Moody's downgrades Berkshire Hathaway
09-04-2009
Ratings agency Moody's Investors Service has downgraded the coveted "AAA" rating on US billionaire investor Warren Buffett's Berkshire Hathaway, citing the economic crisis on the firm's insurance activities.
Moody's lowered Berkshire Hathaway's rating to "Aa2" from "AAA."
It also lowered the rating on its insurance subsidiary National Indemnity Company and other major insurance subsidiaries to "Aa1" from "AAA."
