Blow to Buffett as Berkshire loses another AAA rating
Berkshire Hathaway has had its AAA counterparty credit rating downgraded a notch by Standard & Poor's (S&P) due to the "very high" risk associated with its $26bn debt-funded acquisition of railway operator Burlington Northern Santa Fe (BNSF).
S&P lowered the counterparty and credit rating of the Warren Buffett-owned reinsurer to AA+ last week.
The agency said Berkshire's recently completed acquisition of BNSF will push its financial leverage from 5.3 percent at Q3 to around 10 percent, noting that "investment risk...
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