Fitch affirms Ameriprise

Fitch Ratings said it affirmed the A issuer default rating of Ameriprise Financial Inc. following its plans to acquire the long-term asset management business of Columbia Management from Bank of America.

The outlook remains negative.

Ratings reflect the company's conservative financial management over the past few years, which has positioned the company well to weather the turmoil in the financial markets, Fitch said.

Ratings also reflect expectation that Ameriprise will continue to maintain appropriate risk-adjusted capitalization of the primary life insurance subsidiaries, the agency said.

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