10:54 AM EST, 12/20/2021 (MT Newswires) -- Moody's said Friday that it has affirmed the Baa3 senior unsecured debt rating of Fairfax Financial Holdings Ltd. (FFH.TO) and that of its wholly-owned financing subsidiary, Fairfax (US) Inc.
Also, the rating agency has assigned provisional ratings to Fairfax's shelf registration. The rating outlook for these entities is stable.
The company's stock fell 1.6% on last look on Monday.
The ratings reflect the group's diversified insurance and reinsurance revenue streams by product and geography, a well-established market position in reinsurance, good underwriting profitability, and a high level of cash and marketable securities at the holding company, the agency said.
The stable outlook reflects the group's diversified businesses and solid underwriting profitability along with good capital adequacy and liquidity.
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