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Stock impact report

GE's credit outlook revised to negative at S&P Global [MarketWatch]

General Electric Company (GE) 
Last general electric company earnings: 4/30 04:02 pm Check Earnings Report
US:NYSE Investor Relations: ge.com/investor-relations/overview
Company Research Source: MarketWatch
The outlook for General Electric Co.'s credit rating was revised Friday to "negative" from "stable" at S&P Global Ratings, which citing greater uncertainty in the pace of deleveraging amid the negative impacts on its aviation business from the COVID-19 pandemic. That means GE's BBB+ rating, which is three notches above "junk" territory, is at greater risk of a downgrade. "The outlook revision reflects the potential that GE may be unable to reduce debt leverage to below 3.5X in 2021, should aviation markets fail to start recovering later this year, perhaps in conjunction with a deeper-than-expected economic recession and lengthy recovery worsened by lingering social distancing dynamics," S&P Global said. "In this scenario, the 737 Max fails to return to service this year with resulting further reductions in GE's engine production for the Max." On Thursday, GE said it expected first-quarter adjusted earnings per share to be "materially below" previous guidance, while free cash flow was Show less Read more
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