OREANDA-NEWS. In Fitch Ratings' opinion, the swap counterparty amendment to GE Business Loan Trust Series 2006-2 is not expected to impact its ratings. The current ratings are as follows:

--Class A 'Asf'; Outlook Negative;

--Class B 'BBBsf'; Outlook Negative;

--Class C 'BBsf'; Outlook Negative;

--Class D 'Bsf'; Outlook Negative.

Fitch does not believe there is any rating impact due to the SWAP counterparty amendment. Under the existing SWAP counterparty agreement, GE Capital Services (currently provided by GE Capital Treasury Services U. S. LLC [GECTS]) is the current SWAP counterparty. The amendment would result in Goldman Sachs Bank USA (Goldman) acting as the replacement swap counterparty. Currently, the ratings of Goldman Sachs exceed the threshold for a swap counterparty per Fitch's 'Counterparty Criteria for Structured Finance and Covered Bonds,' dated July 2016.

Furthermore, as protection for the certificateholders, a prepayment provision has been included in the SWAP counterparty agreement. If Goldman were to be downgraded below 'A'/'F1', Goldman would be required to prepay the following month's Net Swap Amount to the trust. As Goldman's position in the SWAP is significantly 'in the money', it is unlikely they would need to prepay in a downgrade event.

For these reasons, Fitch does not expect any rating impact on the 2006-2 trust. However, as detailed in Fitch's April 7, 2016 press release, the notes remain on Negative Outlook. This reflects Fitch's concern with growing obligor concentrations as the transaction continues to amortize. As the number of obligors decline, the risk exposure increases for a single-obligor default within the pool, further limiting the outstanding credit support's ability to sustain the default of a large obligor. Given current amortization and current concentrations, Fitch believes the trust to have an increasing risk exposure to additional obligor defaults.