S&P Gives Berkshire Hathaway 'Negative' Outlook

New York, NY, March 26, 2009--Berkshire Hathaway, parent of Shaw Industries, could lose its "AAA" credit rating from Standard & Poor's, after the ratings agency revised its outlook to "negative" from "stable."

Citing worsening market conditions that have hurt Berkshire's financial condition and investment portfolio, S&P said late Tuesday that it assigned the "negative" outlook to the Omaha, Neb.-based parent company. The "negative" outlook also applies to Berkshire Hathaway Finance Corp., and Berkshire's core insurance companies, including Berkshire Hathaway Assurance Corp.

S&P said its negative outlook applies to the next 12 months.

A lower rating could be triggered if stock markets continue to deteriorate and further erode Berkshire's capital position, S&P said.

Related Topics:Shaw Industries Group, Inc.