AM Best assigns an issue credit rating to the senior unsecured notes of Fairfax Financial Holdings Limited

OLDWICK, NJ–(BUSINESS THREAD)–AM Best has assigned a long-term issuance credit rating (IR long-term) of “bbb” (Good) to the recently announced $750 million, 5.625% senior unsecured notes, due on August 16, 2032, from Fairfax Financial Holdings Limited (Fairfax) (Toronto, Canada). The outlook assigned to the credit rating is positive.

Fairfax intends to use substantially all of the net proceeds from this offering to purchase a portion of the non-controlling interest in Allied World Assurance Company Holdings, Ltd, and to use the remainder for general corporate purposes.

Following the completion of the transaction discussed above, Fairfax’s financial leverage measures are expected to be slightly elevated compared to year-end 2021. However, after accounting for the expected proceeds from the sale of the business of Crum & Forster Insurance Group pets and the underwriting earnings of the rest. of 2022, leverage ratios are expected to decline in line with the end of the previous year. Fairfax’s long-term issuer credit rating of ‘bbb’ (Good), its long-term IRs and the ratings of its operating insurance subsidiaries remain unchanged.

This press release relates to the credit ratings that have been published on AM Best’s website. For all rating information relating to the release and relevant disclosures, including details of the office responsible for issuing each of the individual ratings referred to in this release, please see AM Best. Recent assessment activity Web page. For additional information on the use and limitations of credit rating opinions, see Best Credit Ratings Guide. For information on the appropriate use of Best credit ratings, Best performance assessments, Best credit pre-assessments and AM Best press releases, see Guide to proper use of Best ratings and reviews.

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 more than 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit

Copyright © 2022 by AM Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.


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