Perki

General Electric: Genuine Risk of Collapse?

Your data does not support your conclusions. Granted they blew the earnings target. Granted, refinancing may be more expensive.

The balance sheet shows good liquidity. Looks like a smart company preparing for hard times ahead. As for Gov Guarantees, you have to get them if you can, because you will be competing for capital against companies that have it. Gov guaranteed AAA debt will cost you much less that AAA debt alone. As you correctly pointed out, the ratings are useless now!