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Research Update: Federal Home Loan Bank of Chicago Rating Raised To 'AA+/A-1+'; Outlook Stable Jul 09 Product Image

Research Update: Federal Home Loan Bank of Chicago Rating Raised To 'AA+/A-1+'; Outlook Stable Jul 09

  • ID: 1871725
  • July 2009
  • Standard & Poors

FEATURED COMPANIES

  • Federal Home Loan Banks
  • MORE

Abstract
The FHLB System is highly systemically important to the U.S. housing markets. We have raised our counterparty credit rating on FHLB–Chicago to 'AA+/A-1+' from 'AA /A-1+'. We expect the bank to maintain its strong financial profile. On July 1, 2009, Standard & Poor's Ratings Services raised its counterparty credit rating on the Federal Home Loan Bank of Chicago (FHLB-Chicago) to 'AA+/A-1+' from 'AA/A-1+'. The outlook is stable. Our 'AA+/A-1+' counterparty credit rating on FHLB-Chicago reflects the wholesale bank's strong asset quality, solid balance-sheet liquidity, low funding costs, and improving but adequate risk management. The rating includes a two-notch uplift from its stand-alone credit profile, reflecting our expectation that government support would be forthcoming if needed because of the high systemic...

Companies mentioned in this report are:
- Federal Home Loan Bank of Chicago
- Federal Home Loan Bank of San Francisco
- Federal Home Loan Bank of Boston
- Federal Home Loan Bank of Des Moines
- Federal Home Loan Bank of Atlanta
- Federal Home Loan Bank of New York
- Federal Home Loan Bank of Cincinnati
- Federal Home Loan READ MORE >

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- Federal Home Loan Bank of Chicago
- Federal Home Loan Bank of San Francisco
- Federal Home Loan Bank of Boston
- Federal Home Loan Bank of Des Moines
- Federal Home Loan Bank of Atlanta
- Federal Home Loan Bank of New York
- Federal Home Loan Bank of Cincinnati
- Federal Home Loan Bank of Seattle
- Federal Home Loan Bank of Indianapolis
- Federal Home Loan Bank of Topeka
- Federal Home Loan Bank of Dallas
- Federal Home Loan Banks
- Federal Home Loan Bank of Pittsburgh

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

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