Everyone knew this was coming. GE’s credit rating has been cut to AA+.
The stock is actually ticking up, from $8.49 to $8.90 or so, perhaps out of some relief that it wasn’t cut further, which had been a big fear. A couple weeks ago, there was talk of a catastrophic, four-notch cut, that would’ve hit cash flow. This was only one notch, which should be manageable.
Again though, nobody was treating GE like a AAA-rated company anymore, so the actual change doesn’t mean much by this point.