In July, GE announced it was bringing together its financial services businesses under a common umbrella with the objectives of enhancing our ability to grow globally, better allocate capital, and reduce costs.
Here are some important facts that were left out of today’s Wall Street Journal article that provide context in understanding the strength and diversity of our funding model:
Following is a summary version of GE’s discussion on liquidity as submitted in its 3Q 2008 10Q quarterly filing with the SEC.
Some recent media articles have raised questions about the strength of our credit rating. When the rating agencies confirmed GE’s Triple-A ratings on September 25, 2008, they took into account the most recent and comprehensive quantitative and qualitative information about the company. While it is true that GE’s borrowing costs [...]
Late on Wednesday afternoon, several media outlets reported that GE had provided a new financial outlook for 2009. This is not accurate. The stories ran following a discussion at IESE Business School in Madrid, Spain, at which GE Chairman & CEO Jeff Immelt answered questions from the audience. One question [...]
GE is working with the Federal Reserve to unlock the credit markets for buyers of commercial paper (see definition below). GE supports the Fed’s Commercial Paper Funding Facility (CPFF), because it will add an important liquidity backstop to the $1.5 trillion commercial paper (CP) market. While GE has continued to [...]
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