Fitch Downgrades Fannie Mae and Freddie Mac

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The credit ratings of us, mortgage financing companies, Fannie Mae and Freddie Mac. The agency downgraded both companies from AAA to AA Plus yesterday after placing them on watch for a possible downgrade back in May. This comes just one day after downgraded the United States long term credit rating to AA Plus from AAA. That happened on Tuesday. We told you about that. Kristen told you from the floor of the New York Stock Exchange when it broke, the agency had also placed the US on negative watch in May signing the debt ceiling standoff in Washington.