Fitch rates Berkshire Hathaway notes A+

Fitch Ratings said it assigned A+ ratings to the $950 million of senior unsecured notes issued by Berkshire Hathaway Finance Corp.

The notes are guaranteed by Berkshire Hathaway Inc.

The A+ ratings are equivalent to the ratings on Berkshire Hathaway Finance's outstanding senior unsecured notes that are guaranteed by Berkshire Hathaway.

The issuance of senior unsecured notes consisted of $400 million 0.95% notes due in 2016 and $550 million 2.9% notes due in 2020.

The proceeds from the senior notes are to be used to redeem notes maturing this month, Fitch said.

The ratings are supported by extremely strong capitalization and market position of its insurance subsidiaries, solid operating performance with good diversification across business lines and excellent financial flexibility and liquidity, the agency said.

The ratings also consider the company's material equity market risk, insured natural catastrophe exposures, growing exposure to asbestos and environmental risk and various issues associated with the company's acquisition strategy, Fitch said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.