We wondered when this would happen. After Fitch and S&P both cut their ratings on Berkshire Hathaway (BRK), Moody’s (MCO) was the odd one dragging behind.
Of course, Berkshire is the largest investor in Moody’s, so you figure that’s always a little awkward. But they finally came through, cutting the firm’s rating from AAA to AA2, citing the economy and the decline in equity markets.
In the past, regulators have raised concerns about the Berkshire/Moody’s connection, but nothing ever came of it and there’s no evidence that the actual raters are influenced by the invesmtent.