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S&P Discontinues Public Corporate Governance Scores In The U.S.; Fannie Mae CGS Withdrawn Sep 05 Product Image

S&P Discontinues Public Corporate Governance Scores In The U.S.; Fannie Mae CGS Withdrawn Sep 05

  • ID: 1930627
  • 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

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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