On February 26, 2025, Fitch Ratings announced its expectation to assign a Long-Term Issue Credit Rating of 'A-(EXP)' to Ameriprise Financial Inc.'s proposed issuance of $750 million of senior unsecured notes. The fixed rate of interest and maturity date will be determined at the time of issuance.
The proceeds from this debt issuance are expected to be used for general corporate purposes, which may include the repayment of $500 million of senior notes due in April 2025. Fitch anticipates a modest impact on the company's leverage and interest coverage metrics.
This expected rating is equalized with Ameriprise's 'A-' Long-Term Issuer Default Rating, reflecting the firm's largely unsecured corporate funding profile and average recovery prospects in a stressed scenario. The Stable Outlook on Ameriprise's ratings indicates Fitch's expectation for effective market risk management and sustained strong operating performance.
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