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Bulletin: U.S. Treasury Expands Senior Preferred Stock Purchase Agreement With Fannie Mae And Freddie Mac; No Impact On Ratings Feb 09
Standard & Poors, Feb 2009
Abstract
NEW YORK (Standard & Poor's) Feb. 20, 2009--The U.S. Treasury announced on Feb. 18, 2009, that it is expanding its senior preferred stock purchase agreement with government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac to $200 billion per company--twice the amount found in the original September 2008 agreement. This announcement will have no impact upon Standard & Poor's Ratings Services' current ratings on Fannie Mae's senior unsecured debt (AAA/Stable/A-1+), subordinated debt ('A'), or preferred stock ('C'). Nor does it impact the current ratings on Freddie Mac's senior unsecured debt (AAA/Stable/A-1+), subordinated debt ('A'), or preferred stock ('C'). The Treasury's senior preferred stock purchase agreement with the regulator of Fannie Mae and Freddie Mac--the Federal Housing Finance Agency (FHFA)--coincided with the...
Companies mentioned in this report are: Fannie Mae,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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