AM Best Assigns Issue Credit Rating to Fairfax Financial Holdings Limited’s Senior Unsecured Notes

OLDWICK, N.J.--()--AM Best has assigned a Long-Term Issue Credit Rating (Long-Term IR) of “bbb” to Fairfax Financial Holdings Limited’s (Fairfax) (Toronto, Canada) recently announced $650 million 4.625% senior unsecured notes, due April 2030. The outlook assigned to the Credit Rating (rating) is stable. Fairfax intends to use the net proceeds of the offering to refinance or repay outstanding debt or other corporate obligations of the company and its subsidiaries and for general corporate purposes.

Following completion of the transactions discussed above, financial leverage and coverage measures are expected to remain supportive of the assigned rating. 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 AM 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 AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2020 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Guilherme Monteiro Simoes
Senior Financial Analyst
+1 908 439 2200, ext. 5301
guy.simoes@ambest.com

Carlos Wong-Fupuy
Senior Director
+1 908 439 2200, ext. 5344
carlos.wong-fupuy@ambest.com

Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com

Jim Peavy
Director, Public Relations
+1 908 439 2200, ext. 5644
james.peavy@ambest.com

Contacts

Guilherme Monteiro Simoes
Senior Financial Analyst
+1 908 439 2200, ext. 5301
guy.simoes@ambest.com

Carlos Wong-Fupuy
Senior Director
+1 908 439 2200, ext. 5344
carlos.wong-fupuy@ambest.com

Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com

Jim Peavy
Director, Public Relations
+1 908 439 2200, ext. 5644
james.peavy@ambest.com