NEW YORK--(BUSINESS WIRE)--Fitch Ratings has assigned an 'A+' rating to the guaranteed medium-term note programme established by The Goldman Sachs Group, Inc. (Goldman); the note rating has been placed on Rating Watch Negative. The issuing entity under the program is Goldman Sachs Financial Products I Limited (GSFP I), which is domiciled in the Cayman Islands.
This rating is based entirely on the rating of parent guarantor The Goldman Sachs Group, Inc. (Goldman). Because Goldman irrevocably and unconditionally guarantees the due and punctual payment of amounts payable by GSFP I under the Programme, it is Fitch's view that the guaranteed programme obligations rank pari passu with senior, unsecured obligations of the Guarantor. Goldman's Issuer Default and debt ratings are listed and updated on Fitch's public website at: www.fitchratings.com/creditdesk/ratings/issr_rtng.cfm?issr_id=80089109&grp_typ_id=4
Fitch notes that the rating is assigned to the Programme and not to the notes issued under the Programme. There is no assurance that notes issued under the Programme will be assigned a rating, or that the rating assigned to a specific issue under the Programme will have the same rating as the rating assigned to the Programme. This rating specifically excludes notes issued under the Programme into Australia.
The Goldman Sachs Group, Inc. is a global bank, providing underwriting, trading, financial advisory, asset management and securities services. Business activities are now divided into four segments:
--Investment Banking;
--Institutional Client Services;
--Investing and Lending; and
--Investment Management.
Fitch assigns the following ratings:
Goldman Sachs Financial Products I Limited
--Long-term senior unsecured 'A+'; Rating Watch Negative.
Additional information is available at 'www.fitchratings.com'. The ratings above were solicited by, or on behalf of, the issuer, and therefore, Fitch has been compensated for the provision of the ratings.
Applicable Criteria and Related Research:
--'Global Financial Institutions Criteria' (Aug. 16, 2011);
--'Securities Firms Criteria' (Aug. 16, 2011);
--'Fitch Places Seven Global Trading and Universal Banks on Rating Watch Negative' (Oct. 13, 2011).
Applicable Criteria and Related Research:
Securities Firms Criteria
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=649173
Global Financial Institutions Rating Criteria
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=649171
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