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DBRS confirms H&R Block
DBRS Inc. said it confirmed the ratings of H&R Block, Inc. and its subsidiaries, Block Financial Corp., LLC and H&R Block Canada, Inc., including the long-term ratings of BBB (high) and short-term ratings of R-2 (high).
The trend is stable.
The confirmation recognizes the substantial strength of Block's well-established franchise and leading market position within the tax preparation business and its significant cash flow generating ability, according to the agency.
The company's sound earnings generation power and the low financial risk profile are factors as well, the agency noted.
Ratings also consider Block's letter of intent to sell its RSM McGladrey unit to McGladrey & Pullen for $610 million, DBRS said.
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