- Published: May 2012
Fairfax Financial Holdings Ltd.'s Preferred Shares Assigned Ratings
- Published: September 2010
- Standard & Poors
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Research type: News
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SAN FRANCISCO (Standard & Poor's) Sept. 28, 2010--Standard & Poor's Ratings Services today said it assigned its 'BB' global scale and 'P-3' Canadian scale ratings on Toronto-based Fairfax Financial Holdings Ltd.'s pending issuance of up to C$250 million in preferred shares, with an option on an additional C$50 million available to the underwriters. Fairfax intends to issue the preferred shares from its current $2 billion universal shelf filing. It will use the proceeds to augment its cash position, to increase short-term investments and marketable securities held at the holding company, to retire outstanding debt and other corporate obligations, and for general corporate purposes. The ratings on Fairfax reflect its strong business and financial profiles. Fairfax, through its insurance operating subsidiaries--including...
Companies mentioned in this report are: Fairfax Financial Holdings Ltd.
Action: New Rating
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Fairfax Financial Holdings Ltd.
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