Fitch rates Berkshire Hathaway notes A+

Fitch Ratings said it assigned A+ ratings to the $750 million of new five-year, 10-year and 30-year senior unsecured notes issued by Berkshire Hathaway Finance Corp.

The notes are guaranteed by Berkshire Hathaway Inc. and proceeds are expected to be used for general corporate purposes.

The ratings include the A+ ratings on Berkshire Hathaway Finance's $325 million 1.6% senior notes due May 2017, $200 million 3% senior notes due May 2022 and $225 million 4.4% senior notes due May 2042.

Berkshire Hathaway has an issuer default rating of AA-, along with A+ ratings on its $1.2 billion floating-rate senior notes due Feb. 2013, $1.4 billion 2.125% senior notes due Feb. 2013, $750 million floating-rate senior notes due Aug. 2014, $1.7 billion 3.2% senior notes Feb. 2015, $750 million 2.2% senior notes due Aug. 2016, $1.1 billion 1.9% senior notes due Jan. 2017, $500 million 3.75% senior notes due Aug. 2021 and $600 million 3.4% senior notes due Jan. 2022.

Berkshire Hathaway Finance also has an issuer default rating of AA-, along with A+ ratings on its $500 million 4.5% notes due Jan. 2013, $1 billion 4.6% notes due May 2013, $1 billion 5.0% notes due Aug. 2013, $950 million 4.625% notes due Oct. 2013, $375 million floating-rate senior notes due Jan. 2014, $375 million 1.50% senior notes due Jan. 2014, $400 million 5.1% notes due July 2014, $1 billion 4.85% notes due Jan. 2015, $500 million 2.45% senior notes due Dec. 2015, $750 million 1.6% senior notes due May 2017, $1.25 billion 5.4% notes due May 2018, $750 million 4.25% senior notes due Jan. 2021, $350 million 3.0% senior notes due May 2022, $750 million 5.75% senior notes due Jan. 2040 and $500 million 4.4% senior notes due May 2042.

Geico Corp. has an issuer default rating of AA- and an A+ rating on its $150 million 7.4% senior notes due July 15, 2023.

General Re Corp. has an issuer default rating of AA-, an F1+ rating on its $500 million commercial-paper program and F1+ rating on its short-term issuer default rating.

The ratings are supported by the 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, Fitch said.

The ratings also consider the material risk exposures related to an above-average investment allocation to common stocks, a substantial position in equity derivatives, insured natural catastrophe exposures and various issues associated with the company's acquisition strategy and succession planning, the agency said.

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