NEW YORK (Standard&Poor's) July 25, 2008--Standard&Poor's Ratings Services said today that it affirmed its 'AAA/A-1+' senior unsecured debt ratings on Fannie Mae and Freddie Mac. At the same time, we placed our 'AA-' risk-to-the-government, subordinated debt, and preferred stock ratings on Freddie Mac, and our 'AA-' subordinated debt and preferred stock ratings and 'A+' risk-to-the-government rating on Fannie Mae on CreditWatch Negative. "The affirmation of the senior unsecured debt ratings reflects the strong explicit and implicit support these government-sponsored enterprise (GSE) securities hold in the marketplace," said Standard&Poor's credit analyst Victoria Wagner. The most recent public demonstrations of government support by the U.S. Treasury underscore the key public policy role and the key liquidity
