NEW YORK (Standard&Poor's CreditWire) April 28, 2000--Standard&Poor's today commented on Canada-based Fairfax Financial Holdings Ltd.'s (Fairfax) announcement that it has signed a definitive agreement to acquire Sen-Tech International Holdings Inc. (Sen-Tech). The transaction will be financed through Fairfax's wholly owned subsidiary, United States Fire Insurance Co., or one of the other subsidiaries in the Crum&Forster family, for a total cash purchase price of $65 million. Sen-Tech is an insurance holding company that owns New York-based property/casualty insurer Seneca Insurance Co. Inc. (Seneca) (triple-'Bpi' financial strength rating). With net premiums written of $86.6 million in 1999, Seneca specializes in offering inner-city mainstreet and specialty commercial coverages to mid- and small-size businesses, particularly in the New
