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S&P Credit Research961 word report
published Nov 05, 2008
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S&P Credit Research
| Abstract: | NEW YORK (Standard&Poor's) Nov. 5, 2008--Standard&Poor's Ratings Services said today that it raised its rating on Freddie Mac's subordinated debt to 'A' from 'BBB+' and removed the rating from CreditWatch Positive where it was placed Sept. 7, 2008. The rating action reflects our view of both the explicit government support these securities enjoy while Freddie Mac operates under conservatorship, and its weakened financial profile. Freddie Mac's primary regulator, the Federal Housing Finance Agency (FHFA) has stated that Freddie Mac will continue to make interest and principal payments on its subordinated debt, even if it fails to maintain required capital levels. As a result, the terms of any Freddie Mac subordinated debt that provide for it to
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| Brief Excerpt: | RESEARCH Ratings Definitions Freddie Mac Subordinated Debt Rating Raised To 'A', Removed From CreditWatch Publication date: 05-Nov-2008 Primary Credit Analyst: Victoria Wagner, New York (1) 212-438-7406; victoria_wagner@standardandpoors.com...
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| Report Type: | Ratings Action
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| Ticker: | FRE
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| Issuer: | Freddie Mac
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| GICS: | Thrifts & Mortgage Finance (40102010)
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| Sector: | Global Issuers, Public Finance, Structured Finance
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| Country: | United States
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| Region: | United States
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| Free Sample: |
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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
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