S&P rates Ameriprise notes A

Standard & Poor’s said it assigned an A rating to Ameriprise Financial Inc.’s recent senior unsecured debt issuance of $550 million.

The issuance has a 10-year maturity with a 3.7% coupon and the company will use the proceeds for general corporate purposes.

S&P also said it believes that Ameriprise has been opportunistic in its issuance to take advantage of low interest rates and its general corporate purposes may include prefunding its $350 million debt maturity in November 2015.

The company 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, the agency said.

The company is expected to maintain very strong financial metrics, generating positive net revenue and pre-tax operating income growth, S&P said.

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