By Aparajita Saha-Bubna, Of DOW JONES NEWSWIRES
Billionaire investor Warren Buffett's Berkshire Hathaway Inc. (BRKA, BRKB) disclosed in a filing Thursday it sold 205,628 shares of Moody's Corp. (MCO) in two batches this week, reducing its stake in the ratings company to 30,786,876 shares.
Berkshire has been selling Moody's shares since the summer. As of Dec. 31, 2009, Berkshire's remaining stake in Moody's amounted to 13% of Moody's fully diluted shares.
The Omaha, Neb., conglomerate sold one batch of 148,054 shares on March 23 at $30.23 and another 57,574 shares on March 24 at $30.37, according to the filing, raising more than $6 million in the sale for Berkshire.
Earlier this week, Berkshire Hathaway disclosed in a separate filing on March 22 that it sold nearly 816,000 shares of Moody's, raising more than $24 million in the sale.
Moody's business has suffered during the financial crisis, and the New York- based company has been criticized for the top grades it and some other ratings firms had issued to mortgage-backed securities that later underperformed.-By Aparajita Saha-Bubna, Dow Jones Newswires
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