DBRS Upgrades Three Classes from Two Auto ABS Transactions

DBRS has today upgraded three classes from two auto asset-backed securities (ABS) transactions outlined below:

• $4,705,917 Goldman Sachs Auto Loan Trust 2005-1, Class B from AA to AA (high)
• $2,449,479 Goldman Sachs Auto Loan Trust 2005-1, Class C from BBB to A (low)
• $21,940,000 M&I Auto Loan Trust 2005-1, Class B from A (high) to AA (low)

The upgrades are the result of the improved credit enhancement profiles of the trusts as each trust has seasoned. The review of these transactions is based on information provided by the servicers as of March 2009.

For more detailed analysis in support of the rating actions, DBRS provides Performance Analytics Reports on its website at www.dbrs.com/par. These reports provide updated performance history and insight into available credit enhancement to cover expected remaining losses.

Notes:
All figures are in U.S. dollars unless otherwise noted.

The applicable methodology is DBRS Rating Criteria for U.S. Auto Loan-Backed Transactions, which can be found on our website under Methodologies.

This is a Structured Finance rating.