Fannie Mae-No Politics (FNMA)

[YanksGhost]

Here's even worse news for preferred stock. Standard & Poors rates their credit rating @ D which means its has virtually nil Liquidation Preference and its only value lies inherently on the chance for eventual dividend restoration. The rating on both short term and longterm debt debt is much higher.

Source: Q1 2020 Report 10-Q. Page: 53

This, IMO, means that in any receivership as often gets proposed to wipe out and cancel common stock, that the JPS gets equally and totally massacred.