Moody's affirms BlackRock

Moody's Investors Service said it affirmed the A1 senior unsecured and P-1 short-term ratings of BlackRock, Inc. with a stable outlook.

Moody's said the affirmation follows the company's announcement that it will repurchase $1 billion of shares in a secondary offering of 35.2 million BlackRock shares owned by Barclays Bank plc with an approximate value of $6.1 billion. BlackRock intends to fund the purchase of shares through available cash and the issuance of $500 million of commercial paper.

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