NEW YORK (Standard&Poor's) July 28, 2006--Standard&Poor's Ratings Services said today that it placed a number of its ratings on CreditWatch with negative implications, including its: -- 'BB' counterparty credit ratings on Fairfax Financial Holdings Ltd. (NYSE:FFH) and Crum&Forster Holdings Corp. -- 'BB-' counterparty credit rating on TIG Holdings Inc. (TIG Holdings). -- Various counterparty credit and financial strength ratings on Fairfax's operating insurance company subsidiaries. -- 'BBB-' counterparty credit rating on Odyssey Re Holdings Corp. (NYSE:ORH). -- 'A-' counterparty credit and financial strength ratings on Odyssey America Reinsurance Corp., Clearwater Insurance Co., and Hudson Specialty Insurance Co. and 'A-' financial strength rating on Falcon Insurance Co. (Hong Kong) Ltd. "These ratings were placed on