DBRS gives Fairfax India BBB

DBRS said it gave BBB (low) issuer and unsecured senior note ratings to Fairfax India Holdings Corp. The trend is stable.

The ratings assigned to Fairfax India are primarily driven by DBRS’ expectation of support from its parent, Fairfax Financial Holdings Ltd. They are notched down from DBRS’ rating of the parent at BBB (high) with a stable trend, the agency said.

“The two-notch differential between the ratings of Fairfax India and Fairfax considers that the company is a non-insurance subsidiary based in Toronto whose underlying assets are predominantly located in India,” DBRS said in a press release.

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