S&P: Ameriprise outlook negative

Standard & Poor's said it revised the outlook on Ameriprise Financial Inc. to negative from stable and affirmed its A counterparty credit rating.

"The revised outlook reflects Ameriprise Financial's diminished earnings power resulting from the severe market declines," S&P analyst Ovadiah Jacob said in a statement.

"We still view the company's coverage and diversity of cash flows as strong, but they are at greater risk for the ratings level."

S&P said the affirmation is based on the continued strength of the group's business model, as well as its very strong capitalization and management's prudent actions, including an increased allocation of investments to cash, which has improved liquidity.

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