Fitch Issues Updated Expected Ratings on GS Mortgage Securities Trust 2014-GC18 Comm'l Mtge P-T Ctfs

NEW YORK--()--Fitch Ratings has updated ratings on three classes of GS Mortgage Securities Trust 2014-GC18 Commercial Mortgage Pass-Through Certificates.

Following the issuance of the expected ratings on Jan. 17, 2014, two interest-only certificates were renamed and one interest-only certificate was added. Fitch expects to rate these interest-only certificates and assign Rating Outlooks as follows:

--$76,563,000a class X-B 'AA-sf'; Outlook Stable;

--$22,273,000a,b class X-C 'BBsf'; Outlook Stable.

a Notional amount and interest-only.

b Privately placed pursuant to Rule 144A.

Fitch does not expect to rate the $66,818,128 interest-only class X-D.

The presale report is available at 'www.fitchratings.com'.

Additional information is available at 'www.fitchratings.com'.

Applicable Criteria and Related Research:

--Criteria for Analyzing Multiborrower U.S. Commercial Mortgage Transactions (August 2013);

--Global Structured Finance Rating Criteria (May 2013);

--Criteria for Special-Purpose Vehicles in Structured Finance Transactions (May 2012);

--U.S. Commercial Mortgage Servicer Rating Criteria (February 2011);

--U.S. Fixed-Rate Multiborrower CMBS Surveillance and Re-REMIC Criteria (December 2013);

--Counterparty Criteria for Structured Finance and Covered Bonds (May 2013).

Applicable Criteria and Related Research:

Criteria for Analyzing Multiborrower U.S. Commercial Mortgage Transactions
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=715757

Global Structured Finance Rating Criteria
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=708661

Criteria for Special-Purpose Vehicles in Structured Finance Transactions – Effective 13 June 2011 to 30 May 2012
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=635249

U.S. Commercial Mortgage Servicer Rating Criteria
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=584005

U.S. Fixed-Rate Multiborrower CMBS Surveillance and Re-REMIC Criteria
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=724961

Counterparty Criteria for Structured Finance and Covered Bonds
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=707155

Additional Disclosure

Solicitation Status
http://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=818158

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

Contacts

Fitch Ratings
Primary Analyst
Melissa Lasker, +1-212-908-0695
Associate Director
Fitch Ratings, Inc.
One State Street Plaza
New York, NY 10004
or
Secondary Analyst
Donald MacMaster, +1-212-908-0379
Analyst
or
Committee Chairperson
Jeffrey Watzke, +1-312-368-2358
Senior Director
or
Media Relations, New York
Sandro Scenga, +1-212-908-0278
sandro.scenga@fitchratings.com

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Contacts

Fitch Ratings
Primary Analyst
Melissa Lasker, +1-212-908-0695
Associate Director
Fitch Ratings, Inc.
One State Street Plaza
New York, NY 10004
or
Secondary Analyst
Donald MacMaster, +1-212-908-0379
Analyst
or
Committee Chairperson
Jeffrey Watzke, +1-312-368-2358
Senior Director
or
Media Relations, New York
Sandro Scenga, +1-212-908-0278
sandro.scenga@fitchratings.com