NEW YORK (Standard&Poor's) July 17, 2009--Standard&Poor's Ratings Services said today that General Electric Capital Corp.'s (GECC; AA+/Stable/A-1+) weak second-quarter earnings were broadly in line with what we expected when we lowered our ratings on GECC and its parent, General Electric Co. (GE), on March 12, 2009. We continue to view GECC's stand-alone credit profile as 'A'. General Electric Capital Services (GECS)--GECC's direct parent--reported consolidated net income of only $156 million, off 94% from the year-earlier period and 84% sequentially. GECC's deteriorating credit performance continues to pressure earnings. Thus, delinquencies, charge-offs, and nonperforming asset levels increased across most of its major businesses. The nonearning asset ratio jumped to 3.58% in the second quarter from 2.79% in the
