NEW YORK, Feb 4 (Reuters) - Standard & Poor's on Thursday stripped Warren Buffett's Berkshire Hathaway Inc. of its top AAA rating, saying its acquisition of Burlington Northern Santa Fe will hurt liquidity and capital adequacy.
S&P cut Berkshire's long-term counterparty credit rating rating by one notch to AA-plus.
'We believe that the railroad acquisition will reduce what historically has been extremely strong capital adequacy and liquidity, and that investment risk with sizable concentrations remains very high,' S&P said in a statement.
(Reporting by Dena Aubin; Editing by Theodore d'Afflisio) Keywords: RATING BERKSHIRE/SANDP (dena.aubin@thomsonreuters.com; +1-646-223-6325; Reuters Messaging: dena.aubin.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
S&P cut Berkshire's long-term counterparty credit rating rating by one notch to AA-plus.
'We believe that the railroad acquisition will reduce what historically has been extremely strong capital adequacy and liquidity, and that investment risk with sizable concentrations remains very high,' S&P said in a statement.
(Reporting by Dena Aubin; Editing by Theodore d'Afflisio) Keywords: RATING BERKSHIRE/SANDP (dena.aubin@thomsonreuters.com; +1-646-223-6325; Reuters Messaging: dena.aubin.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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