SAN FRANCISCO (Standard&Poor's) Jan. 25, 2010--Standard&Poor's Ratings Services said today that it assigned its 'BB' global-scale and 'P-3' Canadian-scale ratings to Toronto-based Fairfax Financial Holdings Ltd.'s (BBB-/Stable/--) recent issuance of C$200 million in preferred shares, with an option on an additional C$50 million available to the underwriters. Fairfax issued the preferred shares from its current US$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 profile. Fairfax, through its insurance operating subsidiaries--including
