INSTANT VIEW: Moody's strips Berkshire of top credit rating

NEW YORK (Reuters) - Moody's Investors Service on Wednesday cut its rating on the debt of Berkshire Hathaway (BRKa.N), the holding company of legendary investor Warren Buffett, from its top Aaa to Aa2, the third-highest investment grade.

Moody's, which also cut its rating on National Indemnity Corp and other major Berkshire Hathaway insurance units, cited the impact on the holding company's key businesses of the severe decline in the equity markets over the past year.

The following is reaction from industry analysts and investors:

WHITNEY TILSON, MANAGING PARTNER, T2 PARTNERS LLC, NEW YORK

"Why anyone pays any attention to ratings agencies anymore is beyond me-- they have been so spectacularly wrong on any financial related company in the past year or two."

"It's our largest position-- we're not bothered by it because people need to buy insurance and everyone knows that Berkshire Hathaway in a turbulent market is more likely to pay than any other insurer, by far"

"Berkshire Hathaway remains the Fort Knox of insurance regardless of Moody's rating."

MATT MCCORMICK, BANKING ANALYST AND PORTFOLIO MANAGER AT BAHL & GAYNOR INVESTMENT COUNSEL, CINCINNATI

"Even Warren Buffett cannot escape the wrath of the financial meltdown.