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 Freddie Mac with a stable outlook. At the same time, we lowered the risk-to-the-government stand-alone issuer credit rating to 'A-' from 'A', the subordinated debt rating to 'BBB+', and the preferred stock rating to 'BBB-' from 'A-'. The ratings that were lowered are all placed on CreditWatch Negative. "Our expectation of continued government support for the mortgage government-sponsored enterprises, as detailed in the description of their expanded role in the U.S. Treasury's Economic Stimulus Plan released earlier this year, is reflected in our affirmation of the long-term 'AAA' and short-term 'A-1+' senior unsecured debt ratings," said
