Moody's confirms Block

Moody's Investors Service said it confirmed Block Financial LLC's Baa1 senior debt and Prime-2 short-term debt ratings with a stable outlook.

This concludes Moody's review for possible downgrade.

Block financial is a wholly owned, guaranteed funding subsidiary of H&R Block, Inc., the agency noted, adding that the rating confirmation reflects Block's improved liquidity and funding position, as well as its success in exiting the mortgage origination business and selling its Option One servicing business.

In addition to the sale of Option One, H&R Block recently completed the sale of H&R Block Financial Advisors to Ameriprise Financial Inc., Moody's added.

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