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S&P Discontinues Public Corporate Governance Scores In The U.S.; Fannie Mae CGS Withdrawn Sep 05 Product Image

S&P Discontinues Public Corporate Governance Scores In The U.S.; Fannie Mae CGS Withdrawn Sep 05

  • Published: September 2005
  • Standard & Poors

Abstract
NEW YORK (Standard & Poor's) Sept. 9, 2005--Standard & Poor's Governance Services said today that it will no longer provide public corporate governance scores for U.S. companies, and withdrew its corporate governance score (CGS) on Washington, D.C.-based housing government-sponsored enterprise (GSE) Fannie Mae (FNMA). Earlier, Standard & Poor's lowered Fannie Mae's score to 'CGS-6' from 'CGS-7'. It was lowered to reflect deterioration in the timeliness of disclosure as the company works to complete its financial restatement. Standard & Poor's will continue to monitor Fannie Mae's corporate governance practices as part of its normal credit rating surveillance. Standard & Poor's has historically factored management and governance issues into its ratings processes, and in March 2004 introduced a risk-based approach to determine...

Companies mentioned in this report are:
- Fannie Mae

Action: General Comment

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- Fannie Mae

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