Getting your player ready...
NEW YORK — Ratings agency Standard & Poor’s reaffirmed its AAA credit rating for General Electric Co. Monday after the company reported a 46 percent drop in fourth-quarter earnings last week — a reprieve for the conglomerate as it tries to keep the top rating despite trouble in its lending unit, GE Capital.
However, S&P analyst Robert Schulz also said that the quarterly results show that 2009 may be more difficult than expected for GE Capital. The financial arm makes loans for everything from consumer credit cards to big commercial energy projects.
