The counterparty credit rating on Ameriprise Financial Inc. reflects the company's strong balance sheet and strong cash coverage of its stable life insurance and asset management operations, supported by an innovative financial advisory distribution channel. These positive factors are somewhat offset by sensitivity to equity-market volatility and the competitive markets in which the company operates. Ameriprise Financial, Inc. formerly American Express Financial Advisors, a division of American Express Co., provides financial planning, asset management, and insurance services and products to individuals, businesses, and institutions. The holding company's earnings capacity from subsidiaries is very strong. Compared to its peers, the holding company's cash flows are less restricted because of its sizeable asset management business, from which dividends are not regulated. Cash
