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Article: Fitch Places Berkshire Hathaway on Rating Watch Negative.
- Article from:
- Investment Weekly News
- Article date:
- November 21, 2009
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Fitch Ratings has placed the ratings of Berkshire Hathaway Inc. (NYSE:BRK) and the ratings of BRK's insurance subsidiaries on Rating Watch Negative (see full list of ratings below).
The rating actions follow BRK's Nov. 3, 2009 announcement that it has entered into a definitive agreement with Burlington Northern Santa Fe Corporation (NYSE:BNSF) under which BRK will acquire the 77% of BNSF shares it does not already own in exchange for cash or BRK shares. BRK expects the acquisition, which requires approval by holders of two-thirds of BNSF's outstanding shares and the Department of Justice, to close in the first quarter of 2010.
Fitch's decision to place ...
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