NEW YORK July 25, 2008--Standard & Poor's Ratings Services said today that it affirmed its 'AAA/A-1+' senior unsecured debt ratings on Fannie Mae and Freddie Mac.At the same time, we placed our 'AA-' risk-to-the-government, subordinated debt, and
preferred stock ratings on Freddie Mac, and our 'AA-' subordinated debt and preferred stock ratings, and 'A+' risk-to-the-government rating on Fannie Mae on CreditWatch Negative.
preferred stock ratings on Freddie Mac, and our 'AA-' subordinated debt and preferred stock ratings, and 'A+' risk-to-the-government rating on Fannie Mae on CreditWatch Negative. "The affirmation of the senior unsecured debt ratings reflects the strong explicit and implicit support these government-sponsored enterprise (GSE) securities hold in the marketplace," said Standard & Poor's credit analyst Victoria Wagner.
The most recent pub
lic demonstrations of government support by the U.S. Treasury underscore the key public policy role and the key liquidity role the congressional chartered GSEs have in the U.S. mortgage markets. This is reflected in the current stable outlook on the senior unsecured debt.
lic demonstrations of government support by the U.S. Treasury underscore the key public policy role and the key liquidity role the congressional chartered GSEs have in the U.S. mortgage markets. This is reflected in the current stable outlook on the senior unsecured debt.For a comlete copy of S&P's news release, please contact Jeff Sexton, New York, (1) 212-438-3448, jeff_sexton@standardandpoors.com
Analyst Contacts:
Victoria Wagner, New York (1) 212-438-7406
Daniel E Teclaw, New York (1) 212-438-8716
Xavier Chavee, New York (1) 212-438-6834
Daniel E Teclaw, New York (1) 212-438-8716
Xavier Chavee, New York (1) 212-438-6834
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