Report title: Freddie Mac 'AA-' Senior Unsecured Debt Rating Affirmed; Other Ratings On CreditWatch Negative
from S&P Credit Research
861 word report published May 06, 2008

Price $100.00 available for immediate download HTML
Report Overview
 
Search Inside
Abstract: NEW YORK (Standard&Poor's) May 6, 2008--Standard&Poor's Ratings Services said today that it affirmed its 'AAA/Stable/A-1+' senior unsecured debt rating on Freddie Mac and placed its 'AA-' risk to the government, subordinated debt, and preferred stock ratings on Freddie Mac on CreditWatch Negative. "The action was a result of expected lower earnings for 2008 and 2009 and quarterly earnings volatility that is reaching beyond the tolerance for the 'AA-' rating. The weak residential mortgage cycle has now lasted much longer than originally anticipated, pushing the expectation for credit-related expenses higher," said Standard&Poor's credit analyst Victoria Wagner. Freddie Mac's lower core earnings performance, driven primarily by rising credit-related expenses, will continue to pressure capital measures. Credit-related

Brief Excerpt: RESEARCH Ratings Definitions Freddie Mac '##-' Senior Unsecured Debt Rating Affirmed; Other Ratings On CreditWatch Negative Publication date: 06-May-2008 Primary Credit Analyst: Victoria Wagner, New York (1) 212-438-7406; victoria_wagner@standardandpoor...

Report Type: News
Ticker: FRE
Issuer: Freddie Mac
GICS: Thrifts & Mortgage Finance (40102010)
Sector: Global Issuers, Public Finance, Structured Finance
Country: United States
Region: United States
Free Sample: Click Here to Download

Enter the keyword(s) which you would like to search for within this document and click "Search"

 
Also from S&P Credit Research
  • Summary: Freddie Mac  $175.00
    On May 12, 2009, Freddie Mac reported a net loss of $9.9 billion for first-quarter 2009, primarily caused by an $8.8 billion loan-loss provision and an incremental $7.1 billion of other-than-temporary impairment (OTTI) on its private-label ... 
  • Summary: Freddie Mac  $175.00
    Freddie Mac reported a $23.9 billion fourth-quarter 2008 loss on March 11, 2009. The fourth-quarter loss was largely because of an $11.8 billion fair-value, mark-to-market loss on interest rate derivatives, and credit-related expenses of $7.2 ... 
  • Bulletin: Ratings On Freddie Mac Debt Unchanged By Second Draw Under U.S. Treasury Senior Preferred Stock Purchase Agreement  $100.00
    NEW YORK (Standard&Poor's) Jan. 27, 2009--On Jan. 23, 2009, Freddie Mac announced that it was seeking a second draw of around $30 billion to $35 billion under the U.S. Treasury's $100 billion senior preferred stock purchase agreement. This ... 
  • Bulletin: Ratings Based On Freddie Mac's Credit Enhancement Agreements Not Affected By Proposed Amendment  $100.00
    NEW YORK (Standard&Poor's) Jan. 15, 2009--Standard&Poor's Ratings Services reviewed today Freddie Mac's proposed Omnibus Amendment and Agreement to Credit Enhancement Agreements (FMOAA). Standard&Poor's concluded the proposed amendment upon ... 
  • Freddie Mac  $400.00
    U.S. Treasury oversight and support for debt and mortgage-backed securities (MBS) issues Strong geographic diversification in the mortgage portfolio Strong market position in U.S. mortgage finance Government support for its critical mortgage ... 
  • Summary: Freddie Mac  $175.00
    Standard&Poor's Ratings Services' ratings on Federal Home Loan Mortgage Corp. (Freddie Mac) reflect the firm's status as a public policy financial institution under Standard&Poor's criteria for Government Related Entities (GREs), and its role ... 
  • Bulletin: Freddie Mac Reports Sizable $25.3 Billion Third-Quarter Loss From Deferred Tax-Asset Allowance  $100.00
    NEW YORK (Standard&Poor's) Nov. 14, 2008--Freddie Mac today reported a sizable $25.3 billion loss in third-quarter 2008 primarily due to a noncash charge of $14.3 billion related to its establishment of a partial valuation allowance for its ... 
  • Freddie Mac Subordinated Debt Rating Raised To 'A', Removed From CreditWatch  $100.00
    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. ... 
 S&P Credit Research
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.
Price: $100.00