- Language: English
- Published: October 2012
- Region: Iowa
Research Update: Fannie Mae Sep 04
- ID: 1930182
- September 2004
- Standard & Poors
Standard & Poor's Ratings Services' 'AA-' risk-to-the government rating, subordinated debt ratings, and preferred stock credit ratings on Fannie Mae are placed on CreditWatch Negative due to the accounting and internal control and regulatory capital adequacy issues raised in Office of Federal Housing Enterprise Oversight's (OFHEO) "Report of Findings To-Date," special examination report, and the uncertainty these findings present to the current and previously issued financial statements. The 'AAA/A-1+' senior unsecured debt ratings are affirmed. CreditWatch Negative means that the 'AA-' ratings will either be downgraded one notch or affirmed based on the final resolution of the SEC's informal inquiry, the conclusion and findings of the internal investigation currently taking place at Fannie Mae, the financial impact and outcome of...
Companies mentioned in this report are:
- Fannie Mae
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases. SHOW LESS READ MORE >
- Fannie Mae