The central bank’s direction to credit rating agencies (CRAs) in April was followed by clarifications in July that CRAs are not permitted to rely on support structures like letters of credit (LoC), letter of support, obligor-co-obligor structure, etc, for deriving rating comfort while assigning CE ratings.
Berkshire Hathaway shares slide after earnings, CEO letter
Berkshire Hathaway shares experienced their largest drop since Warren Buffett’s CEO succession announcement, as financial results missed analyst expectations. The conglomerate’s fourth-quarter operating profit fell