Summary
This 8-K filing by General Electric (GE) on April 6, 2012, reports a credit rating downgrade by Moody's Investor Service. Moody's lowered GE's senior unsecured debt rating by one notch from Aa2 to Aa3 and GE Capital Corporation's (GECC) senior unsecured rating by two notches from Aa2 to A1. Importantly, both companies' short-term funding ratings were affirmed at Prime-1, and the outlook for both entities was assigned as stable. GE stated that it does not anticipate any significant operational or funding impacts resulting from this rating adjustment.
Key Highlights
- 1Moody's downgraded GE's senior unsecured debt rating from Aa2 to Aa3.
- 2Moody's downgraded GE Capital Corporation's senior unsecured rating from Aa2 to A1.
- 3Short-term funding ratings for both GE and GECC were affirmed at Prime-1.
- 4The outlook for GE and GECC's ratings was stated as stable by Moody's.
- 5The downgrade followed a review initiated by Moody's on March 19, 2012.
- 6GE does not expect significant operational or funding impacts from the downgrade.
- 7The filing includes standard forward-looking statements and cautionary disclosures.