Fitch Affirms Goldman Sachs Auto Loan Trust 2006-1; Outlooks Revised

NEW YORK--Fitch Ratings affirms Goldman Sachs Auto Loan Trust 2006-1, and revises the Outlooks as indicated below.

The collateral continues to perform within Fitch's base case expectations. Currently, under the credit enhancement structure, the securities can withstand stress scenarios consistent with the ratings assigned and still make full payments of interest and principal in accordance with the terms of the documents.

As before, the ratings on the notes are based on their respective levels of credit. The securities are backed by a pool of prime retail installment sales contracts secured by new and used automobiles and light duty trucks from a diverse pool of manufacturers. All ratings reflect the transaction's sound legal structure and the high quality of the retail auto receivables originated by Huntington National Bank, Ford Motor Credit Co., and Ohio Savings Bank.

Fitch has taken the following rating actions:

--Class A-4 affirmed at 'AAA'; Outlook Stable;

--Class B affirmed at 'A+'; Outlook revised to Stable from Positive;

--Class C affirmed at 'BBB+'; Outlook revised to Stable from Positive;

--Class D affirmed at 'BB+'; Outlook revised to Stable from Positive.

The above ratings reflect the application of Fitch's criteria, available at 'www.fitchratings.com':

--'Rating U.S. Auto Loan-Backed Securitizations: A Tune Up' (May 30, 2007);

--'Global Structured Finance Rating Criteria' (Sept. 30, 2009).

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

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