S&P downgrades Berkshire Hathaway rating
May 17, 2013 by The Associated Press
NEW YORK (AP) — Standard & Poor’s Ratings Services cut a major rating for Warren Buffett’s Berkshire Hathaway, in part because of the company’s focus on the insurance industry.
The ratings agency dropped its counterparty credit rating for the Omaha-based company by one notch to AA, from AA plus.
Like the old rating, the new rating is an investment-grade rating. Click here to read…