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

NOVEMBER 22, 2024 02:14 PM (EST)

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

CONTACTS:

FOR IMMEDIATE RELEASE

OLDWICK - NOVEMBER 22, 2024 02:14 PM (EST)
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). 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.