S&P ups H&R Block outlook to stable

Standard & Poor's said it revised its outlook on H&R Block Inc. to stable from negative and affirmed its BBB-/A-3 counterparty credit rating on Block.

The agency said that the stable outlook reflects progress Block has made toward selling Option One's servicing business and improving liquidity.

Block announced on March 17 that it signed a definitive agreement to sell its Option One subsidiary to an entity sponsored by W.L. Ross & Co., S&P noted, adding that when finalized, this sale will substantially reduce Block's remaining exposure to Option One.

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