A.M. Best Assigns Issue Credit Rating to Fairfax Financial Holdings Limited
A.M. Best has assigned a Long-Term Issue Credit Rating (Long-Term IR) of “bbb” to Fairfax Financial Holdings
Limited’s (Fairfax) (Toronto, Canada) [TSX: FFH and FFH.U] recently announced CAD 650 million 4.25% aggregate principal amount
of senior unsecured notes due 2027. The outlook assigned to the Credit Rating (rating) is stable.
Following the senior notes issue, financial leverage and coverage measures, including consideration of liquid assets held at the
holding company, are supportive of the assigned rating. Fairfax intends to use the net proceeds of the offering to refinance or
repay outstanding debt. This includes the redemption of Fairfax’s notes due Aug. 19, 2019.
Fairfax’s Long-Term Issuer Credit Rating of “bbb,” its existing Long-Term IRs and the ratings of its operating insurance
subsidiaries are unchanged.
This press release relates to Credit Ratings that have been published on A.M. Best’s website. For all rating information
relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual
ratings referenced in this release, please see A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit
Rating opinions, please view Understanding Best’s Credit Ratings . For information on the proper media use of Best’s Credit Ratings and
A.M. Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and A.M. Best Rating Action Press Releases .
A.M. Best is the world’s oldest and most authoritative insurance rating and information source. For more information,
visit www.ambest.com.
Copyright © 2017 by A.M. Best Rating Services, Inc. and/or its subsidiaries. ALL RIGHTS RESERVED.
A.M. Best
Darian Ryan, CPA, +1 908-439-2200, ext. 5449
Senior Financial Analyst
darian.ryan@ambest.com
or
Jennifer Marshall, CPCU, ARM, +1 908-439-2200, ext. 5327
Director
jennifer.marshall@ambest.com
or
Christopher Sharkey, +1 908-439-2200, ext. 5159
Manager, Public Relations
christopher.sharkey@ambest.com
or
Jim Peavy, +1 908-439-2200, ext. 5644
Director, Public Relations
james.peavy@ambest.com
View source version on businesswire.com: http://www.businesswire.com/news/home/20171201005714/en/