SAN FRANCISCO (Standard&Poor's) July 21, 2010--Standard&Poor's Ratings Services today said it assigned its 'BB' global scale and 'P-3' Canadian scale ratings on Toronto-based Fairfax Financial Holdings Ltd.'s pending issuance of up to C$200 million in preferred shares, series G, with an option on an additional C$50 million available to the underwriters. Fairfax intends to issue the preferred shares from its current $2 billion universal shelf filing. It will use the proceeds to augment its cash position, to increase short-term investments and marketable securities held at the holding company level, to retire outstanding debt and other corporate obligations from time to time, and for general corporate purposes. The ratings on Fairfax reflect its strong business and financial
