NEW YORK (Standard&Poor's) Aug. 10, 2009--Standard&Poor's Ratings Services said today that its rating on Freddie Mac (AAA/Stable/--) remains unaffected by the company's second-quarter 2009 earnings report of a small $768 million profit. Our rating on Freddie Mac's senior debt (AAA/A-1+), subordinated debt (A), and preferred stock (C) are also unaffected. Freddie Mac is currently operating under regulatory conservatorship. The company's senior debt continues to benefit from implicit U.S. government support. We believe the government will offer extraordinary support if it's needed. Because the period-end net worth was positive, management does not require another draw under the U.S. government's Senior Preferred Stock Purchase agreement. The liquidation preference remains at $51.7 billion ($149.3 billion remaining). During the quarter,
