NEW YORK (Standard&Poor's CreditWire) Dec. 22, 2000-- Standard&Poor's today assigned a double-'A'-minus rating to Fannie Mae's Subordinated Benchmark Note Program. The rating is based on the company's consistently strong operating performance in recent years, its low risk asset profile, its extraordinary access to low cost funding, and 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 source funds at an economical cost over a wide array of maturities and terms on a global basis. While the company has experienced margin pressure on its portfolio of loans, which are predominantly high quality single-family mortgages, as well as pricing pressure in its mortgage
