SAN FRANCISCO (Standard&Poor's) Aug. 13, 2009--Standard&Poor's Ratings Services today said it assigned its 'BBB-' rating on Toronto-based Fairfax Financial Holdings Ltd.'s pending senior unsecured debt issuance of C$400 million. The issuance has a 10-year maturity, and the company will use proceeds for general corporate purposes, including the potential extinguishment of existing debt and other corporate obligations. The rating reflects Fairfax's strong business and financial profile. Fairfax, through its insurance operating subsidiaries, including Northbridge Financial, Crum&Forster, and Odyssey Re, maintains a competitive presence in the North American commercial insurance marketplace and the global reinsurance market. Fairfax reported consolidated pretax operating income of US$373 million in the first half of 2009, a satisfactory combined loss and
