NEW YORK (Standard&Poor's) April 15, 2004--Standard&Poor's Ratings Services said today that it assigned its preliminary 'BB' senior debt, 'BB-' subordinated debt, and 'B+' preferred stock ratings to Fairfax Financial Holding's (NYSE:FFH; BB/Stable/--) $750 million universal shelf. At this time, the shelf has not become effective. FFH has announced that it intends to file a preliminary shelf with both the Canadian securities regulatory authorities and a shelf registration statement with the U.S. SEC. "FFH intends to use the shelf to exchange new 7.75% senior notes due 2012 that will be registered with the SEC," said Standard&Poor's credit analyst Damien Magarelli. "The exchange will be for all 7.75% senior notes due 2012 that FFH will issue
