Bloomberg reported that due to concerns that GE may add debt in order to fund future acquisitions, S&P Global Ratings cut the company’s credit rating.

Bloomberg said the long-term corporate rating for GE and GE Capital Global Holdings was reduced to AA- from AA+, with a stable outlook.

Bloomberg noted that GE CEO Jeffrey Immelt has said the company may be willing to sacrifice its usually strong credit rating while adding additional debt to support expansion plans.