...March 20, 2024 NEW YORK (S&P Global Ratings) March 20, 2024--S&P Global Ratings today said it assigned its '###' issue rating to Fairfax Financial Holdings Ltd.'s (###/Watch Pos/--) 6.35% $1 billion senior unsecured notes due 2054. The company intends to use the net proceeds of this offering for general corporate purposes. The notes will be the direct, unsecured obligations of Fairfax and will rank equally and ratably with all the other unsecured and unsubordinated indebtedness of the company. The notes will be effectively subordinated to any secured indebtedness of Fairfax to the extent of the assets securing such indebtedness. In addition, the notes will be structurally subordinated to all obligations of Fairfax's subsidiaries. Fairfax's financial leverage on consolidated and deconsolidated (excluding nonrecourse debt) bases declined to 31.6% and 27.9% at year-end 2023, respectively, compared with 33.8% and 29.4% at year-end 2022. The improved financial leverage primarily owed to strong...
