November 12, 2018 / 3:07 PM / a month ago

General Electric CEO Culp says company has too much debt

Nov 12 (Reuters) - General Electric Co Chief Executive Officer Larry Culp said on Monday the company was saddled under too much debt and would urgently sell assets to pay off debt, sending its shares down 8 percent.

“We have no higher priority right now than bringing leverage levels down,” Culp said in an interview with CNBC. “We have plenty of opportunity to do that through asset sale.” (Reporting by Rachit Vats in Bengaluru Editing by Saumyadeb Chakrabarty)

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