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S&P lifts Ameriprise
Standard & Poor's said it raised the counterparty credit rating on Ameriprise Financial Inc. to A from A-.
The outlook is stable.
The upgrade reflects the agency's view that the company continues to successfully execute on its strategy and has established its brand in the marketplace, according to S&P.
The counterparty credit rating reflects the company's strong balance sheet and strong cash coverage of its stable life insurance and asset management operations, supported by an innovative financial advisory distribution channel, S&P said.
These factors are somewhat offset by sensitivity to market volatility and competitive pressure in its key segments, the agency noted.
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