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AM Best has assigned a Long-Term Issue Credit Rating (Long-Term IR) of “a-” (Excellent) to the recently issued CAD 400 million, 4.4% senior unsecured notes, due February 2036, of Fairfax Financial Holdings Limited (Fairfax) (Toronto, Canada) [TSX: FFH]. The outlook assigned to this Credit Rating (rating) is stable. At the same time, AM Best has commented that the Long-Term IR of “a-” (Excellent) on the CAD 300 million 5.1% senior unsecured notes, due August 2055, originally issued in August 2025 by Fairfax, remains unchanged despite the additional notes being added as part of the same series. Fairfax has announced that it has issued an additional CAD 250 million of senior unsecured notes, bringing the total to CAD 550 million. The outlook of this rating is stable.
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 the net proceeds from the offering to refinance, repay or redeem outstanding debt, equity or other corporate obligations, to pursue potential acquisition or investment opportunities (which may include acquisitions of minority interests in its subsidiaries), and for general corporate purposes.
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