Moody’s cuts GE’s credit rating


General Electric already saw its cherished Triple-A rating taken away by Standard & Poors. Now Moody’s Investors Service has announced a two-notch reduction, taking its rating of GE and its GE Capital subsidiary down to Aa2. However, Moody’s, like S&P, said the outlook following the downgrade was stable.

“This action was not unexpected in the current environment, and while no one likes a downgrade, Moody’s, like S&P, confirmed the fundamental soundness of GE Capital and the strength of our industrial businesses,” said GE Chairman and CEO Jeff Immelt.