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Moody's: Berkshire Hathaway notes Aa2
Moody's Investors Service said it assigned Aa2 ratings to $600 million of three-year and $400 million of five-year notes being issued by Berkshire Hathaway Finance Corp.
All notes are unconditionally and irrevocably guaranteed by Berkshire Hathaway Inc.
The notes are being issued off Berkshire's U.S. shelf registration and are also available to qualified Canadian investors on a private placement basis. Net proceeds will be used to redeem $1 billion of Berkshire Hathaway Finance notes maturing in mid-August.
The outlook is stable.
"Berkshire continued its strong performance through the first half of 2013," Moody's lead analyst for Berkshire Bruce Ballentine, "with improvement in each major business segment versus the prior-year period."
After-tax operating income (which excludes investment and derivative gains/losses) increased to $7.7 billion in the first half of 2013 from $6.4 billion in the prior-year period.
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