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Bulletin: Fannie Mae Ratings Unaffected By Potential First Draw On U.S. Treasury Senior Preferred Stock Jan 09
Standard & Poors, Jan 2009
Abstract
NEW YORK (Standard & Poor's) Jan. 27, 2009--On Jan. 26, 2009, Fannie Mae filed an 8-K Report with the SEC indicating that it anticipates making its first draw under the U.S. Treasury's $100 billion senior preferred stock purchase agreement. The Treasury entered into this agreement in September with Fannie Mae's regulator, the Federal Housing Finance Agency (FHFA), with the FHFA acting as Fannie Mae's conservator. This announcement will have no impact upon Standard & Poor's Ratings Services' current ratings on Fannie Mae's senior unsecured debt (AAA/Stable/A-1+), subordinated debt ('A'), and preferred stock ('C'). Fannie Mae has indicated that its preferred stock draw could be in the range of $11 billion to $16 billion--this amount is subject to material revision as...
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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