New York, November 15, 2013 -- General Electric Company's (GE) announcement on November 15, 2013 that it intends to split off its North American Retail Finance business, which includes its credit card operations, in 2015 is credit negative for GE Capital Credit Card Master Note Trust (Trust), but Moody's is not placing the Trust's notes under review at this time. Moody's believes GE has an incentive, from an economic and a reputational standpoint, for the business to be a financially strong standalone entity post split off. In addition, GE has supported the Trust in the past by removing low credit score receivables and adding credit enhancement to the transactions, and it is likely that GE will take actions to support the Trust in connection with the split off.

Vollständigen Artikel bei Moodys lesen