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Article: Fitch Affirms Fannie Mae's 'AAA' IDR; Downgrades Preferred Stock to 'A+'.
- Article from:
- Investment Weekly News
- Article date:
- August 4, 2008
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Fitch Ratings has affirmed Fannie Mae's (NYSE: FNM) long-term Issuer Default Rating (IDR) at 'AAA'. Fitch has also downgraded Fannie Mae's preferred stock rating to 'A+' from 'AA-'. Fannie Mae's preferred stock also remains on Rating Watch Negative, where it was originally placed on May 6. A complete list of ratings is provided at the end of this release.
Today's affirmation of Fannie Mae's long-term IDR and senior debt rating reflect the high probability of external support becoming available and the company's importance to the U.S. housing market. The potential for explicit support has been recently expressed by the U.S. Treasury through its plan to maintain ...