SAN FRANCISCO (Standard&Poor's) June 17, 2010--Standard&Poor's Ratings Services today assigned its 'BBB-' rating on Toronto-based Fairfax Financial Holdings Ltd.'s pending senior unsecured debt issuance of C$275 million. The issuance has a 10-year maturity, and the company will use the proceeds for general corporate purposes, including the potential extinguishment of existing debt obligations. The rating reflects Fairfax's strong business and financial profiles. Fairfax--through its insurance operating subsidiaries, including Odyssey Reinsurance, Northbridge Financial, Crum&Forster, and Zenith National (acquired in May 2010)--maintains a diversified competitive presence in the North American property/casualty insurance market and in the global reinsurance market. Fairfax reported consolidated pretax operating income of US$1.2 billion for full-year 2009 and $364 million in the first
