NEW YORK (Standard & Poor's CreditWire) July 14, 2000ùStandard & Poor's today affirmed its triple-'A' counterparty credit and financial strength ratings on Berkshire Hathaway Insurance Group, the members of which are the insurance operating subsidiaries of Berkshire Hathaway Inc. (Berkshire Hathaway). At the same time, Standard & Poor's affirmed its 'A-1'-plus commercial paper and triple-'A' senior debt ratings on Berkshire Hathaway. The outlook is stable. These ratings are based on Berkshire Hathaway's strong management, superior capitalization, and exceptional financial flexibility. Offsetting these positive factors are a deterioration in operating performance and potentially large earnings volatility, which results from catastrophe exposure. Major Rating Factors: -- Strong management. Despite the challenging financial results at General Reinsurance Corp. and the lackluster investment portfolio
