S&P assigns Ameriprise notes A

Standard & Poor's said it assigned its A rating on Ameriprise Financial Inc.'s about $150 million senior unsecured notes while its other ratings on Ameriprise Financial and its subsidiaries are unaffected.

The outlook remains negative.

According to the agency, the issuance has a scheduled maturity in 2039 and is callable by Ameriprise Financial after five years.

"We expect the company to use proceeds from the notes to prefund a portion of the $800 million that it has scheduled to mature in the fall of 2010," said S&P credit analyst Ovadiah Jacob.

"Our ratings on Ameriprise Financial and its insurance subsidiaries are based on the group's very strong controlled distribution network led by about 12,000 financial advisors and a marketing approach that provides excellent customer relationships."

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