UPDATE: Standard & Poor’s has issued a full report on the credit ratings of 12 financial institutions. In S&P’s most recent ratings updates, GE and HSBC are the only institutions whose ratings were affirmed, at Triple A and Double A, respectively. Reflecting their concern for the macro-economic environment, S&P lowered both institutions outlook from “stable” to “negative.”

On November 25, 2008, S&P announced it was undertaking a review of major global financial institution issuers in light of the worsening credit and economic environment. Standard & Poor’s on Thursday affirmed GE’s and GE Capital Corporation’s Triple-A credit rating. This affirmation recognizes the continuing fundamental strength of GE.

Standard & Poor’s also said it expects GE to execute on its 2009 operational and funding plan, and recognizing the risk that the macro-economic environment could significantly worsen, has revised its rating outlook from “stable” to “negative.” This change is not a downgrade, nor has GE been put on CreditWatch.

If GE successfully executes on its plan, S&P will reconsider its outlook.

GE has leading business franchises in some of the world’s most essential industries. GE has managed through difficult economic cycles in the past, and we are confident that we will do so again. GE’s focus now is on executing on its plan and performing in 2009 for investors.