S&P downgrades mortgage giants Fannie, Freddie | Inquirer Business

S&P downgrades mortgage giants Fannie, Freddie

/ 10:49 PM August 08, 2011

WASHINGTON—Standard & Poor’s downgraded mortgage giants Fannie Mae and Freddie Mac from triple-A to AA+ Monday, citing their direct reliance on the US government, which it downgraded last Friday.

S&P also downgraded 10 out of 12 Federal Home Loan Banks and the senior debt issued by the Federal Farm Credit Banks.

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TAGS: economy, Ratings, S&P, US

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