Company: GE
Filing Date: 2025-10-21
Form Type: 10-Q
Source: 0000040545-25-000132
Chunk: 36

Company: GENERAL ELECTRIC CO
Filing Date: 2025-10-21
Form: 10-Q
Item: Item 7
Chunk 36
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 windows. We have repurchased $10.3 billion in total under this authorization.

BORROWINGS. Consolidated total borrowings were $20.8 billion and $19.3 billion at September 30, 2025 and December 31, 2024, respectively, an increase of $1.5 billion, primarily due to new debt issued of $2.0 billion, and currency exchange of $0.8 billion, partially offset by maturities of $1.3 billion. The Company also holds a five-year unsecured revolving credit facility in an aggregate committed amount of $3.0 billion and had zero outstanding at September 30, 2025.

In July 2025, GE Aerospace issued a total of $2.0 billion in aggregate principal amount of senior unsecured debt, comprised of $1.0 billion of 4.3% senior notes due 2030, and $1.0 billion of 4.9% senior notes due 2036 (see Note 10).

CREDIT RATINGS AND CONDITIONS. We have relied, and may continue to rely, on the short- and long-term debt capital markets to fund, among other things, a significant portion of our operations. The cost and availability of debt financing is influenced by our credit ratings. Moody’s Investors Service (Moody’s) and Standard and Poor’s Global Ratings (S&P) currently issue ratings on our short- and long-term debt. On February 14, 2025, Moody's upgraded our long-term rating from Baa1 to A3 and maintained our positive outlook. On March 25, 2025, S&P upgraded our long-term rating from BBB+ to A- and maintained stable outlook. Our credit ratings as of the date of this filing are set forth in the table below.

Moody'sS&POutlookPositiveStableShort termP-2A-2Long termA3A-

Our ratings may be subject to a revision or withdrawal at any time by the assigning rating organization, and each rating should be evaluated independently of any other rating.

Substantially all of the Company's debt agreements in place at September 30, 2025 do not contain material credit rating covenants. Our unused back-up revolving syndicated credit facility contains a customary net debt-to-EBITDA financial covenant, which we satisfied at September 30, 2025.

FOREIGN EXCHANGE RISK. As a result of our global operations, we generate and incur a small portion