The Reuters article says S&​P will soon start assigning AAA ratings to Berkshire Hathaway Assurance Corp.. The piece says, "One of the new businesses Berkshire Hathaway is winning is from tender option bond trusts, some of which are eager to replace troubled insurers, Jeffrey Previdi, a Standard & Poor'​s analyst, told Reuters. TOBs earn returns by "selling lower-​yielding floating-​rate paper to money market funds and investing the proceeds in higher-​yielding long-​term munis, which are often insured." It adds, "Money market funds fear that these tender option bonds will not be eligible for their portfolios if bond insurers are downgraded, so trusts are looking for solutions, including solid insurers."

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