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Fitch affirms H&R Block
Fitch Ratings said it resolved the rating watch negative status for H&R Block Inc. and Block Financial Corp. by affirming H&R Block's issuer default rating at BBB and Block Financial's issuer default rating at BBB and senior unsecured debt at BBB.
In addition, Fitch said it has upgraded the following ratings for Block Financial: short term issuer default rating to F2 from F3 and commercial paper rating to F2 from F3.
The outlook is stable.
Fitch noted that the resolution of the rating watch negative status and affirmation of the long-term issuer default rating reflects H&R Block completion of the sale of Option One Mortgage Corp. on April 30, which generated $230 million in net proceeds.
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