Fitch Ratings Affirms GMAC 2005-C1 Certificates.

NEW YORK -- Fitch affirms GMAC 2005-C1 commercial mortgage pass-through certificates series as follows:

--$48.4 million class A-1 'AAA';

--$343.9 million class A-1A 'AAA';

--$300 million class A-2 'AAA';

--$187.3 million class A-3 'AAA';

--$68.1 million class A-4 'AAA';

--$157.4 million class A-5 'AAA';

--Interest only class X-1 'AAA';

--Interest only class X-2 'AAA';

--$159.8 million class A-M 'AAA';

--$127.8 million class A-J 'AAA';

--$34 million class B 'AA';

--$12 million class C 'AA-';

--$24 million class D 'A';

--$16 million class E 'A-';

--$16 million class F 'BBB+';

--$16 million class G 'BBB';

--$20 million class H 'BBB-';

--$6 million class J 'BB+';

--$6 million class K 'BB';

--$8 million class L 'BB-';

--$4 million class M 'B+';

--$4 million class N 'B';

--$4 million class O 'B-'.

Fitch does not rate the $22 million class P.

The rating affirmations reflect stable transaction performance and minimal paydown since issuance. As of the May January distribution date, the pool's aggregate certificate balance has decreased 0.88% to $1.58 billion from $1.60 billion at issuance.

Fitch reviewed two credit assessed loans in the transaction, General Motors Building (11.4%) and Loews Miami Beach (1.5%). Both loans maintain their investment grade credit assessments due to stable performance.

The General Motors Building loan is secured by a 1,905,103-square foot (sf) office building with a retail component located in midtown Manhattan, NY. The whole loan comprises six pari-passu A-notes, of which only the A-4 note is included in this transaction. Occupancy as of October 2006 increased to 97% from 94% at issuance.

The Loews Miami Beach loan is secured by a 790-unit full service hotel property located in Miami Beach, FL. The whole loan comprises three pari-passu A-notes, of which only the A-3 note is included in this transaction. As of 3Q06, average daily occupancy increased to 86% from 81% at issuance.

Currently there are five assets in special servicing. The largest two specially serviced assets are multifamily properties located in San Marcos and College Station, TX. The loans on these two assets were originally made to the same borrower. The assets became REO in November 2006. Recent appraisal valuations indicate losses are likely upon the liquidation of these two assets.

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