...NEW YORK (S&P Global Ratings) Nov. 15, 2016--S&P Global Ratings today raised its rating on class 1M-1 to 'A+ (sf)' from '###- (sf)' and its rating on class 2M-1 to 'A+ (sf)' from '## (sf)' from Fannie Mae's Connecticut Avenue Securities Series 2014-C02, a credit risk transfer transaction that is the unsecured obligation of Fannie Mae based on the performance of two separate reference pools of first-lien, fixed-rate residential mortgage loans originated between 2012 and 2013. The loans are secured by residential properties to prime borrowers. The rated notes receive credit support from subordination of the unrated notes that are lower in payment priority. The upgrades reflect our opinion that the projected credit support for these classes will be sufficient to cover our projected losses at these rating levels. The upgrades also reflect increased credit support, low cumulative losses to date, a low level of delinquencies, decreased estimated weighted average combined loan-to-value (WA CLTV)...
