Credit Crunch? Even Warren Buffett's Company Has Lost Its Top Credit Rating
US financier Warren Buffett's holding company, Berkshire Hathaway, has lost its top credit rating.
Ratings agency Moody's cut the debt rating from Aaa, the highest, to Aa2, meaning that it thinks the company is less likely to pay back its debt.
Investors are needlessly exposing themselves to huge potential losses by defying two golden rules for making money through bonds - lend more to those who will pay on time in full and less to those already saturated in debt.
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