AM Best Assigns Indicative Issue Credit Ratings to Fairfax Financial Holdings Limited

Executive Summary

• AM Best assigned indicative long‑term issue credit ratings to Fairfax Financial Holdings Ltd.’s newly filed shelf registration: “a‑” (Excellent) for senior unsecured issues, “bbb+” (Good) for subordinated issues, and “bbb” (Good) for preferred stock.
• The outlook on all three ratings is stable, and the new base shelf prospectus replaces Fairfax’s prior shelf registration that expired on 11 Nov 2025.
• As a Well‑Known Seasoned Issuer in Canada, Fairfax faces no regulatory limit on the aggregate principal amount it may issue under this shelf, and its leverage and coverage ratios remain within AM Best’s guidelines for the assigned ratings.

Key Details

• Ratings Assigned:
• Senior unsecured issues – “a‑” (Excellent)
• Subordinated issues – “bbb+” (Good)
• Preferred stock – “bbb” (Good)
• Outlook: Stable for all three ratings.
• Shelf Registration: New base shelf prospectus replaces the expired filing; no aggregate principal limit due to Well‑Known Seasoned Issuer status in Canada.
• Previous Ratings: AM Best withdrew ratings on the prior shelf registrations; existing Fairfax and subsidiary insurance ratings remain unchanged.
• Financial Metrics: Company’s financial leverage and coverage ratios are within AM Best’s guidelines for the current ratings and are expected to stay so in the near term.
• Reference Links: Full rating details available on AM Best’s “Recent Rating Activity” web page; guidance documents linked for proper use of ratings.

Notable Quotes

(No executive quotes provided in the release.)