Moody's Affirms CFC's Ratings, 'Stable' Outlook
DULLES, VA, Dec 03, 2012 (MARKETWIRE via COMTEX) --
Moody's Investors Service (Moody's) has maintained its "stable"
rating outlook and affirmed its debt ratings of the National Rural
Utilities Cooperative Finance Corporation (CFC) (NYSE: NRU) (NYSE:
"Moody's outlook reflects the financial stability -- even in
uncertain economic times -- of both CFC and the electric cooperative
network it serves," CFC CEO Sheldon C. Petersen said. The affirmation
follows a stable rating outlook for CFC issued by Standard & Poor's
Ratings Services in October.
In its assessment, the credit rating agency noted CFC's electric
cooperative-focused loan portfolio, its market position and its
diversity of funding sources as strengths.
"The A2 senior unsecured debt rating of [CFC] reflects its
consistently high-quality asset portfolio and its unique market
position as the dominant lender to electric distribution
cooperatives," Moody's said. "We view the electric distribution
segment, [CFC's] principal lending market, to be among the least
volatile across the electric sector..."
At the close of the first quarter of its fiscal year 2013 (Aug. 31,
2012), 97 percent of CFC's $19.5 billion in gross loans to members
were to rural electric systems, with 73 percent to electric
CFC Ratings Affirmed:
Senior Secured: A1
Commercial Paper: P-1
The ratings discussed have the meanings assigned to them by the
rating agency and are not recommendations to buy, sell or hold
securities. They are subject to revision at any time by the rating
The National Rural Utilities Cooperative Finance
Corporation (CFC) is a nonprofit finance cooperative created and
owned by America's electric cooperative network. With approximately
$20 billion in assets, CFC is committed to providing unparalleled
industry expertise, flexibility and responsiveness to serve the needs
of its member-owners. CFC can be found online at www.nrucfc.coop.
Banking & Investor Relations
SOURCE: National Rural Utilities Cooperative Finance Corporation (NRUCFC)
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