Fitch affirms Ameriprise Financial

Fitch Ratings said it affirmed Ameriprise Financial Inc.'s issuer default rating at A and the insurer financial strength ratings of its primary life insurance subsidiaries at AA-.

The outlook has been revised to stable from negative.

This ratings reflect the company's strong balance sheet fundamentals with equity-adjusted leverage of 19.5% and a net unrealized gain on investments of $1 billion as of March 31, Fitch said.

A key rating concern is the company's above-average equity market exposure related to the company's large variable annuity business, the agency said.

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