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Bulletin: Ratings Based On Freddie Mac's Credit Enhancement Agreements Not Affected By Proposed Amendment Jan 09
Standard & Poors, Jan 2009
Abstract
NEW YORK (Standard & Poor's) Jan. 15, 2009--Standard & Poor's Ratings Services reviewed today Freddie Mac's proposed Omnibus Amendment and Agreement to Credit Enhancement Agreements (FMOAA). Standard & Poor's concluded the proposed amendment upon execution will not adversely affect the then current ratings based on Freddie Mac's credit enhancement agreements. Currently, trustees submit completed exhibits to Freddie Mac via fax in order to receive timely payments of principal and interest for debt service or tenders. The FMOAA modifies these draw instructions and will permit trustees to access credit enhancement agreement funds through use of Freddie Mac's wire request system. The system is a web-based application designed to facilitate payment of draw requests. Alternate systems are available if the wire request...
Companies mentioned in this report are: Freddie Mac
Action: Bulletin
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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