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Business First reported that State clears Berkshire Hathaway municipal bond insurer. Regulators have cleared billionaire Warren Buffett's new municipal bond backer to operate in Ohio, the state Department of Insurance said Friday.
The department said it has granted a license to Berkshire Hathaway Assurance Corp, which was formed in Dec. 2007. The company will guarantee municipal bonds local and state governments use to finance a variety of public works projects
Berkshire Hathaway had expanded into a troubled field as the company backed 112 issues back in February. Standard & Poor's had assign the top "AAA" rating to Warren Buffett’s Berkshire Hathaway new bond insurance company Berkshire Hathaway Assurance Corporation.
For more information:
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