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BULLETIN: Freddie Mac Announces Change in Senior Management Aug 03
Standard & Poors, Aug 2003
Abstract
NEW YORK (Standard & Poor's) Aug. 25, 2003-Standard & Poor's ratings on Freddie Mac ('AAA/A-1+' senior unsecured debt) are not affected by the latest change in senior management that involves the departure of recently appointed CEO Greg Parseghian upon the hiring of his successor, and the departure of the General Counsel, Maud Mater. Freddie Mac's safety and soundness regulator, OFHEO, directed the change in management. The 'AAA/A-1+' senior unsecured debt ratings of Freddie Mac reflect its status as a government-sponsored enterprise (GSE) and its direct and indirect links to the government. Congressional legislation creating Freddie Mac is a statement that it is there to serve a public purpose, which is to promote access to mortgage credit throughout the U.S. by...
Companies mentioned in this report are: Freddie Mac
Action: S&P Event
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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