NEW YORK (Standard&Poor's) April 21, 2011--Standard&Poor's Ratings Services said today that its ratings on General Electric Capital Corp. (GECC; AA+/Stable/A-1+) are not affected by GECC's good first-quarter results. We continue to view GECC's stand-alone credit profile as 'A'. General Electric Capital Services Inc.--GECC's direct parent--reported net earnings from continuing operations of $1.84 billion, up from $1.06 billion in the sequential quarter and $510 million in the prior year. Revenues were up 3% year-over-year to $13.1 billion; however, excluding the sale of Turkish bank Garanti Bankasi (which generated a $317 million gain), revenues were down 2%. Credit provisions were significantly lower ($1.16 billion versus $2.19 billion in the previous year), reflecting asset-quality improvement across all business lines.
