Fitch Ratings says meaningful reform for government-sponsored enterprises will be delayed by the COVID-19 outbreak.
The economic shock triggered by the COVID-19 pandemic has lowered the chance of "meaningful GSE reform over the next couple of years," the credit rating agency said in a new report.
"At the very least, the coronavirus pandemic has pushed back the timing of releasing the GSEs from government control," it wrote. "The GSEs' ability to raise the massive amounts of capital that they would likely need to fully exit government control could be further challenged by the grim and highly uncertain economic outlook."
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Ryan Tarinelli
Ryan Tarinelli is a reporter at the New York Law Journal. He is based at the New York State Capitol in Albany, New York. He can be reached through email at [email protected]. Follow him on Twitter: @ryantarinelli.
