Ownership, and implied support, by parent General Electric Co. Strong, diverse, and well-managed business franchise Credit quality significantly better than most peers' Aggressive capitalization on a stand-alone basis Highly reliant on wholesale and short-term funding sources, though with significant temporary government support currently Pressure on earnings from rising credit losses in the current tough economic environment Standard&Poor's Ratings Services' 'AAA' rating on General Electric Capital Corp. (GECC) reflects ownership by General Electric Co. (AAA/Negative/A-1+) through General Electric Capital Services Inc. (GECS; --/Negative/A-1+); GECC's strong, well-managed business franchise; its large scale and resources; its relatively good credit quality; and management's debt reduction plan. However, we are concerned about GECC's aggressive financial leverage and high degree of reliance on wholesale
