Buffet credit rating downgraded - papers

Citing damage from tumbling shares in the insurance business, Moody's lowered its credit rating on Berkshire by two notches to Aa2, from AAA. Berkshire has already lost its top credit rating at rival agency Fitch, which pointed to its reliance on its 78-year-old founder, known as the Sage of Omaha. The legendary investor has had to tell shareholders in his company that 2008 had been the worst year since he took the helm 44 years ago. Investments in Wells Fargo bank and American Express are among those that have gone wrong. The third major credit-rating agency, Standard & Poor's, has k...