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.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

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