NEW YORK (S&P Global Ratings) July 30, 2020--S&P Global Ratings today said that its ratings on Ameriprise Financial Inc. (AMP; A/Negative/--) are unchanged after the company's second-quarter results highlighted the negative impact of current market conditions. AMP reported a generally accepted accounting principles (GAAP) net loss of $539 million for second-quarter 2020, compared with a $492 million net income in second-quarter 2019. The company has experienced significant volatility in its reported GAAP earnings because of accounting-related impacts associated with changes in credit spreads and the valuation of derivatives used to hedge the company's variable annuity living benefit guarantees. As a result, the company reported a significant increase in its GAAP earnings in the first quarter, which was essentially reversed in
