A.M. Best Assigns Issue Credit Rating to Fairfax Financial Holding Limited’s Senior Unsecured Notes

OLDWICK, N.J.--()--A.M. Best has assigned a Long-Term Issue Credit Rating (Long-Term IR) of “bbb” to Fairfax Financial Holding Limited’s (Fairfax) (Toronto, Canada), recently announced $600 million 4.85% senior unsecured notes due April 2028. The outlook assigned to the Credit Rating (rating) is stable.

Following the senior unsecured notes issue, financial leverage and coverage measures remain supportive of the assigned rating. Fairfax intends to use the net proceeds of the offering to refinance and repay outstanding debt and for other corporate purposes. 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 © 2018 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

A.M. Best
Darian Ryan, CPA
Senior Financial Analyst, +1 908 439 2200, ext. 5449
darian.ryan@ambest.com
or
Christopher Sharkey, +1 908 439 2200, ext. 5159
Manager, Public Relations
christopher.sharkey@ambest.com
or
Jennifer Marshall, CPCU, ARM, +1 908 439 2200, ext. 5327
Director
jennifer.marshall@ambest.com
or
Jim Peavy, +1 908 439 2200, ext. 5644
Director, Public Relations
james.peavy@ambest.com

Contacts

A.M. Best
Darian Ryan, CPA
Senior Financial Analyst, +1 908 439 2200, ext. 5449
darian.ryan@ambest.com
or
Christopher Sharkey, +1 908 439 2200, ext. 5159
Manager, Public Relations
christopher.sharkey@ambest.com
or
Jennifer Marshall, CPCU, ARM, +1 908 439 2200, ext. 5327
Director
jennifer.marshall@ambest.com
or
Jim Peavy, +1 908 439 2200, ext. 5644
Director, Public Relations
james.peavy@ambest.com