Vanderbilt Mortgage Offering

Reuters reports Standard and Poor’s Rating Services has assigned its senior debt rating of AA+ to Berkshire Hathaway Finance Corporation (BHFC) $1.6 billion note offering. The rating is actually based on parent company Berkshire Hathaway’s “extremely strong competitive position, very strong earnings, very strong liquidity position, and conservative financial leverage.” The money raised will be used to fund Vanderbilt Mortgage & Finance, Inc., which is a wholly-owned subsidiary of Clayton Homes, Inc. Clayton Homes is owned by Berkshire Hathaway.

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