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3 Min Read BOSTON, March 5 (Reuters) - A go-to lender for U.S. electric cooperatives has $4 billion in exposure to the Texas market, where last month’s deep freeze slammed the finances of several co-ops hit with astronomically high gas and electric prices during the state’s grid blackout. The latest quarterly financial disclosure from the National Rural Utilities Cooperative Finance Corporation (CFC) shows the Texas market accounts for 15% of the lender’s $27.1 billion in outstanding loans. Dulles, Virginia-based CFC has not had any loan defaults in its electric utility loan portfolio since fiscal 2013. Numerous Texas electric co-ops are facing potential bankruptcy due to the massive bills incurred when power prices spiked during the Texas freeze that killed several dozen people and left millions without power for days. ....
By Syndicated Content By Tim McLaughlin BOSTON (Reuters) - A go-to lender for U.S. electric cooperatives has $4 billion in exposure to the Texas market, where last monthâs deep freeze slammed the finances of several co-ops hit with astronomically high gas and electric prices during the stateâs grid blackout. The latest quarterly financial disclosure from the National Rural Utilities Cooperative Finance Corporation (CFC) shows the Texas market accounts for 15% of the lenderâs $27.1 billion in outstanding loans. Dulles, Virginia-based CFC has not had any loan defaults in its electric utility loan portfolio since fiscal 2013. Numerous Texas electric co-ops are facing potential bankruptcy due to the massive bills incurred when power prices spiked during the Texas freeze that killed several dozen people and left millions without power for days. ....
Lender to U.S. electric co-ops carries $4 bln in exposure to waylaid Texas market financialpost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialpost.com Daily Mail and Mail on Sunday newspapers.
Lender to U.S. electric co-ops carries $4 billion in exposure to waylaid Texas market metro.us - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from metro.us Daily Mail and Mail on Sunday newspapers.
Lender to U.S. electric co-ops carries $4 billion in exposure to waylaid Texas market reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.