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Citing damage caused by falling insurance stocks, ratings agency Moody's Investors Service downgraded the company by two places to Aa2.
Bruce Ballentine, Moody's lead analyst for Berkshire, said the rating change was the result of the severe decline in equity over the last year, in addition to the protracted economic downturn.
"These extraordinary market pressures have reduced the excess cushion available from National Indemnity and the other affected operations to support potential funding needs of the parent company," he told the Associated Press.
In March, Berkshire was downgraded by Fitch Ratings from AAA to AA.
Recently, the chief executive of Berkshire's Helzberg Diamond unit resigned.
The Kansas City-based firm has almost 270 jewellery retail stores throughout the US.
