CFC Releases Initial Results From 2012 Key Ratio Trend Analysis
2013年5月4日 - 2:48AM
Marketwired
The National Rural Utilities Cooperative Finance Corporation (CFC)
(NYSE: NRU.CL) (NYSE: NRC.CL) has reported preliminary findings
from its annual Key Ratio Trend Analysis (KRTA), based on 2012
operational results from a segment of electric distribution
cooperatives. National figures represent each ratio's median.
"This year's preliminary data show co-op management and boards
have maintained healthy systems despite difficult economic times --
including the steepest decline in kilowatt-hour sales on record,"
said Rich Larochelle, CFC senior vice president, Corporate
Relations.
Preliminary KRTA data are based on information submitted by 703
electric cooperatives for the year ending Dec. 31, 2012, as
compared with 2011 KRTA results from the same group of
cooperatives. Emerging trends include:
- Cooperatives maintained strong financial
positions. For the preliminary group of reporting
cooperatives, the median system's equity as a percentage of assets
increased to 42.43 percent, up slightly from the 2011 median of
41.99 percent for the same group. Coverage ratios remained
relatively unchanged. The median times interest earned ratio (TIER)
for the group improved from 2.36 in 2011 to 2.39; median modified
debt service coverage (MDSC) decreased slightly from 1.79 in 2011
to 1.77. Distribution cooperatives continued to take advantage of
low interest rates, reflected in a continuing decline in the
blended interest rate. The median rate for the group dropped from
4.79 percent in 2011 to 4.59 percent, the lowest in at least five
years.
- Sales took a steep decline. The
preliminary group's median kilowatt-hour sales dropped by 2.13
percent in 2012, following a 2011 decrease of 0.34 percent. Median
consumer growth was up slightly but remained sluggish, increasing
from 0.28 percent in 2011 to 0.41 percent.
- Consumers continued to make timely
payments. Electric bills remained a priority for cooperative
members in 2012. Overdue bills (over 60 days) as a percentage of
operating revenue decreased from 0.15 percent in 2011 to 0.13
percent. The median amount written off as a percent of operating
revenue also declined, from 0.17 percent in 2011 to 0.15
percent.
The final KRTA report, which will include data from
approximately 815 distribution cooperatives, will be completed by
mid-summer.
About CFC The National Rural Utilities
Cooperative Finance Corporation (CFC) is a nonprofit finance
cooperative created and owned by America's electric cooperative
network. With approximately $21 billion in assets, CFC is committed
to providing unparalleled industry expertise, flexibility and
responsiveness to serve the needs of our member-owners. Visit us
online at www.nrucfc.coop.
About KRTA CFC developed the KRTA in 1975
to provide electric cooperative managers and board members a
complete picture of their system's financial performance and to
help them analyze results compared with medians from other electric
cooperatives. Medians are used as opposed to averages, which can be
skewed by extreme responses. The KRTA is based on unaudited data
reported by electric distribution cooperatives.
Contact: Brad Captain Corporate Communications Email
Contact 800-424-2954
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