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GEFA |
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The company also would retain an interest in what Immelt called "a piece of very stable, low return runoff block from the GEFA portfolio. Since being appointed correspondent for GEFA in early 2001, MRG has evolved into one of the largest originators in the United States for the Richmond, Va. The ratings on both GE Financial and GEFA had received a notch of implicit support derived from its GE ownership and the downgrade reflects the current and prospective lack of this support. |
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