GE Capital is improving, will not need additional funds

Updated

Earlier today, General Electric (GE) gave an update regarding the health of its GE Capital unit. This move, designed to allay investor concerns that have been brewing since the company reported its second quarter results, followed a similar meeting in March that gave the stock a much-needed boost. Since June, GE has lost its earlier lift; compared to other industrials and conglomerates without an exposure to the financial industry, GE shares have underperformed.

In reaction to losses and rising provisions at GE Capital and a March downgrade of its credit rating, GE has been shrinking the unit. It is in the process of reducing the size of GE Capital to about $400 billion in assets, from more than $600 billion last year and $557 billion at the end of June.

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