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S&P rates Block Financial notes BBB
S&P said it assigned its BBB issue-level rating to Block Financial LLC’s proposed $650 million of senior unsecured notes.
“We expect the transaction to be leverage neutral and the company to use the proceeds to refinance its $650 million senior unsecured notes due in October 2020,” S&P said in a press release.
Corporate parent H&R Block Inc. will guarantee the notes, which will rank pari passu to the company’s unsecured notes and committed unsecured line of credit facility.
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