Moody’s moves Blucora view to negative

Moody’s Investors Service said it changed its outlook for Blucora, Inc. to negative from rating under review and confirmed its B1 ratings.

This rating action ends the review for downgrade started on Nov. 2, the agency said.

The review was prompted by the sale of Blucora’s tax software business for $620 million, after-tax. The surviving entity, consisting solely of Blucora's wealth management business, will be rebranded as Avantax.

“Moody's said Blucora's negative outlook reflects the level of uncertainty concerning how its financial and strategic policies may develop as it becomes attuned to being a monoline business,” the agency said in a press release.

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