DBRS Assigns Provisional Ratings to GS Mortgage Securities Trust 2010-C1

DBRS has today assigned provisional ratings to the following classes of GS Mortgage Securities Trust, 2010-C1. The trends are Stable.

-- Class A-1 at AAA
-- Class A-2 at AAA
-- Class B at AAA
-- Class C at AA
-- Class D at BBB (high)
-- Class E at BB
-- Class F at B
-- Class G at NR
-- Class X at AAA

The collateral consists of 23 fixed-rate loans secured by 48 commercial properties. The portfolio has a balance of $788,489,108. The pool benefits from low leverage financing with a DBRS weighted- average term DSCR and debt yield of 1.64x and 12.7%, respectively based on the trust amount and a 1.54x and 11.7% based on the whole loan. The pool also benefits from significant amortization as 19.2% of the pool amortizes down by maturity.

DBRS shadow-rates eleven loans, representing 58.4% of the pool, investment grade. The investment-grade shadow-rated loans indicate the long-term stability of the underlying assets.

Note:
All figures are in U.S. dollars unless otherwise noted.
All classes are privately placed pursuant to Rule 144A.

The applicable methodology is CMBS Rating Methodology, which can be found on our website under Methodologies.

This is a Structured Finance CMBS rating.