Wednesday, May 25, 2005

Warren Buffett: "No Limit" To Berkshire Hathaway Energy Buys

The Oracle of Omaha, Warren Buffet, has purchased energy producer PacifiCorp, and says he plans on acquiring lots more such companies in the future. He further said there is "no limit" to the amount of money he plans on spending in that sector. Berkshire owns MidAmerican, which plans on buying PacifiCorp.

In related news, Standard & Poor's may reclassify MidAmerican's credit rating, raising it from BBB-, one rank above junk status, while PacifiCorp's (at A-, the seventh-highest grade) might be degraded slightly.