General Electric Co.’s credit rating was cut by S&P Global Ratings on concern that the industrial giant may add debt to support future acquisitions, Bloomberg reported. The long-term corporate rating for GE and GE Capital Global Holdings LLC was reduced to AA- from AA+, S&P said Friday in a statement. It said GE’s outlook is stable. “We assume that the increase in the company’s leverage will, at least for the next couple of years, more likely stem from potential future acquisitions than substantial leveraged share repurchases or significant underfunded post-retirement benefit obligations,” S&P said in the statement.
