- Language: English
- Published: October 2012
Fairfax Financial Holdings Ratings Raised To 'BBB-' From 'BB+'; Outlook Stable
- ID: 1782335
- January 2009
- Standard & Poors
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
SAN FRANCISCO (Standard & Poor's) Jan. 28, 2009--Standard & Poor's Ratings Services today said it raised its counterparty credit and senior unsecured debt ratings on Toronto-based Fairfax Financial Holdings Ltd. to 'BBB-' from 'BB+'. The outlook is stable. "The upgrade reflects our enhanced view of the company's credit profile, which benefits from its increasing ownership of Toronto-based Northbridge Financial as well as from its improved financial flexibility resulting from significant investment gains during a period of challenging economic conditions," said Standard & Poor's credit analyst Michael Gross. Fairfax's competitive position is specifically enhanced by its increasing ownership of Toronto-based Northbridge Financial and its intent to secure 100% ownership in early 2009, subject to shareholder approval. Through its investment expertise, Fairfax...
Companies mentioned in this report are: Fairfax Financial Holdings Ltd.
Action: Outlook: Stable
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Fairfax Financial Holdings Ltd.