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Moody's rates Ameriprise notes A3
Moody's Investors Service said it assigned an A3 debt rating to Ameriprise Financial, Inc.'s anticipated issuance of about $500 million of three-year senior unsecured notes.
The notes are a drawdown from a shelf registration filed in February 2018, Moody's said.
The proceeds are expected to be used to repay about $300 million outstanding 7.3% notes due June 2019 and for general corporate purposes, the agency said.
The outlook is stable.
Moody's said that Ameriprise's A3 senior unsecured debt rating and stable outlook reflects the company's solid financial flexibility and very strong profitability.
Ameriprise continues to leverage its strong brand name and market position as it expands its sizable and productive field advisor force, the agency said.
Still, it maintained robust capital levels at its insurance operating companies, Moody's said.
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