CFC Tabulates Initial Results for 2015 Key Ratio Trend Analysis


May 26, 2016

Contact: Brad Captain, Corporate Relations Group

DULLES, Va.—The National Rural Utilities Cooperative Finance Corporation (CFC) has analyzed preliminary data for its 2015 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 780 electric cooperatives for the year ending Dec. 31, 2015. Notable trends include a 1.89 percent decline in kilowatt-hour (kWh) sales for the typical cooperative for the year. That compares with median 2.49 percent kWh growth posted in 2014 and ends a two-year upward trend.

Despite the kWh fall-off, cooperative financial positions remained strong. The median system's equity as a percentage of assets increased to 44.28 percent in 2015 from 43.92 percent in 2014; median modified debt service coverage (MDSC) remained nearly flat at 1.80 compared to 1.82 in 2014; and the median times interest earned ratio (TIER) dropped a bit to 2.49 from 2.63 in 2014.

In 2015, electric cooperatives also saw consumer growth climb 0.58 percent versus 0.52 percent in 2014, while median blended interest rates continued their 15-year slide, hitting 4.14 percent in 2015.

About CFC
Created and owned by America's electric cooperative network, the National Rural Utilities Cooperative Finance Corporation (CFC)—a nonprofit finance cooperative with approximately $24 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

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.