On June 10, 2013, Standard&Poor's revised the outlook on its long-term rating on the United States of America to stable from negative and affirmed its 'AA+' long-term sovereign credit rating on the U.S. As a result, we are revising the outlooks on our issuer credit ratings on 11 of the 12 Federal Home Loan Banks (FHLBs) to stable from negative. We are also revising our outlooks on the issue-level ratings on Fannie Mae, Freddie Mac, the FHLB System, and the Farm Credit System to stable from negative. In addition, we are affirming the long-term issuer credit ratings and related issue ratings on all of these government-related entities (GREs). NEW YORK (Standard&Poor's) June 10, 2013--Standard&Poor's
