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TEXT-S&P corrects FHLB bonds, assigns negative outlook
April 5, 2012 / 1:47 PM / 5 years ago

TEXT-S&P corrects FHLB bonds, assigns negative outlook

April 5 - Standard & Poor's Ratings Services today corrected its ratings on
seven Federal Home Loan Bank bonds by assigning a negative outlook to the
ratings. On Aug. 16, 2011, we assigned 'AA+' ratings on these bonds, but as a
result of an error, we did not assign an outlook to them.	
	
The negative outlook on these bonds reflects the negative outlook on the 	
long-term rating on the U.S. We expect that the Federal Home Loan Banks, as a 	
government-sponsored entity, will continue to benefit from the implied support 	
of the U.S. government for its systemwide debt securities and will continue 	
normal lending and funding operations. Our ratings on a supported entity 	
typically do not exceed those on its supporting entity.	
	
RATINGS LIST	
	
Ratings Corrected	
                                   To               From	
Federal Home Loan Banks	
 $15 mil step-up bonds 	
 due 09/14/2026                    AA+/Negative     AA+/--	
 $10 mil floating-rate bonds	
 due 09/14/2021                    AA+/Negative     AA+/--	
 $75 mil 2% bonds	
 due 08/24/2017                    AA+/Negative     AA+/--	
 $10 mil floating-rate bonds	
 due 09/14/2021                    AA+/Negative     AA+/--	
 $100 mil 0.55% bonds series 5R-8013	
 due 12/12/2013                    AA+/Negative     AA+/--	
 $1 bil 0.22% bonds	
 due 08/22/2012                    AA+/Negative     AA+/--	
 $15 mil step-up bonds	
 due 08/25/2015                    AA+/Negative     AA+/--	
	
Standard & Poor's, a part of The McGraw-Hill Companies (NYSE:MHP), is the 	
world's foremost provider of credit ratings. With offices in 23 countries, 	
Standard & Poor's is an important part of the world's financial infrastructure 	
and has played a leading role for 150 years in providing investors with 	
information and independent benchmarks for their investment and financial 	
decisions.

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