AM Best Assigns Issue Credit Rating to Ameriprise Financial, Inc.’s New Senior Unsecured Notes
09 Novembro 2023 - 4:47PM
Business Wire
AM Best has assigned a Long-Term Issue Credit Rating of
“a-” (Excellent) to the recently announced $600 million, 5.7%
5-year senior unsecured notes, due Dec. 15, 2028, issued by
Ameriprise Financial, Inc. (Ameriprise Financial) (headquartered in
Minneapolis, MN) [NYSE: AMP]. The outlook assigned to this 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, which may include pre-funding of senior
unsecured notes of $550 million due in October 2024.
AM Best notes that Ameriprise Financial’s projected adjusted
financial leverage with the new issue will increase temporarily but
will remain well within AM Best guidelines for its aforementioned
rating. Upon maturity of the 2024 senior unsecured notes, AM Best
expects the leverage measures to decline. 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.
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Wayne Kaminski Senior Financial Analyst +1 908
882 1916 wayne.kaminski@ambest.com
Christopher Sharkey Associate Director, Public
Relations +1 908 882 2310
christopher.sharkey@ambest.com
Jacqalene Lentz, CPA Director +1 908 882
2011 jacqalene.lentz@ambest.com
Al Slavin Senior Public Relations Specialist +1
908 882 2318 al.slavin@ambest.com
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