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Bulletin: Fannie Mae 2006 10-K Filing Does Not Affect Ratings Aug 07
Standard & Poors, Aug 2007
Abstract
NEW YORK (Standard & Poor's) Aug. 16, 2007-Standard & Poor's Ratings Services said today that Fannie Mae's release of its 2006 10-K, moving the company closer to being a current filer of financial statements, does not affect the ratings on Fannie Mae (senior unsecured debt: AAA/Stable/A-1+; risk to the government: AA-/Negative/A-1+; subordinated debt: AA-/Negative/--; preferred stock: AA-/Negative/--). Fannie Mae reported net income of $4.059 billion in 2006, a 36% decline from the previous year. Overall earnings remain quite strong. The decline in earnings year over year reflects a combination of lower net interest income due to margin compression and higher operating expenses. Capital levels were higher and Fannie Mae maintains its compliance with the 30% surplus capital position over its...
Companies mentioned in this report are: Fannie Mae
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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