Fannie Mae 'AA-' Ratings Stay On CreditWatch Negative Aug 06

  • ID: 1929770
  • August 2006
  • Standard & Poors
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NEW YORK (Standard & Poor's) Aug. 11, 2006--Standard & Poor's Ratings Services said today that its 'AA-' risk to the government, subordinated debt, and preferred stock ratings on Fannie Mae remain on CreditWatch Negative following the release of the company's 12b-25 filing on Aug. 9. The ratings were initially placed on CreditWatch on Sept. 23, 2004. "While the latest update on Fannie Mae's accounting restatement process revealed some positive developments, it also disclosed an additional accounting error that was discovered as part of the restatement process," said Standard & Poor's credit analyst Victoria Wagner. The new accounting error, involving accounting for master servicing arrangements under SFAS 140, will not result in a significant impact on Fannie Mae's regulatory capital. Given...

Companies mentioned in this report are:
- Fannie Mae

Action: CreditWatch Update

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
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- Fannie Mae

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