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'AAA' Ratings On Three U.S. Clearinghouses, One CSD, And Select GSEs On Watch Negative After Sovereign Action Jul 11
Standard & Poors, July 2011
Abstract
The 'AAA/A-1+' sovereign credit rating on the U.S. was placed on CreditWatch with negative implications. We are placing the long-term issuer credit ratings and related issue ratings on three 'AAA' rated U.S.-based clearinghouses and one central securities depository (CSD), and select 'AAA' rated government-related entities (GREs), including Fannie Mae, Freddie Mac, select Federal Home Loan Banks, and the Farm Credit System Banks, on CreditWatch Negative. We also placed the ratings of 126 FDIC-guaranteed 'AAA' rated debt issued by 30 financial institutions under the Temporary Liquidity Guarantee Program (TLGP) on CreditWatch Negative. We are placing the short-term ratings on Fannie Mae and Freddie Mac on CreditWatch Negative due to their direct reliance on the U.S. government. The short-term ratings on the...
Companies mentioned in this report are: Federal Home Loan Bank of Atlanta,Fannie Mae,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 New York,Federal Home Loan Bank of Cincinnati,Federal Home Loan Bank of Indianapolis,Federal Home Loan Bank of Topeka,Federal Home Loan Bank of Dallas,Federal Home Loan Banks,Freddie Mac,Options Clearing Corp.,Federal Home Loan Bank of Pittsburgh,The Depository Trust Company,National Securities Clearing Corporation,Farm Credit System Banks,Fixed Income Clearing Corp.
Action: On CreditWatch:Negative
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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