Berkshire sells 2.7 million more Moody's shares

AP News
Posted: Dec 09, 2009 7:55 PM

Warren Buffett's company has sold another 2.7 million shares of Moody's Corp. stock, reducing its stake in the credit rating agency to just under 15 percent.

Berkshire Hathaway Inc. said Wednesday that it held 35.4 million Moody's shares after the latest sales. Berkshire revealed the sales in documents filed with the Securities and Exchange Commission.

Buffett's Omaha-based company has greatly reduced its Moody's holdings from the 48 million shares it held for several years.

Last spring, Moody's cut Berkshire's pristine triple-A credit rating a few months before Buffett's company started reporting the sales of Moody's stock.

Berkshire reported selling the Moody's stock on Monday and Tuesday at prices between $24.80 and $25.35. It closed Wednesday at $24.95.


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