Moody's Investors Service, citing the impact of stock market declines, downgraded the insurance financial strength rating of National Indemnity Company and the long-term issuer rating of its ultimate parent, Berkshire Hathaway Inc.
National Indemnity was dropped to “Aa1″ from “Aaa”–Moody's top rating, which is essentially Moody's version of a “triple-A.”
Berkshire was cut to “Aa2″ from “Aaa.”
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