Fitch Places Goldman Sachs (GS) On Rating Watch Negative

October 13, 2011 4:51 PM EDT
Fitch placed The Goldman Sachs Group, Inc.'s (NYSE: GS) 'A+/F1+' long- and short-term Issuer Default Ratings (IDRs) and 'a+' Viability Rating (VR) on Rating Watch Negative.

Fitch believes that GS's business model, like other global trading and universal banks face structural challenges given its wholesale funding profile and greater reliance on trading revenues.

Fitch said recognizes the steps GS has taken to diversify and extend its funding sources, as well as to de-lever its balance sheet, which will be reviewed in the context of other global financial institutions.

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