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Buffett Stripped of His Last AAA Rating as S&P Cuts Berkshire

Buffett Stripped of His Last AAA Rating as S&P Cuts Berkshire
Brief Date: 
04th Feb 2010
Brief Author: 
Andrew Frye

Feb. 4 (Bloomberg) -- Warren Buffett’s Berkshire Hathaway Inc. was stripped of its last AAA credit rating by Standard & Poor’s after the billionaire investor agreed to buy railroad Burlington Northern Santa Fe Corp.

Berkshire, which is taking on debt to fund the $26 billion takeover, was cut to AA+ from S&P’s highest grade, the ratings firm said today in a statement. The downgrade concludes a review that S&P announced on Nov. 4, the day after Berkshire disclosed the deal for Burlington Northern.

Source: Business Week Link Below

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Business Week: Buffett Stripped of His Last AAA Rating as S&P Cuts Berkshire
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