Moody’s Downgrades Buffett’s Berkshire Hathaway

Credit rating agency Moody’s (MCO) has stripped Warren Buffett’s Berkshire Hathaway (BRK-A) and its subsidiaries of its it AAA rating. The new rating is ‘Aa2.’ The downgrade is somewhat ironic considering Berkshire is actually the largest shareholder of Moody’s Corp. Buffett and Berkshire own 20% of Moody’s stock.

The reasons for the downgrade, the usual jazz: falling equity values, capital cushion reductions etc. AAA-rated companies are indeed becoming an endangered species.

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