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<TABLE cellSpacing=0 cellPadding=0 width=452 border=0><TBODY><TR vAlign=top><TD></TD></TR><TR><TD vAlign=top width=452 colSpan=2>Published March 14, 2009
</TD></TR><TR><TD vAlign=top width=452 colSpan=2>Berkshire, GE among giants losing AAA rating
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THE credit crisis is thinning the ranks of AAA companies, after General Electric and Warren Buffett's Berkshire Hathaway lost top-level debt ratings on concern about losses on financial instruments.
Fitch Ratings on Thursday stripped Berkshire of its AAA grade, citing risks stemming from derivatives holdings and Mr Buffett's role as chief investment officer. Hours earlier, GE lost the top rating at Standard & Poor's that it has held since 1956. S&P and Moody's still rate Berkshire triple-A.
Five non-financial US companies, including Microsoft Corp, now hold S&P's AAA grade, down from more than 60 in 1982, according to the ratings firm.
US companies aren't alone in losing triple-A status, as the weakest world economy in six decades strip them of sales. Toyota Motor Corp had its credit rating cut to Aa1 from Aaa on Feb 6. Toyota is forecasting its first loss in 59 years as auto sales slump. -- Bloomberg
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</TD></TR><TR><TD vAlign=top width=452 colSpan=2>Berkshire, GE among giants losing AAA rating
<TABLE class=storyLinks cellSpacing=4 cellPadding=1 width=136 align=right border=0><TBODY><TR class=font10><TD align=right width=20>
</TD><TD>Email this article</TD></TR><TR class=font10><TD align=right width=20></TD><TD>Print article </TD></TR><TR class=font10><TD align=right width=20></TD><TD>Feedback</TD></TR></TBODY></TABLE>(New York)THE credit crisis is thinning the ranks of AAA companies, after General Electric and Warren Buffett's Berkshire Hathaway lost top-level debt ratings on concern about losses on financial instruments.
Fitch Ratings on Thursday stripped Berkshire of its AAA grade, citing risks stemming from derivatives holdings and Mr Buffett's role as chief investment officer. Hours earlier, GE lost the top rating at Standard & Poor's that it has held since 1956. S&P and Moody's still rate Berkshire triple-A.
Five non-financial US companies, including Microsoft Corp, now hold S&P's AAA grade, down from more than 60 in 1982, according to the ratings firm.
US companies aren't alone in losing triple-A status, as the weakest world economy in six decades strip them of sales. Toyota Motor Corp had its credit rating cut to Aa1 from Aaa on Feb 6. Toyota is forecasting its first loss in 59 years as auto sales slump. -- Bloomberg
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