<img src=" http://www.joplinglobeonline.com/images/zope/tuesday.gif" border=0> Berkshire rating lowered by S&P

Water company cites reconnections

The May 22 tornado has caused a dramatic drop in water usage for the Missouri American Water Co., but things are starting to turn around — one reconnection at a time.

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February 9, 2010

Anonymous The Joplin Globe Tue Feb 09, 2010, 08:07 AM CST

Berkshire Hathaway, which owns several companies in Southwest Missouri, lost its AAA rating from Standard & Poor’s last week as the insurance-focused conglomerate prepares a big debt offering to help pay for its acquisition of railroad operator Burlington Northern Santa Fe.

S&P; cut its long-term counterparty credit rating on Berkshire to AA+ from AAA. The rating agency also lowered its financial strength ratings on Berkshire’s main insurance operations to AA+ from AAA.

Berkshire is considered one of the financially strongest companies in the world, and it held on to its AAA ratings for longer than insurance industry rivals such as American International Group.

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