Moody's affirms GE, GE Capital

Moody's Investors Service said it affirmed all ratings of General Electric Co., General Electric Capital Corp. and their subsidiaries following the company's announcement of its third-quarter earnings, which are within the expectations underlying the existing ratings.

The outlook remains stable.

The agency said that balancing the strength of GE with the potential support needs of GE Capital, it continues to view the credit quality of the consolidated organization as supporting an Aa2 long-term rating with a stable outlook.

GE Capital recorded a pre-tax loss for the third quarter, Moody's said, and elevated credit costs and lower revenues are likely to result in additional pre-tax losses through 2010. However, the agency continues to expect unwavering support for GE Capital from GE, particularly given the company's stated intention to extend the duration of the existing support agreement.

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