Berkshire Unsecured Rating Cut By Fitch To AA, Outlook Negative

Following in the footsteps of GE's downgrade earlier, the AAA rated financials are now extinct.

The Fitch downgrade is presented in its entirety, however one important thing to note is Fitch's disclosure that it had evaluated non-public information regarding BRK's derivatives exposure. Being the first to downgrade the company upon seeing this disclosure likely portends nothing too good from the other rating agencies which are behind the curve.

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