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A.M. Best Co. has assigned a debt rating of “bbb” to the forthcoming CAD 200 million 5.84%
10-year senior unsecured notes due 2022
Fairfax Financial Holdings Ltd. (Fairfax) (Toronto) (TSX: FFH). The assigned outlook is stable. All remaining ratings of Fairfax and its subsidiaries are unchanged.
The senior notes will be issued in Canada under a prospectus supplement to Fairfax’s short form base shelf prospectus dated December 10, 2010. The net proceeds of the offering will be used to augment Fairfax’s cash position, increase short-term investments and marketable securities held at the holding company level, retire outstanding debt and other corporate obligations from time to time, and for general corporate purposes.