Buffett offloads shares in ratings agency Moody's

Warren Buffett has begun unloading shares in ratings agency Moody's as the group's share price hit $25, CNBC reports.

Buffett's firm Berkshire Hathaway has been selling down its holdings in Moody's since last summer, but has not revealed any further sales since March, when the share price topped $30. The stock slumped to below $19 in June this year but has since rebounded. According to a SEC filing, Buffett sold 1,350,550 shares for a total of $33.98m between 10 and 14 September, with an average selling price of $25.17. The move brings Berkshire's stake in Moody's down from 13% in March to 12.56%. It had a 20% stake before starting to sell down the stock in July 2009. Berkshire remains Moody's lar...