Fitch rates Goldman notes A+/F1+

Fitch Ratings said it assigned A+/F1+ ratings to the issuances under the guaranteed senior secured notes program to be issued by Goldman Sachs Bank (Europe) plc and/or Goldman Sachs International, both wholly owned subsidiaries of the Goldman Sachs Group, Inc.

The agency said that noteholders are granted a first-priority interest in select assets or trading instruments, and the assigned ratings are based on the senior unsecured ratings that Fitch maintains on Goldman, since all program issuances are guaranteed by Goldman for payment and delivery.

Fitch added that it assigns the following ratings with a stable outlook:

• Goldman Sachs Bank's senior secured guaranteed debt A+ and short-term secured guaranteed debt F1+; and

• Goldman Sachs International's senior secured guaranteed debt A+ and short-term, secured guaranteed debt F1+.

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