General Electric Gains on Debt Reduction, Cash Flow Forecast

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General Electric  (GE) – Get Report shares moved higher Tuesday after the industrial group said it would cut its debt by around $14.5 billion this year and repeated its aim of turning cash-flow positive in 2021.

General Electric said it has pre-funded $2.5 billion in minimum pension payments for the next three years and repaid a $1.5 billion loan to GE Capital, in transactions completed earlier this week. Collectively, the company expects to reduce debt for the 2020 year by around $14.5 billion — including $9.6 billion in GE Industrial debt and $4.9 billion in GE Capital debt — and by approximately $28 billion since the beginning of 2019.

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