NEW YORK (Standard&Poor's CreditWire) April 30, 2001-- Standard&Poor's today assigned its double-'A'-minus rating to Fannie Mae's $1.5 billion subordinated benchmark notes due 2006. The rating is based on the company's consistently strong operating performance in recent years, its low risk asset profile, its exceptional access to low cost funding, and its adequate risk-adjusted capitalization. Management of interest rate risk is facilitated by the company's status as a government-sponsored enterprise, which allows it to fund at an economical cost over a wide array of maturities and terms on a global basis. Although the company has experienced margin pressure on its portfolio of mortgage loans, which are predominantly high-quality single-family mortgages, as well as pricing pressure in its
