NEW YORK (Standard&Poor's) Aug. 26, 2008--Standard&Poor's Ratings Services said today that it affirmed its 'AAA/A-1+' senior unsecured debt rating on Fannie Mae with a stable outlook. At the same time, we lowered our risk-to-the-government standalone issuer credit rating on Fannie Mae to 'A-' from 'A', the subordinated debt rating to 'BBB+' from 'A-', and the preferred stock rating to 'BBB-' from 'A-'. All the ratings we lowered are also placed on CreditWatch Negative. "The affirmation of the long-term 'AAA' and short-term 'A-1+' senior unsecured debt ratings reflect our expectation of continued government support for the viability of Fannie Mae and its senior unsecured debt, as represented in the Treasury's Economic Stimulus Plan released earlier this year,"
