Thursday, May 16, 2013

S&P Cuts Buffett’s Berkshire Rating

Reuters reports that credit-rating agency Standard & Poor's on Thursday cut its rating on Berkshire Hathaway Inc , the insurance and industrial conglomerate controlled by billionaire investor Warren Buffett, one notch, citing the company's reliance on its insurance operations for dividend income.

S&P cut the counterparty rating on Berkshire to "AA" from "AA+," but the agency left Berkshire's insurance units' financial strength ratings intact at "AA+."

"The lower credit rating on BRK better reflects our view of BRK's dependence on its core insurance operations for most of its dividend income," said Standard & Poor's analyst John Iten….

More?  Go to

No comments:

Post a Comment