Moody’s turns Block outlook to positive

Moody’s Investors Service said it revised its outlook for Block Financial LLC to positive from stable and affirmed its Baa3 senior unsecured rating.

"If H&R Block can sustain small tax filing market share gains while growing its average fee per filer through price increases and wider adoption of payment and other services surrounding the financial life of its tax filing customers, the credit profile would be improved," said Edmond DeForest, a Moody's senior vice president, in a press release.

Moody’s noted it could raise Block’s rating if it maintains its robust operating performance, low financial leverage and conservative financial strategies.

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