Moody's rates Ameriprise notes A3

Moody's Investors Service said it assigned an A3 debt rating to with a stable outlook to Ameriprise Financial, Inc.'s roughly $150 million issuance of 10-year fixed-rate senior unsecured notes.

The offering is a re-opening of the $600 million of 4% senior notes issued in September 2013 and a drawdown from a shelf registration filed in April 2012.

"The modest additional debt issuance will have minimal impact on Ameriprise's financial flexibility. The debt issuance is primarily for general corporate purposes and will only have a minor effect on adjusted financial leverage (in the 28% range at Sept. 30) and coverage ratios," Moody's assistant vice president Shachar Gonen said in a news release.

The agency said Ameriprise's ratings are based on the company's productive financial advisor field force with favorable retention, low expense structure and broad product depth. Ameriprise also benefits from a strong brand name, robust capital levels (NAIC company action level (CAL) RBC ratio in the 470% range at Sept 30) and solid financial flexibility from having substantial liquid assets available at the holding company.

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