NY -- Standard&Poor's CreditWire 4/8/96 -- Standard&Poor's today has affirmed its triple-`B'- plus senior debt rating of Fairfax Financial Holdings Ltd. and has removed the rating from CreditWatch, where it was placed Feb. 21, 1996 following Fairfax's announcement to acquire 100% of the stock of Skandia America Reinsurance Corp., headquartered in New York. At the same time, Standard&Poor's today has assigned its triple-`B'-plus senior debt rating to Fairfax's US$125 million note program. Additionally, Standard&Poor's triple-`B' claim-paying ability rating of Skandia America remains on CreditWatch with positive implications pending the transaction regulatory approval. These rating actions follow discussions Standard&Poor's recently had with the management teams of both Fairfax and Skandia America
