Debt Securities
Fannie Mae issues a wide variety of debt securities across the yield curve on predefined issuance dates as well as through the reverse inquiry process. This flexibility in our debt issuance provides an abundance of investment opportunities for investors.
Our diversified investor base spans the globe and includes fund managers, commercial banks, pension funds, insurance companies, foreign central banks, corporations, state and local governments, and other municipal authorities. Learn more.
Fannie Mae Credit Ratings
(As of May 19, 2025)
| S&P | Moody's | Fitch | |
|---|---|---|---|
| Long-Term Senior Debt | AA+ | Aa1 | AA+ |
| Short-Term Senior Debt | A-1+ | P-1 | F1+ |
| Preferred Stock | D | Ca(hyb) | C/RR6 |
| Outlook | Stable | Stable | Stable |
On May 19, 2025, Moody’s Investors Service (“Moody’s”) downgraded Fannie Mae’s long-term senior unsecured debt rating to Aa1 from Aaa and changed Fannie Mae’s outlook to stable from negative. This action follows Moody’s downgrade of the U.S. Government to Aa1 on May 16, 2025.
2025 Benchmark Notes Calendar
| 2025 Benchmark Notes Issuance Calendar | |||||
|---|---|---|---|---|---|
| JAN | FEB | MAR | APR | MAY | JUN |
| 8th | 20th | 20th, 27th | 23rd | 14th | 3rd |
| JUL | AUG | SEP | OCT | NOV | DEC |
| 1st, 10th, 23rd | 19th | 3rd, 25th | 1st, 22nd | 5th, 18th | 3rd |
| View 2025 Calendar | |||||
Treasury Bridge™
Allows approved dealers to transact with Fannie Mae and provides information on Fannie Mae’s funding programs.
Debt reports
Access short-term and long-term debt reports as well as the monthly Funding Summary, a year-to-date snapshot of Fannie Mae’s debt outstanding and debt issuance activities.
Debt disclosure documents
Access our Universal Debt Facility Offering Circular, Pricing Supplements, or search for a Debt Document.
