Buffett’s Berkshire avoids S&P rating downgrade

By Jonathan Stempel(Reuters) – Standard & Poor’s on Friday left intact its “AA” credit ratings for Warren Buffett’s Berkshire Hathaway Inc , saying the company’s diversification and “modest” financial risk justify the high grade. Berkshire had been put on review on Aug. 11 for a possible downgrade on concern about Buffett’s decision to deploy a large amount of cash toward the $32 billion acquisition of industrial parts maker Precision Cas