Summary: GS Municipal Product LLC Series 2006-44TPZ Ratings Lowered To ?A+/A-1? And ?A+?; Custodial Receipts; Residual Certificates; Tender Option Certificates/Bonds Feb 12

Standard & Poors, February 2012

Abstract
Standard & Poor's Ratings Services lowered its rating on GS Municipal Product LLC's series 2006-44TPZ, relating to San Mateo County Community College District, Calif.'s (San Mateo County) general obligation Bonds (Election of 2001) series 2005B and series 2006A, to 'A+/A-1' and 'A+' from 'AA-/A-1+' and 'AA-', respectively. The liquidity facility provided by Wells Fargo & Co. has been extended to Nov. 15, 2012. This action follows Standard & Poor's Nov. 29, 2011, downgrade of its rating on Wells Fargo & Co. to 'A+/A-1' from 'AA-/A-1+' (please see "Standard & Poor's Applies Its Revised Bank Criteria To 37 Of The Largest Rated Banks And Certain Subsidiaries," published Nov. 29, 2011, on RatingsDirect on the Global Credit Portal). The long-term and short-term...

Companies mentioned in this report are: San Mateo Cnty Comnty Coll Dist,GS Muni Product LLC
Action: Downgraded

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

San Mateo Cnty Comnty Coll Dist,GS Muni Product LLC

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