AM Best Assigns Issue Credit Rating to Ameriprise Financial, Inc.’s New Senior Unsecured Notes

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has assigned a Long-Term Issue Credit Rating of “a-” (Excellent) to the recently announced $500 million, 4.5% 10-year senior unsecured notes, due May 13, 2032, issued by Ameriprise Financial, Inc. (Ameriprise Financial) (headquartered in Minneapolis, MN) [NYSE: AMP]. The outlook assigned to the Credit Rating (rating) is stable. All other ratings of Ameriprise Financial and its subsidiaries are unchanged.

The proceeds from this debt issuance are expected to be used for general corporate purposes. AM Best notes that Ameriprise Financial’s projected adjusted financial leverage with the new issue will increase to a range of 33%, but will remain well within guidelines for its aforementioned rating. AM Best views Ameriprise Financial’s debt-servicing capabilities favorably, with sufficient liquidity to service its debt, a well-laddered debt maturity structure and strong interest coverage.

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