{"id":16826,"date":"2011-10-28T18:48:24","date_gmt":"2011-10-28T22:48:24","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=16826"},"modified":"2011-10-28T18:48:24","modified_gmt":"2011-10-28T22:48:24","slug":"ffh-sp-assigns-positive-outlook","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=16826","title":{"rendered":"FFH: S&amp;P Assigns Positive Outlook"},"content":{"rendered":"<p>Standard &#038; Poor&#8217;s <a href=\"http:\/\/www.standardandpoors.com\/prot\/ratings\/articles\/en\/us\/?articleType=HTML&#038;assetID=1245322947833\">has announced<\/a>:<\/p>\n<blockquote>\n<ul>\n<li>Fairfax continues to successfully leverage its growing insurance business platform and related balance sheet assets to deliver above-average long-term investment performance for the consolidated organization.\n<li>We believe the company&#8217;s consolidated competitive profile is improving and better positioned to drive profitable future growth.\n<li>Therefore, we are revising our outlook on ultimate parent Fairfax Financial Holdings and its core insurance and reinsurance companies to positive from stable.\n<li>We are affirming our &#8216;BBB-&#8216; counterparty rating on Fairfax Financial Holdings and its intermediary holding companies and our &#8216;A-&#8216; financial strength ratings on its core insurance operating companies.<\/ul>\n<p><b>&#8230;<\/b><br \/>The positive outlook reflects the 1-in-3 likelihood of a one notch upgrade on FFH&#8217;s core insurance and reinsurance operating companies in the next 24 months.<br \/><b>&#8230;<\/b><br \/>We could lower the ratings on Fairfax Group if its consolidated capital adequacy decreases below a very strong level, if the company reports major adverse reserve development&#8211;a development of more than two percentage points of prior year net loss reserves&#8211;if earnings volatility increases over a multiyear period excluding the effect of the equity hedge and Consumer Price Index-linked securities, or if its core subsidiaries&#8217; underwriting performance consistently lags the underwriting performance of the industry.<\/p><\/blockquote>\n<p>Fairfax has the following preferreds outstanding: FFH.PR.C, FFH.PR.E, FFH.PR.G and FFH.PR.I. All are FixedResets; all are relegated to the Scraps index on credit concerns.<\/p>\n<p>S&#038;P rates the preferreds P-3; <a href=\"http:\/\/www.dbrs.com\/issuer\/134\">DBRS rates Pfd-3<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Standard &#038; Poor&#8217;s has announced: Fairfax continues to successfully leverage its growing insurance business platform and related balance sheet assets to deliver above-average long-term investment performance for the consolidated organization. We believe the company&#8217;s consolidated &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-16826","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/16826","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16826"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/16826\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16826"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16826"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16826"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}