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Economy

xchrom

(108,903 posts)

11. S&P DOWNGRADES WARREN BUFFETT

Reply to Tansy_Gold (Original post)

Thu May 16, 2013, 08:37 AM

May 2013

http://www.businessinsider.com/sp-downgrades-berkshire-hathaway-2013-5

***SNIP

Here's the press release from S&P:

On New Criteria, Berkshire Hathaway Inc. Downgraded To 'AA', Core Ins. Subs Affirmed At 'AA+', Senior Debt Rated 'AA'

Under our revised group methodology criteria, we are lowering our counterparty credit rating on BRK to 'AA' from 'AA+'. At the same time, we are affirming our 'AA+' counterparty credit and financial strength ratings on BRK's core operating insurance companies.

The ratings reflect our view of the group's excellent business risk profile and very strong financial risk profile based on an extremely strong competitive position and very strong capital and earnings.

The negative outlook reflects the U.S. sovereign ratings cap and our view that the group's capital adequacy per our capital adequacy model could deteriorate relative to its risk profile.

Read more: http://www.businessinsider.com/sp-downgrades-berkshire-hathaway-2013-5#ixzz2TSUr7lXH

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