October 2, 2018 / 2:16 PM / 8 months ago

Moody's places GE ratings under review for downgrade

Oct 2 (Reuters) - Credit ratings agency Moody’s Investor Service said on Tuesday it has placed ratings of General Electric Co and its finance unit under review for a downgrade, a day after the conglomerate replaced its chief executive officer.

The review was prompted by weakness in GE’s power business, Moody’s said.

GE said on Monday it would fall short of its forecast for free cash flow and earnings per share for 2018 due to weakness in the power business and named Larry Culp chief executive officer.

GE shares reversed course to trade down about 2 percent at $11.85 in morning trading.

Reporting by Arunima Banerjee in Bengaluru; Editing by Sriraj Kalluvila

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