Moody's Downgrades Buffett

By John Johnson,  Newser Staff
Posted Apr 8, 2009 9:31 PM CDT
Warren Buffett, in a file photo from May.   (AP Photo/Paul White, File)
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(Newser) – Warren Buffett's oracle aura took another hit today. Moody's downgraded his Berkshire Hathaway from its top Aaa rating to Aa2, citing "a severe decline in equity markets," the Wall Street Journal reports. The move follows a similar move by Fitch Ratings last month for Berkshire, whose shares are down 33% over the last year. This one might sting more, though: Buffett is Moody's largest shareholder with a 20% stake.