Four classes of GS Mortgage Securities Corp. mortgage pass-through certificates have been downgraded by Fitch Ratings as a result of changes in the rating agency's subprime loss forecasting assumptions.The downgrades in GSAMP Trust 2005-S1 were as follows: class M-2, from A to BBB (and placed on Rating Watch Negative); class B-1, from BBB to CCC/DR2; class B-2, from BB to C/DR5; and class B-3, from BB-minus to C/DR6. Fitch said the updated subprime assumptions "better capture the deteriorating performance of pools from 2007, 2006, and late 2005."
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