Report title: US Government Places GSEs at Heart of Mortgage Plans (Fannie Mae and Freddie Mac)
from Fitch Research
9 page (4808 word) report published Feb 23, 2009

Price $275.00 available for immediate download
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...Fannie Mae s (FNM) and Freddie Mac s (FRE) AAA/F1+ senior debt ratings reflect the strength of US government support for thes e entities and their debt obligations. The AA- subordinated debt ratings are also in dicative of strong government support for these obligations, demonstrated by the regulator s waiver of interest deferral triggers of the subordinated debt normally outlin ed by the companies regulatory capital requirements. The C/RR6 preferred stock ra tings reflect the susp ension of dividends and deep subordination to US government interests. It remains unclear whether the government will nationalize, privatize or appl y a blended approach to these companies. While significant uncertainties remain regarding the long term future of FNM and FRE, US government plans to alleviate mortgage delinquency and foreclosure rates include a significant role for FNM and FRE over the medium-term. Recent actions including the Homeowner Affordability and Stability Plan significantly...

Report Type: Special Report
Company(ies): Fannie Mae, Freddie Mac
Ticker(s): FNM , FRE
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