NY -- Standard&Poor's CreditWire 7/28/97 -- Standard&Poor's today has assigned its triple-'B'-plus rating to Canadian-based Fairfax Financial Holdings Ltd.'s (Fairfax) $125 million (C$169 million) senior unsecured notes offering due 2037, to be sold under Rule 144A with registration rights. At the same time, Standard&Poor's has affirmed its triple-'B'-plus issuer credit and senior debt ratings on the company. The net proceeds of the notes, together with the net proceeds from the company's recently completed issue of common equity (i.e., C$246 million) will be used to finance the recent acquisition of Sphere Drake Holdings Ltd. and its principal insurance subsidiaries, Sphere Drake Insurance PLC and Sphere Drake Insurance (Bermuda) Ltd. for a purchase price of approximately
