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Berkshire Hathaway Inc.'s $8 Billion Senior Note Issuance Rated 'AA+' Feb 10
Standard & Poors, Feb 2010
Abstract
NEW YORK (Standard & Poor's) Feb. 5, 2010--Standard & Poor's Ratings Services today said it assigned its 'AA+' senior debt rating to $8.0 billion of senior notes issued by Berkshire Hathaway Inc. (BRK; AA+/Stable/A-1+). BRK is issuing the notes in six tranches--three floating rate and three fixed rate--with maturity dates from 2011 to 2015. BRK will use proceeds from the issue to help fund its planned purchase of the shares it does not already own in Burlington Northern Santa Fe Corp. (BNSF) for approximately $26 billion in cash and stock. The BNSF transaction is pending shareholder approval, and we expect it to close no later than Feb. 15. BRK already owns more than 22% of the stock of BNSF. BRK...
Companies mentioned in this report are: Berkshire Hathaway Inc.,Clayton Homes Inc.,MidAmerican Energy Holdings Co.,Burlington Northern Santa Fe LLC
Action: New Rating
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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