| Title: | Freddie Mac 'AA-' Senior Unsecured Debt Rating Affirmed; Other Ratings On CreditWatch Negative |
| Price: | $100.00 |
| Publication Date: | May 06, 2008 |
| Report Type: | News |
| 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: ##-May-#### Primary Credit Analyst: Victoria Wagner, New York (#) ###-###-####; victoria_wagner@standardandpoor... |
| Word Count: | 861 |
| Ticker: | FRE |
| Issuer: | Freddie Mac |
| GICS: | Thrifts & Mortgage Finance (40102010) |
| Sector: | Global Issuers, Structured Finance, Public Finance, Financial Institutions, Asset-Backed Securities, Commercial MBS, Residential MBS |
| Country: | United States |
| Region: | United States |
| Format: | 
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