NY -- Standard&Poor's CreditWire 9/6/96 -- Standard&Poor's today has affirmed its triple-`B'-plus rating on Fairfax Financial Holdings Ltd.'s senior debt following its announcement to acquire the French reinsurer, Compagnie Transcontinentale De Reassurance through its wholly owned subsidiary Odyssey Reinsurance Corp. (formerly Skandia America Reinsurance Corp.). Additionally, Standard&Poor's has affirmed its triple-`B'-plus claims- paying ability rating of Odyssey Re. Total Fairfax debt affected is $C468.7 million. The affirmation on Fairfax's senior debt rating reflects Standard&Poor's opinion that leverage and coverage ratios will remain consistent with historical levels. Under the terms of the proposed transaction, Fairfax, pending further due diligence and regulatory approval, will finance the acquisition of Compagnie Transcontinentale through a combination of
