Company Website: http://www.ambest.com
OLDWICK, N.J. -- (Business Wire)

AM Best has assigned indicative Long-Term Issue Credit Ratings (Long-Term IRs) of “bbb+” (Good) to senior unsecured debt, “bbb” (Good) to subordinated debt and “bbb-” (Good) to preferred stock of the short-form base prospectus filed on Oct. 11, 2023 (base shelf prospectus) of Fairfax Financial Holdings Limited (Fairfax) (Toronto, Canada) [TSX: FFH]. The outlook assigned to these Credit Ratings (ratings) is stable. The existing ratings of Fairfax and its insurance subsidiaries are unchanged.

The assigned ratings for securities that may be issued under the shelf registration statement are consistent with the current ratings of Fairfax’s outstanding securities. The new base shelf prospectus replaces Fairfax’s previous shelf registration, which was set to expire on Nov. 8, 2023. Since Fairfax qualifies as a “Well-Known Seasoned Issuer” in Canada, new regulations have removed the CAD 8 billion cap imposed on prior shelf registrations. Consequently, the indicative Long-Term IRs for the previous shelf registration have been withdrawn. The company’s financial leverage and coverage ratios are within AM Best’s guidelines for Fairfax’s current ratings and are expected to remain so over the near term.

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 Guide to Best's Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

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

Copyright © 2023 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

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Contacts:

Dan Hofmeister, CFA, FRM, CAIA, CPCU
Senior Financial Analyst
+1 908 882 1893
dan.hofmeister@ambest.com

Gregory Dickerson
Director
+1 908 332 2531
gregory.dickerson@ambest.com

Christopher Sharkey
Associate Director, Public Relations
+1 908 882 2310
christopher.sharkey@ambest.com

Al Slavin
Senior Public Relations Specialist
+1 908 882 2318
al.slavin@ambest.com

Source: AM Best