03:40 PM EST, 11/22/2024 (MT Newswires) -- Fairfax Financial's ( FRFHF ) recently issued senior unsecured notes have been assigned a "bbb+" (Good) long-term issue credit rating by AM Best, the agency said Friday afternoon.

This covers the company's C$450 million at 4.73% senior unsecured notes due in November 2034 and C$250 million at 5.23% senior unsecured notes due in November 2054, the agency said, adding that the outlook for these ratings is positive.

Fairfax's long-term issuer credit rating, along with the ratings of its subsidiaries and other debt, remain unchanged. The company plans to use most of the net proceeds from the offering to repay outstanding preference shares, AM Best said.

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