Fannie Mae-No Politics (FNMA)

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S&P "We affirmed our long-term AAA and short-term A-1+ senior unsecured debt ratings on Fannie Mae and Freddie Mac. The outlook is stable. At the same time, we lowered our risk-to-the-government stand-alone issuer credit ratings on Fannie Mae and Freddie Mac to R (regulatory supervision) from A- and withdrew the ratings. We have also revised the CreditWatch listing of the BBB+ subordinated debt ratings on these entities to positive from negative. In addition, we lowered the preferred stock ratings to C from BBB- and removed the ratings from CreditWatch with negative implications. The subordinated debt and preferred stock ratings were originally placed on CreditWatch on Aug. 26, 2008. "

http://www.businessweek.com/investor/content/sep2008/pi20080910_049754.htm?chan=investing_investing+index+page_top+stories