TORONTO (Standard&Poor's) July 19, 2013--Standard&Poor's Ratings Services today said General Electric Capital Corp.'s (GECC; AA+/Stable/A-1+) second-quarter results were consistent with our expectations, and do not affect our ratings or outlook on GECC. The company reported a 3% year-on-year revenue decline, and a 9% decline in net income, driven by incremental reductions in ending net investment (ENI), which was also down by 9% year-on-year. Results reflected a combination GECC's ongoing reduction of scale, along with continuing improvement of asset quality and strengthening of its financial profile. Operating segment performance was positive, with Commercial Lending and Leasing (CLL) and Real Estate leading, including gains from divestments. We expect stable ongoing performance in the CLL segment and in the
