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STACR Debt Notes Receive Top NAIC Designations for Fourth Straight Year

Thirteen Bonds Receive Higher 2019 Designations

MCLEAN, Va., June 10, 2020 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today announced that its Structured Agency Credit Risk (STACR®) debt notes have received top designations by the National Association of Insurance Commissioners (NAIC) for the 2019 filing year.

Overall, Freddie Mac notes received 13 upgrades relative to 2018 year-end designations.

2019 Filing Year NAIC Designations Upgrades:

CUSIPDeal Name2018 Designation2019 Designation
3137G0QQ5STACR 2017-DNA3 M2NAIC 2NAIC 1
3137G0RC5STACR 2017-DNA3 M2BNAIC 2NAIC 1
3137G0NE5STACR 2017-HQA1 M2NAIC 2NAIC 1
3137G0NB1STACR 2017-HQA1 M2BNAIC 2NAIC 1
3137G0PU7STACR 2017-HQA2 M2NAIC 2NAIC 1
3137G0QG7STACR 2017-HQA2 M2BNAIC 2NAIC 1
3137G0RL5STACR 2017-HQA3 M2NAIC 2NAIC 1
3137G0RY7STACR 2017-HQA3 M2BNAIC 2NAIC 1
3137G0TH2STACR 2018-DNA1 M2NAIC 2NAIC 1
3137G0TV1STACR 2018-DNA1 M2BNAIC 2NAIC 1
3137G0UD9STACR 2018-HQA1 M2NAIC 3NAIC 2
3137G0UK3STACR 2018-HQA1 M2ANAIC 2NAIC 1
3137G0UR8STACR 2018-HQA1 M2BNAIC 3NAIC 2

Approximately 98 percent of Freddie Mac on the run STACR bonds with a NAIC Designation have a designation of 1, helping to make these securities more attractive to the insurance industry while improving the execution and liquidity of the company’s flagship CRT program. At this time, NAIC has not provided NAIC Price Breakpoints for Freddie Mac’s REMIC Trust and Trust CRT transactions at year-end 2019.

NAIC Designations are the specific alphanumeric symbols in use by the NAIC SVO to denote a category of credit quality. The NAIC's Structured Securities Group (SSG) is responsible for the day-to-day credit quality assessment and valuation of securities owned by state regulated insurance companies. The SVO conducts credit analysis on these securities for the purpose of assigning an NAIC designation and/or unit price. The NAIC designation categories are described on the NAIC’s SSG webpage.

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