Moody’s gives A1 to GE Capital Global

Moody's Investors Service said it assigned issuer ratings of A1 and Prime-1 to GE Capital Global Holdings, LLC (Global Holdings) with a stable outlook.

The assignment follows the announcement by Global Holdings' ultimate parent General Electric Co. (GE, A1/Prime-1) that it began a realignment and reorganization of the businesses of finance subsidiary General Electric Capital Corp. (GECC, A1/Prime-1). Moody's will withdraw GECC's ratings after GE completes the reorganization, which includes a merger of GECC into GE.

Moody's separately assigned ratings to perpetual preferred stock GE is issuing to current holders of preferred shares issued by GECC. No other ratings of GE or its subsidiaries are affected by these actions.

Moody’s said the A1 rating assigned to Global Holdings is based on strong anticipated support from GE, as well as the Baa2 stand-alone credit profile of the company's consolidated lending and leasing businesses. The reorganization will result in Global Holdings becoming the new holding company of GE's finance operations after the merger of GECC into GE, which GE expects to complete by Dec. 3.

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