NEW YORK (Standard&Poor's) Nov. 6, 2013--Standard&Poor's Ratings Services said today that Blackberry Ltd.'s announcement that it will remain independent following completion of its strategic review has no effect on the ratings on Fairfax Financial Holdings Ltd. (BBB-/Stable/--). On Sept. 23, 2013, an investor consortium led by Fairfax signed a letter of intent to acquire BlackBerry for approximately $4.7 billion subject to due diligence to be completed by Nov. 4, 2013. However, no definitive transaction agreement was signed. Instead, Blackberry will issue $1 billion of 6% unsecured subordinated debentures with a term of seven years, and Fairfax has agreed to acquire $250 million of these notes. Fairfax currently owns about 10% of BlackBerry's common shares. The purchase
