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McGraw-Hill Companies Inc.

5/24/2013, 9:26 PM ET

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Monday, November 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. 2 Comments [Financials, Top Stories]
Friday, November 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. Comment! [Consumer]
Friday, November 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) Comment! [Consumer, Earnings]
Friday, November 2, 2012, 7:15 AM McGraw-Hill (MHP): Q3 EPS of $1.33 beats by $0.03. Revenue of $1.95B (+2% Y/Y) misses by $20M. (PR) Comment! [Earnings]
Friday, November 2, 2012, 12:05 AM Notable earnings before Friday’s open: ALU, ANR, ARCO, BEAM, BGCP, BPL, BPO, CTB, CVX, DNDN, FIG, HES, HUN, ITT, MHP, NI, NRF, NRG, NVAX, NVE, RL, SEE, SSYS, TRI, VIAB, VRX, WCRX, XEC, YRCW Comment! [Earnings]
Thursday, November 1, 2012, 5:30 PM Notable earnings before Friday’s open: ALU, ANR, ARCO, BEAM, BGCP, BPL, BPO, CTB, CVX, DNDN, FIG, HES, HUN, ITT, MHP, NI, NRF, NRG, NVAX, NVE, RL, SEE, SSYS, TRI, VIAB, VRX, WCRX, XEC, YRCW Comment! [Earnings]
Monday, October 29, 2012, 9:08 AM McGraw-Hill (MHP) declares $0.255/share quarterly dividend, in line with previous. Forward yield 1.82%. For shareholders of record Nov 28. Payable Dec 12. Ex-div date Nov 26. (PR) Comment! [Dividends]
Friday, October 26, 2012, 8:11 AM Apax Partners and Apollo Global Management (APO) are the frontrunners in the race for McGraw-Hill's (MHP) Education unit, the WSJ reports, with a deadline for bids closing yesterday. McGraw-Hill could still decide to spin off the subsidiary, which previous reports said could be worth $3B, and is due to make a decision by the year-end. Comment! [M&A]
Wednesday, October 10, 2012, 4:18 PM McGraw-Hill's (MHP) education unit is expected to draw final bids later this month from PE firms Bain Capital and Apollo Global (APO) as well as rival college textbook publisher Cengage Learning in a deal that could fetch $3B, Reuters reports. MHP wants to get more than $3B, and could still decide against a sale if the bids fail to meet its expectations. Comment! [Consumer, M&A]
Wednesday, October 10, 2012, 3:43 PM Moody's (MCO) is none too pleased about getting passed over on rating a CMBS deal - a part of the market in which it previously had a lock. "Not a single one of these loans merits investment-grade consideration," says Moody's analyst Tad Philipp of the $1.1B security issued by JPMorgan. S&P (MHP) - which got the business - stands by its IG ratings. Comment! [Financials]
Wednesday, August 29, 2012, 3:05 PM S&P's former chief credit officer, Mark Adelson, has left the firm 8 months after being demoted. Who? Adelson rattled cages in 2009 as he was key to revising the way S&P rated CMBS, resulting in heavy downgrades which weren't matched by the agency's competitors. Needless to say, S&P since has lost quite a bit of business to those competitors. 1 Comment [Financials]
Sunday, August 19, 2012, 3:54 AM Moody's (MCO) and S&P (MHP) will face a lawsuit that they gave inflated ratings to Morgan Stanley (MS) mortgage bonds after a judge declined on Friday not to throw out most of the case. An internal S&P IM conversation seems fairly damning: "That deal is ridiculous," says an analyst. "We should not be rating it." Says another: "We rate every deal." The first says: "It could be structured by cows and we would rate it." Comment! [Financials, Top Stories]
Friday, August 3, 2012, 4:31 AM McGraw-Hill (MHP) has received bids for its education unit from Bain, Thomas H. Lee Partners, Apollo Global Management (APO) and Cengage Learning, Reuters reports. The offers could value the business, the world's second-largest education company by sales, at around $3B. McGraw-Hill said last week it was evaluating a sale as an alternative to a spin-off. Comment! [Consumer, M&A]
Thursday, August 2, 2012, 9:41 AM McGraw-Hill (MHP) declares $0.255/share quarterly dividend, in line with previous. Forward yield 2.19%. For shareholders of record Aug 28. Payable Sep 12. Ex-div date Aug 24. (PR) Comment! [Dividends]
Friday, July 27, 2012, 4:12 PM McGraw-Hill Companies (MHP) declares $0.30/share quarterly dividend, 17.6% increase from prior dividend of $0.255. Forward yield 2.55%. For shareholders of record Aug 09. Payable Aug 30. Ex-div date Aug 07. (PR) Comment! [Dividends]
Friday, July 27, 2012, 4:09 PM McGraw-Hill Companies (MHP) declares $0.30/share quarterly dividend, 17.6% increase from prior dividend of $0.255. Forward yield 2.55%. For shareholders of record Aug 09. Payable Aug 30. Ex-div date Aug 07. (PR) Comment! [Dividends]