Fitch Downgrades & Withdraws Goldman Sachs Bond Fund Ratings

NEW YORK--()--Fitch Ratings has downgraded the fund credit quality rating assigned to the Goldman Sachs Limited Maturity Obligations Fund to 'AA' from 'AAA' and affirmed the fund's volatility rating at 'V1'. Subsequently, Fitch has withdrawn both ratings. The fund is managed by Goldman Sachs Asset Management, L.P. (GSAM)

The main driver for the downgrade of the fund credit quality rating is a decrease in the portfolio's weighted average credit quality, as measured by Fitch's Weighted Average Rating Factor (WARF) calculation. The main driver for the affirmation of the fund volatility rating is the stability of the portfolio's market risk profile, as reflected by the short-dated nature of the assets.

Fitch is withdrawing the ratings as the fund has chosen to stop participating in the rating process. Therefore, Fitch will no longer have sufficient information to maintain the ratings. Accordingly, Fitch will no longer provide ratings (or analytical coverage) for the fund.

RATING SENSITIVITIES

Rating Sensitivities do not apply given the rating withdrawal.

For additional information about Fitch bond fund rating guidelines, please review the criteria referenced below, which can be found on Fitch's website.

Additional information is available on www.fitchratings.com

Additional Disclosures

Solicitation Status

https://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=991467

Endorsement Policy

https://www.fitchratings.com/jsp/creditdesk/PolicyRegulation.faces?context=2&detail=31

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
Greg Fayvilevich
Director
+1-212-908-9151
Fitch Ratings, Inc.
33 Whitehall Street
New York, NY 10004
or
Secondary Analyst
Ralph Aurora
Senior Director
+1-212-908-0528
or
Committee Chairperson
Alastair Sewell, CFA
Senior Director
+44 203 530 1147
or
Media Relations
Alyssa Castelli, +1 212-908-0540
alyssa.castelli@fitchratings.com

Contacts

Fitch Ratings
Primary Analyst
Greg Fayvilevich
Director
+1-212-908-9151
Fitch Ratings, Inc.
33 Whitehall Street
New York, NY 10004
or
Secondary Analyst
Ralph Aurora
Senior Director
+1-212-908-0528
or
Committee Chairperson
Alastair Sewell, CFA
Senior Director
+44 203 530 1147
or
Media Relations
Alyssa Castelli, +1 212-908-0540
alyssa.castelli@fitchratings.com