AM Best Assigns Issue Credit Rating to Fairfax Financial Holdings Limited’s Senior Unsecured Notes
November 22 2024 - 2:07PM
Business Wire
AM Best has assigned a Long-Term Issue Credit Rating of
“bbb+” (Good) to the recently issued CAD 450 million, 4.73% senior
unsecured notes, due November 2034, and CAD 250 million, 5.23%
senior unsecured notes, due November 2054, of Fairfax Financial
Holdings Limited (Fairfax) (Toronto, Canada) [TSX: FFH]. The
outlook assigned to these Credit Ratings (rating) is positive.
The Long-Term Issuer Credit Rating of Fairfax, as well as the
ratings of its operating subsidiaries and all other debt issuances,
are unchanged. Fairfax intends to use substantially all of the net
proceeds of the offering to repay outstanding preference
shares.
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 use of Best’s Credit Ratings, Best’s Performance
Assessments, Best’s Preliminary Credit Assessments and AM Best
press releases, please view Guide to Proper Use of Best’s
Ratings & Assessments.
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 London,
Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more
information, visit www.ambest.com.
Copyright © 2024 by A.M. Best Rating
Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
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Dan Hofmeister, CFA, FRM, CAIA, CPCU Associate
Director +1 908 882 1893 dan.hofmeister@ambest.com
Christopher Sharkey Associate Director, Public
Relations +1 908 882 2310
christopher.sharkey@ambest.com
Gregory Dickerson Director +1 908 882 1737
gregory.dickerson@ambest.com
Al Slavin Senior Public Relations Specialist +1
908 882 2318 al.slavin@ambest.com
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