OLDWICK, N.J.--(BUSINESS WIRE)--A.M. Best has affirmed the issuer credit rating of “bbb” of Fairfax (US) Inc. (incorporated in Delaware), a subsidiary of Fairfax Financial Holdings Limited (Fairfax) (TSX: FFH and FFH.U) (Toronto, Canada.) The outlook for the rating is stable.
Fairfax (US) Inc.’s rating reflects its position as an intermediate holding company in the Fairfax organization and the implicit and explicit benefits of being part of the Fairfax enterprise. Fairfax (US) Inc. is a holding company through which Fairfax owns the majority of its U.S.-based operating subsidiaries. In 2014, Fairfax (US) Inc. issued senior notes, which are fully guaranteed by Fairfax. Fairfax (US) Inc.’s and Fairfax’s financial leverage and coverage measures remain within A.M. Best’s guidelines for the assigned rating. A.M. Best’s ratings on Fairfax and its other subsidiaries remain unchanged.
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