(Reuters) - General Electric Co revises 2008 guidance and reaffirms commitment to triple-a credit rating.
*expects to earn approximately $20 billion in 2008; maintaining annual
dividend of $1.24 per share through 2009
* Sees Q3 earnings per share $0.43 to $0.48
* Says board approves plan to maintain $0.31 per share quarterly dividend
* Says will further reduce financial services leverage and strengthen capital
and liquidity
* Sees FY 2008 earnings per share $1.95 to $2.10
* Sees financial services earnings in third quarter to be about $2 billion
* Reuters Estimates Q3 earnings per share view $0.52
* Reuters Estimates FY 2008 earnings per share view $2.21
* Says have suspended the stock buyback to reduce ge capital leverage
* Says previous Q3 earnings per share view was $0.50 to $0.54
* Cites unprecedented weakness and volatility in the financial services markets
for revised earnings guidance
* Says reducing GE Capital'S commercial paper to 10-15% of GE Capital'S total
debt going forward
* Says previous FY earnings per share view was $2.20 to $2.30
* Says anticipates difficult conditions in financial services markets are not
likely to improve in near future
* Says reducing GE Capital dividend to GE from 40 percent to 10 percent of GE
Capital'S earnings
* Says GE Capital does not need to raise any additional long-term debt for
remainder of 2008
