S&P rates Ameriprise notes A

Standard & Poor's said it assigned an A debt rating to Ameriprise Financial Inc.'s pending senior unsecured debt issuance of $600 million.

The issuance has a 10-year maturity.

The proceeds will be used for general corporate purposes, which may include repaying all or part of outstanding senior notes due in 2015 and 2039.

Ameriprise maintains a competitive business profile encompassing a diversified product set, offering wealth and advice management, brokerage and protection products through its well-branded distribution network, S&P said.

The agency said it expects the franchise to remain very strong, generating positive net revenue and pretax operating income growth, the agency said, as well as a return on assets of at least 1%.

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