Wednesday, August 10, 2011

Standard & Poor’s downgrades Fannie Mae, Freddie Mac

On the heels of its surprise downgrade of U.S. long-term debt from AAA to AA+, Standard & Poor’s has downgraded the credit ratings of Fannie Mae and Freddie Mac.

S&P lowered its credit rating on both Fannie (OTCBB: FNMA) and Freddie (OTCBB: FMCC) one level from AAA to AA+.

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