Press Release - JUNE 11, 2019

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

 Gregory Dickerson
Senior Financial Analyst
+1 908 439 2200, ext. 5161

Jennifer Marshall, CPCU, ARM
+1 908 439 2200, ext. 5327
Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159

Jim Peavy
Director, Public Relations
+1 908 439 2200, ext. 5644


OLDWICK - JUNE 11, 2019
AM 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 CAD500 million 4.23% senior unsecured notes due June 2029. 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. The outlook assigned to the Credit Rating (rating) is stable.

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 Understanding 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 rating agency and information provider with a unique focus on the insurance industry.

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AMB# Company Name
058364 Fairfax Financial Holdings Limited