Moody's Takes Action on Fannie

Moody's Investors Services has responded to Fannie Mae's recently released timetable for reporting financials by affirming some ratings and leaving others under review for possible downgrade.Specifically, Moody's has affirmed Fannie Mae's senior unsecured debt, short-term debt and Bank Financial Strength ratings but left the government-sponsored enterprise's preferred stock and subordinated debt ratings under review for possible downgrade. The action is similar to that taken by fellow rating agency Fitch (MortgageWire, Aug. 10, 2005). Moody's can be found online at http://www.moodys.com.