01:37 PM EDT, 04/30/2024 (MT Newswires) -- Fitch Ratings said Tuesday that it revised Fairfax Financial Holdings' ( FRFHF ) rating outlook to positive from stable.

Also, Fitch affirmed Fairfax Financial's ( FRFHF ) senior debt rating at BBB and preferred stock rating at BB+. The rating agency affirmed Fairfax's long-term issuer default rating at BBB+.

"The Outlook revision reflects strong and improving capitalization with a reasonable financial leverage ratio (FLR) for the rating," the agency noted. "The Positive Outlook also reflects improved operating earnings-based fixed charge coverage driven by strong financial performance from favorable underwriting and increased investment yields."

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