Moody's rates GECC debentures Aa1

Moody's Investors Service said it assigned an Aa1 rating to General Electric Capital Corp.'s benchmark 60-year subordinated debentures, issued in two series in euros and pounds sterling.

The outlook is stable.

According to Moody's, the rating reflects the issuer's underlying Aaa senior rating as well as the securities' priority of claim in GECC's capital structure.

The securities have sufficient equity-like features to qualify for basket C treatment for the first 10 years (50% debt treatment and 50% equity benefit) for financial leverage purposes, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.