Financial Services Industry
Industry: Email Alert RSS FeedFitch downgrades TIG; revises Fairfax's rating outlook to negative. (Insurance News: Advertisement).(Fitch Ratings reports on TIG Holdings Inc. and Fairfax Financial Holdings Ltd.)(Brief Article)
National Underwriter Property & Casualty-Risk & Benefits Management, July, 2002 by Lawless, Brett
Fitch Ratings has revised its Rating Outlook to Negative from Stable for the debt securities of Fairfax Financial Holdings Limited (Fairfax) and the insurer financial strength (IFS) ratings of the Fairfax Primary Insurance Group. The senior debt and IFS ratings for the Fairfax Primary Group are 'BB ' and 'BBB ', respectively.
The Stable Rating Outlook on the 'A-' IFS rating of the Odyssey Re Group is unaffected. Fitch has also removed TIG Insurance Group (TIG) from the Fairfax Primary Insurance Group for rating purposes, and downgraded its IFS rating one notch to 'BBB' from 'BBB ' and assigned a 'BB' rating to the outstanding senior debt of its parent--TIG Holdings, Inc. The Rating Outlook for TIG is Negative. These actions largely reflect: (1) TIG's moderate...
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