On Jan. 29, 2009, Standard&Poor's Ratings Services revised its outlook on Ameriprise Financial Inc. and its insurance subsidiaries--RiverSource Life Insurance Co. and RiverSource Life Insurance Co. of New York--to negative from stable. At the same time, Standard&Poor's affirmed its 'A' counterparty credit rating on Ameriprise Financial and its 'AA-' counterparty credit and financial strength ratings on the operating companies (collectively referred to as RiverSource Life). The revised outlook reflects Ameriprise Financial's diminished earnings power resulting from the severe market declines. The reduced earnings capacity also results in a decline in fixed-charge coverage and lower levels of noninsurance cash flows to the holding company. We still view the company's coverage and diversity of cash flows as strong,
