S&P Downgrades Fannie, Freddie Credit Ratings Published August 08, 2011 WASHINGTON -- Officials at Standard & Poor's are downgrading the credit ratings of Fannie Mae and Freddie Mac and other agencies linked to long-term U.S. debt. The agency says it has also lowered the ratings for: farm lenders; long-term U.S. government-backed debt issued by 32 banks and credit unions; and three major clearinghouses, which are used to execute trades of stocks, bonds and options. All the downgrades were from AAA to AA+. S&P says the agencies and banks all have debt that is exposed to economic volatility and a further downgrade of long-term U.S. debt. Officials at Standard & Poor's say they will also indicate shortly how local and state governments will be affected by their decision on Friday to lower the long-term U.S. debt from AAA to AA+. Read more: http://www.foxnews.com/politic.....tings/#ixzz1URyXKuIp |
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