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FFO/Debt <br />- € S <br />- € S <br />- € S <br />- € S <br />- € S <br />Equity Rati <br />S <br />S <br />S <br />S <br />S <br />Hold Co Debt/Total Debt <br />Xcel Energy Unsecured <br />+ <br />NSP Secured <br />NSPW Secured <br />Aa3 <br />A <br />A+ <br />PSCo Secured <br />SecuredSPS <br />Credit metrics are based on five-year capital <br />plan and do not reflect rating <br />agency adjustments <br />he credit metrics reflect the incremental debt issued for the assumed <br />lag in Uri fuel cost recovery, <br />which are pending 4 <br />regulatory decisions. FFO doesn't include impacts <br />of regulatory lag for <br />fuel recovery (a working capital adjustment). <br />136 <br />