AM Best has assigned a Long-Term Issue Credit Rating of “a-” (Excellent) to the recently announced $500 million, 4.5% 10-year senior unsecured notes, due May 13, 2032, issued by Ameriprise Financial, Inc. (Ameriprise Financial) (headquartered in Minneapolis, MN) [NYSE: AMP]. The outlook assigned to the Credit Rating (rating) is stable. All other ratings of Ameriprise Financial and its subsidiaries are unchanged.

The proceeds from this debt issuance are expected to be used for general corporate purposes. AM Best notes that Ameriprise Financial’s projected adjusted financial leverage with the new issue will increase to a range of 33%, but will remain well within guidelines for its aforementioned rating. AM Best views Ameriprise Financial’s debt-servicing capabilities favorably, with sufficient liquidity to service its debt, a well-laddered debt maturity structure and strong interest coverage.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2022 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220513005282/en/