GE downgraded

Fitch Ratings has downgraded the Long- and Short-Term Issuer Default Ratings (IDRs) for General Electric Company (GE) and GE Capital Global Holdings, LLC (GE Capital) to ‘A+’ and ‘F1’ from ‘AA-‘ and ‘F1+’. The Rating Outlook is Negative. The downgrade of GE’s ratings considers the deterioration in the company’s operating and financial performance including a slower return to higher margins and stronger free cash flow than previously anticipated by Fitch. GE’s performance is being affected by secular changes in the Power segment’s gas turbine business that has reduced long term prospects for growth. Fitch believes the company will maintain a