GE loses top credit rating

General Electric Co. lost its top credit rating from Standard & Poor’s on Thursday over concerns of rising loan losses and lower earnings at its lending arm, GE Capital.

WASHINGTON (AP) — General Electric Co. lost its top credit rating from Standard & Poor’s on Thursday over concerns of rising loan losses and lower earnings at its lending arm, GE Capital.

The long-expected ratings cut — down one notch to ‘AA+’ from ‘AAA’ — offered further proof that the financial crisis has shaken the foundation of one of the nation’s biggest and traditionally most stable companies.

Tags: general electric, business, economy, ge, credit

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