Bulletin: General Electric Capital Corp. Ratings Unaffected By Third-Quarter Results - S&P Global Ratings’ Credit Research

Bulletin: General Electric Capital Corp. Ratings Unaffected By Third-Quarter Results

Bulletin: General Electric Capital Corp. Ratings Unaffected By Third-Quarter Results - S&P Global Ratings’ Credit Research
Bulletin: General Electric Capital Corp. Ratings Unaffected By Third-Quarter Results
Published Oct 15, 2010
Published Oct 15, 2010
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Abstract:

NEW YORK (Standard&Poor's) Oct. 15, 2010--Standard and Poor's Ratings Services said today that General Electric Capital Corp.'s (GECC; AA+/Stable/A-1+) third-quarter results will not affect the ratings on the company. We continue to assess GECC's stand-alone credit profile as 'A'. General Electric Capital Services Inc. (GECS), GECC's direct parent, reported consolidated net earnings from continuing operations of $855 million--up 6x from the year-earlier period. Although results from continuing operations generally met our expectations, a $1.1 billion increase to reserves held for consumer claims related to its discontinued GE Money Japan business drove a consolidated net loss of $249 million at GECS. Improved results from continuing operations reflect a materially lower credit provision ($1.7 billion from $2.9 billion), but a

  
Report Type:

Bulletin

Ticker
GELK
Issuer
GICS
Other Diversified Financial Services (40201020)
Sector
Global Issuers, Public Finance, Structured Finance
Country
Region
Format:
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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MLA:
S&P Global Ratings’ Credit Research. "Bulletin: General Electric Capital Corp. Ratings Unaffected By Third-Quarter Results" Oct 15, 2010. Alacra Store. May 15, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-General-Electric-Capital-Corp-Ratings-Unaffected-By-Third-Quarter-Results-826237>
  
APA:
S&P Global Ratings’ Credit Research. (). Bulletin: General Electric Capital Corp. Ratings Unaffected By Third-Quarter Results Oct 15, 2010. New York, NY: Alacra Store. Retrieved May 15, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-General-Electric-Capital-Corp-Ratings-Unaffected-By-Third-Quarter-Results-826237>
  
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