Research Update: Fannie Mae Sep 04
- ID: 1930726
- September 2004
- Standard & Poors
On Sept. 28, 2004, Standard & Poor's Ratings Services said that its 'AA-' risk-to-the-government, subordinated debt, and preferred stock ratings on Fannie Mae remain on CreditWatch Negative where they were placed Sept. 24, 2004, despite the Sept. 27 release of the agreement reached between the Office of Federal Housing Enterprise Oversight (OFHEO) and Fannie Mae. Standard & Poor's views the published agreement as a positive step toward the resolution of the critical findings of internal controls relating to accounting, accounting issues surrounding SFAS 91 and SFAS 133, and regulatory capital compliance matters as cited in OFHEO's "Report of Findings to Date Special Examination of Fannie Mae." Nevertheless, OFHEO's issues surrounding Fannie Mae's regulatory capital adequacy remain unresolved. Until then, Fannie...
Companies mentioned in this report are:
- Fannie Mae
Action: CreditWatch Update
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 >