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Wednesday, November 04, 2009
S&P May Downgrade Berkshire Hathaway AAA Rating
By Wallace Witkowski
MarketWatch Pulse
SAN FRANCISCO -- Standard & Poor's said Wednesday that it may downgrade Berkshire Hathaway Inc.'s AAA rating on the company's plans to buy Burlington Northern Santa Fe Corp. in a $44 billion cash-and-stock deal. "We believe that this transaction will decrease the liquidity and capital adequacy of the insurance operations," said John Iten, an S&P credit analyst, in a statement. "For the consolidated organization, financial leverage will increase and fixed-charge coverage may decline." Separately, S&P said that it may upgrade its BBB corporate credit rating on Burlington.
Copyright © 2009 MarketWatch, Inc.
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