S&P: GE unchanged

Standard & Poor's said that an eventual disposition of General Electric Co.'s (AAA/stable/A-1+) appliances segment would not affect the ratings or outlook on the company.

Published reports have indicated that GE may be pursuing the sale of this business, which accounts for less than an estimated 5% of consolidated segment profits, the agency said.

GE has executed substantial shifts in its portfolio of industrial and financial businesses in recent years, with further changes likely, the agency said, noting that as this process continues, S&P expects that GE will remain committed to the highest levels of credit quality, balance demands on cash and take decisive action to address any business segments that become troublesome under the difficult conditions that are likely to persist into 2009.

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