Fairfax’s Rs 52,878-Crore IDBI Bank Deal To Have Limited Impact On $2.3 Billion Cushion
Moody’s expects Fairfax Financial Holdings’ proposed Rs 52,878-crore acquisition of a majority stake in IDBI Bank to have a limited impact on the Canadian investor’s financial leverage, citing its funding strategy and substantial liquidity reserves. The rating agency (Moody) said Fairfax had $2.3 billion in cash and liquid investments at its holding company as of…