TEXT-S&P:GE rating unaffected by purchase Of Avio SpA
December 21, 2012 at 09:17 AM EST
Dec 21 - Standard & Poor's Ratings Services said today that the announcement by General Electric Co. (GE; AA+/Stable/A-1+) that it is purchasing Italy-based aerospace group Avio SpA (not rated) for about EUR3.3 billion does not affect our ratings or outlook on GE. We assume the purchase will be funded from operating cash flow, and we expect it to close around mid to late 2013. The majority of Avio's aviation business is as a long-time supplier to GE's aviation business.