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 $750 million, 5.2% 10-year senior unsecured notes, due Feb. 25, 2035, issued by Ameriprise Financial, Inc. (Ameriprise Financial) (headquartered in Minneapolis, MN) [NYSE: AMP]. The outlook assigned to this Credit Rating (rating) is stable.

The proceeds from Ameriprise Financial’s recent $750 million debt issuance are expected to be used for general corporate purposes, including repayment of $500 million, 3.0% senior unsecured notes due in April 2025. Financial leverage and interest coverage ratios are within rating guidelines.

The Long-Term Issuer Credit Rating of “a-” (Excellent) for the insurance operations of Ameriprise Financial remain unchanged.

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