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General Electric (GE Quote) drew big headlines when it lost its triple-A debt rating earlier this year, but its rating still looks too high next to comparable companies with lower debt.
GE's debt to tangible book value of almost 90 represents more than three times as much leverage as any of 26 comparable financial and industrial companies, according to TheStreet.com's analysis of Bloomberg data. By this measure, GE has six times the leverage of Goldman Sachs (GS Quote), more than eight times that of Wells Fargo (WFC Quote) and almost 11 times the debt load of JPMorgan Chase (JPM Quote).
Nonetheless, GE carries higher ratings from both Moody's Investors Service and Standard & Poor's. ...
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