Moody's Downgrades Buffett

By John Johnson,  Newser Staff
Posted Apr 8, 2009 9:31 PM CDT
Moody's Downgrades Buffett
Warren Buffett, in a file photo from May.   (AP Photo/Paul White, File)

Warren Buffett's oracle aura took another hit today. Moody's downgraded his Berkshire Hathaway from its top Aaa rating to Aa2, citing "a severe decline in equity markets," the Wall Street Journal reports. The move follows a similar move by Fitch Ratings last month for Berkshire, whose shares are down 33% over the last year. This one might sting more, though: Buffett is Moody's largest shareholder with a 20% stake.
(Read more Warren Buffett stories.)

We use cookies. By Clicking "OK" or any content on this site, you agree to allow cookies to be placed. Read more in our privacy policy.
Get the news faster.
Tap to install our app.
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.