Berkshire Hathaway downgrade

In the "what in the heck is this world coming to?" category, Berkshire Hathaway's credit rating was officially downgraded from the highly coveted "AAA" to "AA+" by S & P. Warren Buffett, Chairman of Berkshire Hathaway and considered the greatest equities investor of all-time by consensus, has made huge bets on an economic recovery, recently acquiring Burlington Northern railroad for $26 billion.

The acquisition required cash, stock, and $8 billion in notes, now rated AA+. This reduced Berkshire's cash position, increased their debt levels, and introduced risk into the Berkshire holding company's business model.

http://www.usatoday.com/money/markets/2010-02-05-aaabuffett05_ST_N.htm