Moody's rates Berkshire Hathaway notes Aa2

Moody's Investors Service said it assigned an Aa2 rating to $1 billion of senior unsecured notes being issued by Berkshire Hathaway Finance Corp. guaranteed by Berkshire Hathaway Inc. (long-term issuer rating of Aa2).

The outlook is stable.

Proceeds are expected to be used to repay Berkshire Finance's $1.5 billion of senior notes maturing on Jan. 15.

Berkshire's ratings reflect the company's strong market presence in its principal (re)insurance operations, the diversification of its earnings in both regulated and non-regulated businesses, and its exceptionally strong balance sheet, according to the agency.

These strengths are tempered by potential earnings and capital volatility in the major (re)insurance operations related to large and concentrated stock investments as well as large individual underwriting transactions, the agency said.

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