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S&P cuts Berkshire Hathaway’s AAA ratings
04 February 2010
Rating agency Standard & Poor's (S&P) today lowered its long-term counterparty credit rating on Berkshire Hathaway to AA+ from AAA.
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berkshire hathaway
warren buffett
S&P
standard & poor's
burlington northern santa fe
Rating agency Standard & Poor's (S&P) today lowered its long-term counterparty credit rating on Berkshire Hathaway to AA+ from AAA, citing reduced capital adequacy following the acquisition of Burlington Northern Santa Fe and concerns over the succession plan for its CEO Warren Buffett.
S&P also lowered the financial strength ratings on Berkshire’s core insurance operations to AA+ from AAA..
The ratings have been removed from credit watch. The outlook is stable.
"We are taking these rating actions...
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