S&P assigns Ameriprise notes A

Standard & Poor's said it assigned an A rating on Ameriprise Financial Inc.'s $750 million senior debt offering. The issuance has a scheduled maturity in 2020.

The proceeds may be used to retire $340 million in debt that matures in November 2010 and for additional financial flexibility, S&P said.

The ratings are based on the company's strong controlled distribution network led by more than 12,000 financial advisors and a marketing approach that provides excellent customer relationships, the agency said.

Offsetting these strengths is the company's weakened operating performance, primarily because of equity market declines from highs reached in 2007, as well as the ongoing sensitivity of its earnings to equity markets and investor activity, S&P said.

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