Go to the Globe and Mail homepage

Jump to main navigationJump to main content

The headquarters of mortgage lender Fannie Mae is shown in Washington September 8, 2008. (JASON REED/Reuters)
The headquarters of mortgage lender Fannie Mae is shown in Washington September 8, 2008. (JASON REED/Reuters)

S&P cuts Freddie Mac, Fannie Mae after U.S. downgrade Add to ...

Standard & Poor's cut Freddie Mac and Fannie Mae's long-term ratings one notch on Monday.

S&P said the downgrades from the top-notch Triple-A were due to its lowering of the U.S. sovereign credit rating late on Friday.

"The downgrades of Fannie Mae and Freddie Mac reflect their direct reliance on the U.S. government," the rating agency said.

More related to this story

Follow us on Twitter: @GlobeInvestor

 

In the know

Most popular video »

Highlights

More from The Globe and Mail

Most Popular Stories