XELLL NASDAQ

Of US companies ranked in the safest four tenths, about 1 in 3,500 filed for bankruptcy within a year (2020-2025).
If the stock fell to about $0.71 (down 97%), Xcel Energy Inc. 6.25% Junior Subordinated Notes, Series due 2085 would be worth roughly what it owes.
Total debt $40.32B against a stock market value of $48.63B.
Distance to default 8.85 (Merton model): prices to 2026-10-26, balance sheet 2025-09-30, debt counted $21.48B (short-term plus half of long-term), stock volatility 19.4%; Altman Z'' 0.83. A ranking and a back-test, not a forecast.
US fund filings (SEC N-PORT) show under $25M of this company's bonds, so there is no bond page. Its debt may be bank loans or privately placed. How these are computed.