Fitch rates TIAA Asset Management notes AA-

Fitch Ratings said it assigned an AA- rating to $2 billion of senior unsecured notes issued by TIAA Asset Management Finance Co., LLC, (TAMF), a subsidiary holding company of Teachers Insurance and Annuity Association of America (TIAA) formed to hold the equity interests in Nuveen Investments, Inc. and its subsidiaries.

Fitch said the AA- debt rating reflects standard notching based on Fitch's view that Nuveen is a “strategically important” subsidiary of TIAA. Fitch's view of Nuveen's strategic importance considers TIAA's full ownership and potential synergies providing products and services in markets that are strategically important to TIAA, including the mutual fund, asset management and retirement services markets.

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