S&P Global Inc. (SPGI) - NYSE
  • Feb. 5, 2013, 11:07 AM
    More on the McGraw Hill (MHP -4.9%) suit: The company's market cap has fallen about $3B over the past two days, writes Scott Krisiloff. Even admitting S&P was complicit in MBS blowups, it certainly wasn't the direct cause. It's therefore difficult to conceive of a settlement anywhere near this high of an amount. For comparison, BP settled with the DOJ for $4B.
    | Feb. 5, 2013, 11:07 AM | 2 Comments
  • Feb. 5, 2013, 10:32 AM

    McGraw-Hill (MHP -5.8%) slides anew as the DOJ files its suit alleging S&P knowingly gave unwarranted AAA ratings to MBS in order to get more business from issuers. Just maybe there's a problem with the industry-issuer model? What was that Pacino movie ... "The whole system is out of order!" Moody's (MCO-1.7%.

    | Feb. 5, 2013, 10:32 AM | 1 Comment
  • Feb. 4, 2013, 3:46 PM

    More on McGraw-Hill (MHP -14.5%): The expected suit follows the breakdown in talks between S&P and the DOJ over the rating agency's AAA ratings on 30 CDOs in early 2007. The DOJ had reportedly sought "10 figures plus" and an admission of guilt. S&P: "(We) deeply regret that our CDO ratings failed to fully anticipate the rapidly deteriorating condition in the U.S. mortgage market ... a DOJ lawsuit would be entirely without factual or legal merit." Moody's (MCO -8%).

    | Feb. 4, 2013, 3:46 PM | 20 Comments
  • Feb. 4, 2013, 1:36 PM

    McGraw-Hill (MHP -1.6%) slips lower after the WSJ reports that the Justice Department and state prosecutors intend to file civil charges against S&P in which wrongdoing at the unit's rating agency will be alleged.

    | Feb. 4, 2013, 1:36 PM
  • Jan. 22, 2013, 12:19 PM

    Independent credit-rating agency Egan-Jones is barred by the SEC for 18 months from issuing ratings (as an NRSRO) on governments and ABS. The firm was charged with saying on its SEC registration statement it had been issuing ratings since 1995, when it had not. The industry-issuer model lives on.

    | Jan. 22, 2013, 12:19 PM | 3 Comments
  • Jan. 17, 2013, 11:29 AM

    Investors are starting to come into equities, says Michael Price, as they realize valuations compared to bonds are so much better. Price's real talent lies not in macro calls, but in value stocks, and he's a big fan of McGraw-Hill (MHP), particularly the S&P side once it's split off from the education business. Another pick is FXCM, where trading activity is picking up and higher interest rates could really start to boost earnings.

    | Jan. 17, 2013, 11:29 AM | 2 Comments
  • Jan. 4, 2013, 3:30 AM

    Moody's (MCO), S&P (MHP) and Fitch (FMLCF.PK) have failed in a bid to dismiss a lawsuit that accuses them of fraud in their ratings of Rhinebridge, an investment vehicle that failed in 2007. District Judge Shira Scheindlin said in a ruling that the agencies could be liable if they misstated their opinions or if the ratings were false or misleading. Morgan Stanley (MS), which helped create the vehicle, must also face the suit.

    | Jan. 4, 2013, 3:30 AM
  • Dec. 26, 2012, 2:20 PM

    Though many expected e-book prices to plummet after the DOJ coaxed top publishers to allow Amazon (AMZN), Barnes & Noble (BKS), and others to set their own prices, the NYT observes the impact of the DOJ settlement on publishers has thus far been muted. E-book prices haven't fallen "as broadly or drastically as anticipated," and the market's overall growth has slowed down. "At any given time about a third of e-book users haven’t bought a single title in the last 12 months," says industry analyst Michael Norris.

    | Dec. 26, 2012, 2:20 PM | 4 Comments
  • Dec. 6, 2012, 4:41 PM
    McGraw-Hill Companies (MHP): declares special dividend of $2.50/share. For shareholders of record Dec. 18. Payable Dec. 27. Ex-div date Dec. 16. This Special dividend supersedes the stock repurchase plan of $200M. (PR)
    | Dec. 6, 2012, 4:41 PM
  • Nov. 26, 2012, 10:53 AM
    The mega-deal by McGraw-Hill (MHP +2.1%) to sell its education business to Apollo Global Management has some read-through to rival Scholastic (SCHL +2%). After the company sent a disappointing message to investors with a steep cut in FY13 guidance and with the sector looking ripe for further consolidation, Scholastic bears watching.
    | Nov. 26, 2012, 10:53 AM
  • Nov. 26, 2012, 9:47 AM

    The textbook business maybe becoming too cutthroat, as McGraw-Hill (MHP) agrees to the sale of its education unit to Apollo Global Management (APO) for $2.5B. After closing, McGraw-Hill will be renamed McGraw-Hill Financial. Shares in MHP are currently halted. (PR)

    | Nov. 26, 2012, 9:47 AM | 3 Comments
  • Nov. 16, 2012, 4:40 AM

    The SEC yesterday criticized ratings agencies in an annual report, saying that S&P (MHP), Moody's (MCO), Fitch (FMLCF.PK) and two smaller firms don't always follow their own standards when rating deals. All nine firms reviewed in the report had "poor documentation" and "inaccuracies" when counting analysts' votes in a decision. The SEC hasn't determined whether its findings represent a "material regulatory deficiency."

    | Nov. 16, 2012, 4:40 AM
  • Nov. 6, 2012, 6:24 PM

    Apollo Global (APO) and P-E firm Apax Partners are the frontrunners to acquire McGraw-Hill's (MHP) education publishing business, sources tell the WSJ. The firms are said to have done "serious financial diligence" on the business. McGraw-Hill will choose a preferred bidder (an auction ended on Thursday), after which it will have to hammer out a deal. (previous)

    | Nov. 6, 2012, 6:24 PM
  • Nov. 5, 2012, 5:40 AM

    An Australian judge has ruled that S&P (MHP) was "misleading and deceptive" in assigning AAA ratings to two ABN Amro (RBS) structured debt issues in 2006, which plummeted in value during the financial crisis and caused losses of over 90% to 12 municipal investors that brought a lawsuit against the firm. The ruling represents the first time a ratings agency has been held liable for its opinion in this way.

    | Nov. 5, 2012, 5:40 AM | 2 Comments
  • Nov. 2, 2012, 10:25 AM

    McGraw-Hill's (MHP -1.4%) Q3 report was more notable for what was missing than what was reported. Hungry investors hoping for some insight into the sale of the company's education business were left only with a comment indicating a decision should be finalized in the coming weeks. The deal price is still anybody's guess.

    | Nov. 2, 2012, 10:25 AM
  • Nov. 2, 2012, 7:36 AM

    More on McGraw-Hill's (MHP) Q3: Segment revenue gains led by S&P Ratings, up 22% Y/Y to $502M, while McGraw-Hill Education sales fell 11% to $836M. The company increases its 2012 EPS guidance to $3.35-$3.40. (PR)

    | Nov. 2, 2012, 7:36 AM
Company Description
McGraw Hill Financial, Inc. is a content and analytics provider serving the capital, commodities and commercial markets. The capital markets include asset managers, banks, exchanges, issuers and financial advisors; the commodities markets include producers, traders and intermediaries within... More
Sector: Services
Country: United States