Standard&Poor's Ratings Services' 'AAA' long-term counterparty credit rating on General Electric Capital Corp. (GECC) is based on the company's strong, relatively stable earnings from a diverse group of financial services businesses, and its ownership by General Electric Co. (GE; AAA/Stable/A-1+). The ratings also take account of near-term earning pressure owing to weakening general economic conditions; and currently extremely difficult funding conditions, stemming from severe turmoil in the capital markets. With consolidated assets totaling $622 billion at Sept. 30, 2008, ($413 billion commercial; $209 billion consumer) GECC is a premiere provider of credit services to small and middle-market companies, and has a substantial position as a consumer lender. In addition to unparalleled product and customer diversification, GECC is very
