DULLES, Va., June 01, 2017 (GLOBE NEWSWIRE) -- The National Rural Utilities Cooperative Finance Corporation (CFC) has analyzed preliminary data for its 2016 Key Ratio Trend Analysis (KRTA), an annual assessment of financial trends among electric distribution cooperatives nationwide. CFC expects to release final KRTA numbers in late June.
Preliminary KRTA results are based on data submitted by 785 electric cooperatives for the year ending December 31, 2016. Notable trends include a 0.54 percent increase in kilowatt-hour (kWh) sales for the typical cooperative for the year. That compares with the median 1.91 percent kWh decrease posted in 2015.
Cooperative financial positions remained strong. The median system’s equity as a percentage of assets increased to 44.88 percent in 2016 from 44.23 percent in 2015; median modified debt service coverage (MDSC) declined slightly to 1.80 compared with 1.82 in 2015; and the median times interest earned ratio (TIER) increased to 2.63 from 2.48 in 2015.
In 2016, electric cooperatives also saw consumer growth climb 0.61 percent versus 0.56 percent in 2015, while median blended interest rates on debt continued their 16-year slide, hitting 4.05 percent in 2016.
About CFC:
Created and owned by America's electric cooperative network, the National Rural Utilities Cooperative Finance Corporation (CFC)—a nonprofit finance cooperative with $25.6 billion in assets—provides unparalleled industry expertise, flexibility and responsiveness to serve the needs of our member-owners. CFC is an equal opportunity provider. Visit us online at www.nrucfc.coop.
About KRTA:
CFC has published KRTA—an annual report that tracks the median value of 145 financial and operational ratios for participating electric distribution cooperatives over the previous five years—since 1975. Based on unaudited data reported by electric distribution cooperatives, KRTA provides electric cooperative CEOs and directors/trustees with a complete picture of their system’s financial performance.