S&P gives AA+ to GE Capital EFS

Standard & Poor's said it assigned its AA+ long-term issuer credit rating to GE Capital EFS Financing Inc. (Gecef).

The outlook is negative.

"The rating on Gecef reflects direct credit substitution, based on a guarantee of all of Gecef’s liabilities by General Electric Capital Corp. (GECC)," S&P credit analyst Rian Pressman said in a news release.

The guarantee will be assigned to GE Capital Global Holdings LLC – the successor organization to GECC – upon the merger of GECC into General Electric Co. (GE), which the agency expects to occur by year-end 2015.

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