SOURCE: National Rural Utilities Cooperative Finance Corporation (NRUCFC)

National Rural Utilities Cooperative Finance Corporation (NRUCFC)

May 21, 2015 16:05 ET

Fitch Issues an 'A' Rating on CFC With 'Stable' Outlook

DULLES, VA--(Marketwired - May 21, 2015) - Fitch Ratings (Fitch) has initiated ratings on the National Rural Utilities Cooperative Finance Corporation (CFC), with a long-term Issuer Default Rating (IDR) of "A" and senior secured rating of "A+" with a "stable" rating outlook (additional ratings listed below).

"Fitch's ratings and outlook reflect the strategic initiatives CFC has implemented to build a solid credit profile, which ultimately benefits our members," CFC CEO Sheldon C. Petersen said.

Fitch highlighted several strengths in its assessment, including CFC's unique competitive position as a cooperative, CFC's strategy to diversify its funding base over time and the strong asset quality of CFC's electric cooperative-focused loan portfolio.

At the close of the third quarter of CFC's fiscal year 2015 (Feb. 28, 2015), 98 percent of CFC's $21.2 billion in gross loans to members were to rural electric systems, with 75 percent to electric distribution cooperatives.

Fitch Rating Actions on CFC
Outlook: Stable
Senior Secured: A+
Long-Term IDR/Senior Unsecured: A
Short-Term Debt/Commercial Paper: F1
Subordinated Deferrable Debt: BBB+

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 agency.

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 more than $22 billion in assets, CFC is committed to providing unparalleled industry expertise, flexibility and responsiveness to serve the needs of our member-owners. CFC is an equal opportunity provider and employer. Visit us online at www.nrucfc.coop.

Contact Information

  • Contacts:
    Brad Captain
    Corporate Relations
    Email Contact
    800-424-2954

    Ling Wang
    Banking & Investor Relations
    Email Contact
    800-424-2954