General Electric Co. (GE) is a party to a capital maintenance agreement with Employers Reassurance Corp. (ERAC). In accordance with our guarantee criteria, the ratings and rating outlook on Employers Reassurance Corp. should be equivalent to those on GE, which we upgraded to 'A-' in March 2025. We therefore raised our long-term issuer credit rating on ERAC to 'A-' from 'BBB+'. The stable rating outlook on ERAC reflects that on GE. On Feb. 11, 2026, S&P Global Ratings raised its long-term issuer credit rating on Employers Reassurance Corp. to 'A-' from 'BBB+'. The outlook is stable. The upgrade follows the March 2025 upgrade of GE to 'A-' on improved metrics and strong demand. In April 2024, GE had split into
