S&P cuts Berkshire Hahaway's rating, but barely.

S&P cuts Berkshire Hathaway rating by one notch to 'AA' - Yahoo! Finance:


"The lower credit rating on BRK better reflects our view of BRK's dependence on its core insurance operations for most of its dividend income," said Standard &Poor's credit analyst John Iten."
How to bond rating agencies work? Here are a few good links:

From Wikipedia:  (they have really cool tables showing defaults by

U.S. Accuses S.&P. of Fraud in Suit on Loan Bundles - NYTimes.com

This took longer than expected.

U.S. Accuses S.&P. of Fraud in Suit on Loan Bundles - NYTimes.com:


"The Justice Department filed civil fraud charges late on Monday against the nation’s largest credit-ratings agency, Standard & Poor’s, accusing the firm of inflating the ratings of mortgage investments

From September 2004 through October 2007, S.&P. “knowingly and with the intent to defraud,