• CORPORATE RATING	Baa1		BBB
	• SENIOR SECURED		A3	BBB+			A-
	• SENIOR UNSECURED	Baa1		BBB-		BBB+
	• COMMERCIAL PAPER		P2		A2		F2
	• TOPrs	Baa2		BB+
		*stable outlook		*credit watch positive		*stable outlook
NSPW
	• CORPORATE RATING	Baa1		BBB+
	• SENIOR SECURED		A3	BBB+			A-
	• SENIOR UNSECURED	Baa1		BBB		BBB
	• COMMERCIAL PAPER		—		—
		*stable outlook		*credit watch positive		*stable outlook
PSCO
	• CORPORATE RATING	Baa2		BBB
	• SENIOR SECURED	Baa1		BBB+		BBB+
	• SENIOR UNSECURED	Baa2		BBB-		BBB
	• COMMERCIAL PAPER		P2		A2		F2
		*stable outlook		*credit watch positive		*stable outlook
SPS
	• CORPORATE RATING	Baa1		BBB
	• SENIOR SECURED		—		—
	• SENIOR UNSECURED	Baa1		BBB		BBB+
	• COMMERCIAL PAPER		P2		A2		F2
	• TOPrs	Baa2		BB+
		*stable outlook		*credit watch positive		*stable outlook

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