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GE Aerospace & GE Vernova Ratings and Form-10

Steve Winoker
February 16, 2024

As we shared during 4Q’23 earnings recently, 2024 will be a momentous year as we launch GE Aerospace and GE Vernova as independent public companies in early April. Our businesses are ready to go, reaching notable milestones over the last week, which we wanted to highlight today.

We are pleased that rating agencies have confirmed investment-grade ratings for both GE Vernova and GE Aerospace1. This is a critical step in our progress toward our launches, and GE’s strong financial position with an improved balance sheet, strong liquidity, and significant free cash flow generation supports forming these companies as well-capitalized, investment-grade industry leaders.  

In addition, yesterday GE publicly filed GE Vernova’s Form 10 with the U.S. Securities and Exchange Commission. You can read more here.

The document shares how GE Vernova is:

  • A purpose-built company driving electrification and decarbonization, well-positioned for multi-decade secular growth driven by the energy transition. GE Vernova serves 20% of a growing $1.4 trillion market, and it is innovating technology and advancing global sustainability with more than 80,000 employees in over 100 countries and $1 billion in R&D investments in 2024.
  • A global leader providing the electric power industry with a unique scope and scale of solutions, including products and services that generate, transfer, orchestrate, convert, and store electricity across a sizable 2,200 GW global installed base and by delivering new technologies.
  • Strengthening profitability to deliver shareholder value; driving safety, quality, delivery, and cost using its lean operating model.

Finally, yesterday GE successfully monetized approximately $1 billion of our shares in GE HealthCare, now bringing our holding to approximately 48.6M shares. To date, we have monetized approximately $3.2 billion of our shares in GE HealthCare or approximately 46% of our original stake. This helps us further strengthen and simplify our balance sheet, and we plan to continue to opportunistically sell down our stake in GE HealthCare in an orderly, disciplined manner.

This is an exciting time for both of our businesses. We look forward to sharing more with you at the GE Vernova and GE Aerospace Investor Days on March 6 and 7.

Thank you for your continued interest in GE,

Steve & team

For important information about forward-looking statements, please seehere.

1 Following the planned spin-off, in which GE will distribute the common stock of GE Vernova on a pro rata basis to holders of GE common stock, General Electric Company will be known as GE Aerospace.

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