NEW YORK (Reuters) - General Electric Co's finance unit has no short-term liquidity issues, and speculation about its ability to maintain sufficient capital is "overdone," the company's chief financial officer said.
Speaking Thursday on CNBC television, CFO Keith Sherin said there is "no silver bullet" to isolate credit losses at GE Capital, which like many finance companies is being hurt as the troubled economy makes it harder for consumers and businesses to pay their bills.
He nevertheless said GE Capital does not need new capital and will be profitable this quarter.
Sherin also said it would take an "incredibly disastrous economic situation" for GE to seek money from the government's Troubled Asset Relief Program.
GE lowered its common stock dividend last week, and Moody's Investors Service is reviewing its "triple-A" credit rating for a possible downgrade.
Sherin said he could not imagine a downgrade to the "single-A" category by major rating agencies, though he said a downgrade to the "double-A" category is possible.
GE has a variety of other businesses that make such things as jet engines and light bulbs. It is also the parent of CNBC.
GE shares fell 4 cents to $6.65 in premarket trading, paring some earlier losses after Sherin spoke. The shares hit their lowest level since 1991 on Wednesday. The stock's 52-week high is $38.52, set last April 2, Reuters data show.
(Reporting by Jonathan Stempel; editing by John Wallace)
