NEW YORK (Standard&Poor's) Aug. 25, 2003—Standard&Poor's ratings on Freddie Mac ('AAA/A-1+' senior unsecured debt) are not affected by the latest change in senior management that involves the departure of recently appointed CEO Greg Parseghian upon the hiring of his successor, and the departure of the General Counsel, Maud Mater. Freddie Mac's safety and soundness regulator, OFHEO, directed the change in management. The 'AAA/A-1+' senior unsecured debt ratings of Freddie Mac reflect its status as a government-sponsored enterprise (GSE) and its direct and indirect links to the government. Congressional legislation creating Freddie Mac is a statement that it is there to serve a public purpose, which is to promote access to mortgage credit throughout the U.S. by
