S&P rates Ameriprise notes A

S&P said it assigned its A senior unsecured debt rating to Ameriprise Financial Inc.'s proposed notes issuance.

Proceeds will be used for general corporate purposes.

“Following this issuance, and adjusting for $750 million senior debt repaid in March 2020, we expect AMP's financial leverage (including unfunded pension obligations and present value of operating leases), pro forma for year-end 2019, to be around 36% on a reported equity basis (less than 40% excluding accumulated other comprehensive income),” said S&P in a press release.

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