Fitch rates Ameriprise notes A-

Fitch Ratings said it has assigned an A- rating to Ameriprise Financial Inc.'s issuance of retail senior unsecured debt due in 2039, adding that the debt issuance has no effect on existing ratings.

Fitch noted that it revised the outlook for the company and its life insurance subsidiaries to negative from stable on March 27.

Fitch said it believes that the debt issuance will add to Ameriprise's already good financial flexibility by partially pre-funding debt maturing in late 2010 while the negative outlook reflects Fitch's concern about further deterioration in the financial markets and the impact on capital and earnings profile.

Affected ratings include Ameriprise Financial's issuer default rating A; $800 million of 5.35% senior notes due Nov. 15, 2010 A-; $700 million of 5.65% senior notes due Nov. 15, 2015 A-; and $500 million of 7.518% junior subordinated notes due June 1, 2066 BBB+.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.