OMAHA, Neb. (AP) — Warren Buffett’s Berkshire Hathaway Inc. was downgraded by Standard & Poor’s Ratings Services Thursday after the credit rating agency changed the way it evaluates insurance companies.
The ratings agency dropped its investment-grade counterparty credit rating for the Omaha-based holding company and all the debt it guarantees by one notch to “AA” from “AA+.” But all of Berkshire’s insurance subsidiaries keep their “AA+” ratings.
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