This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration. Need a new registration confirmation email? Click here
A.M. Best Co. has assigned a debt rating of “bbb” to the forthcoming CAD 400 million 6.40% senior unsecured notes due 2021 to be issued by
Fairfax Financial Holdings Limited (Fairfax) (Toronto) [TSX: FFH] under its existing shelf registration. The assigned outlook is stable.
The proceeds will be used primarily to purchase additional notes tendered in response to Fairfax’s May 4, 2011 tender offer and to pay costs associated with that offer. Any funds not used for those purposes will be used to augment Fairfax’s cash position, to increase short-term investments and marketable securities at the holding company to retire outstanding debt and for other corporate purposes.