Standard & Poor’s Ratings Service late last week dropped its outlook on the debt issues of Fannie Mae, Freddie Mac and the Federal Home Loan Bank System from stable to negative while affirming its respective debt issue ratings. S&P also dropped its outlook for 10 of the 12 Federal Home Loan Banks – excluding the FHLBanks of Chicago and Seattle – from stable to negative while affirming their “AAA” long-term counterparty credit ratings. …