NEW YORK--(BUSINESS WIRE)--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 Subsequently, Fitch has withdrawn both ratings.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 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