Moody's Investors Service has downgraded 81 tranches from 18 deals issued by Goldman Sachs in 2006 and late 2005 and has placed 15 tranches under review for possible downgrade.Two downgraded tranches remain on review for possible downgrade. The negative rating actions were based on higher-than-expected rates of delinquency, foreclosure, and real estate owned in the underlying collateral relative to credit enhancement levels, Moody's said. The collateral consists primarily of first-lien, fixed- and adjustable-rate alternative-A mortgage loans. The rating agency can be found on the Web at http://www.moodys.com.

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