Berkshire Is Hit With Downgrades

穆迪投资者服务公司(Moody's Investors Service)取消了伯克希尔-哈撒韦公司(Berkshire Hathaway Inc.)及其几家保险子公司的AAA评级，这表明即便是巴菲特(Warren Buffett)也难避开市场动荡和经济危机的冲击。此次评级下调之前一个月左右，巴菲特旗下的伯克希尔哈撒韦公司发布了有史以来最差的财年业绩。伯克希尔2008年的每股帐面价值下降了9.6%。每股帐面价值是该公司用以衡量业绩的通用标准。而且，去年伯克希尔股价的跌幅几乎与大盘一致，这显示投资者担心该公司维持增长的能力。在盘后交易中，伯克希尔的B类股下跌5美元，至2,915美元。据CMA的数据，伯克希尔债券的信用违约掉期价格维持不变；而据投资管理公司AXA Investment Managers的数据，伯克希尔的债券没有交投，价格同样未变。 伯克希尔发言人没有回复记者要求置评的电话。穆迪宣布将伯克希尔的长期发行人评级下调两级至AA2，但维持了伯克希尔的短期Prime-1评级。此外，伯克希尔旗下子公司National Indemnity Co.和其他主要保险子公司的保险商财务实力评级也被下调一级至Aa1。伯克希尔持有穆迪少量股份，两公司为关联企业。穆迪称，上述评级的前景均为稳定，伯克希尔的评级在新水平上会得到充分支撑。穆迪指出，伯克希尔的许多业务受总体经济形势转变的影响较小。穆迪表示，对National Indemnity来说，股价不断下滑侵蚀了其资本基础。穆迪说，该子公司的监管资本2008年减少了22%，并在3月初前再次显著下滑。Jay Miller相关阅读巴菲特致股东信节选 2009-03-02巴菲特长线钓鱼  投资者能否坚持？ 2009-02-27伯克希尔第三财季净利润下滑77% 2008-11-10 本文涉及股票或公司document.write (truthmeter('2009年04月09日10:12', 'BRKA'));Berkshire Hathaway Inc. (Cl A)总部地点：美国上市地点：纽约证交所股票代码：BRKadocument.write (truthmeter('2009年04月09日10:12', 'BRKB'));Berkshire Hathaway Inc. (cl B)总部地点：美国上市地点：纽约证交所股票代码：BRKb


Moody's Investors Service stripped several triple-A ratings from Berkshire Hathaway Inc. and its insurance units, showing that even Warren Buffett is vulnerable to the market and economic turmoil. The downgrades come about a month after Buffett-led Berkshire posted its weakest-ever annual results. In 2008, the company lost 9.6% in book value a share, a common metric Berkshire uses to track performance. Plus, its shares fell nearly as much as the rest of the market last year, indicating that investors are worried about the company's ability to keep growing. In after-hours trading, Class B shares were down $5 to $2,915. The cost of credit default swaps on Berkshire debt was unchanged, according to CMA, while Berkshire bonds were inactive and also unchanged, according to AXA Investment Managers. A Berkshire spokeswoman didn't return a call seeking comment. Moody's, which itself is a minority-owned affiliate of Berkshire, knocked the investment company's long-term issuer rating down two notches to double-A-2, though the short-term Prime-1 rating was affirmed. In addition, the insurance financial strength ratings on the company's National Indemnity Co. unit and other major insurance units fell a notch to Aa1. The ratings outlooks are all stable, as the ratings firm said Berkshire's rating is 'well supported' at the new level. The firm noted that many of Berkshire's businesses are less tethered to general economic shifts. Moody's said that, for National Indemnity, falling stock prices have eroded the capital cushion. The ratings firm noted that the unit's regulatory capital fell 22% in 2008 and a 'significant additional amount' through early March.  Jay Miller