NEW YORK (Standard&Poor's) March 12, 2014--Standard&Poor's Ratings Services said today that its ratings, including the senior debt ratings, on Fannie Mae (AA+/Stable/A-1+) and Freddie Mac (AA+/Stable/A-1+) are unaffected by U.S. Senate Banking Committee Chairman Tim Johnson (D-S.D.) and Ranking Member Mike Crapo's (R-Idaho) announcement that they had reached an agreement on a housing finance reform proposal--a key component of which is the goal of winding down and ultimately eliminating Fannie and Freddie. They plan to release the draft of their proposal in the coming days and move it to a vote in the committee within weeks. Our ratings on the debt of Fannie and Freddie rely on our assumption of an "almost certain" likelihood of extraordinary
