Bloomberg News

S&P Will Post `Double-Digit' Growth, McGraw-Hill Chairman Says

October 06, 2005

McGraw-Hill Cos., owner of Business Week magazine, this year will post ``double-digit'' revenue and profit growth at its Standard & Poor's credit-rating unit, said Chief Executive Terry McGraw.

``It's going to remain quite strong, on the ratings and non-ratings side,'' McGraw said in an interview today. ``Structured finance is where the growth is'' with demand for reports on products such as mortgage-backed securities, he said.

The company, which gets more than two-thirds of its operating profit from Standard & Poor's, is also recording strong sales of textbooks by its educational publishing unit, he said. The division, its largest, is ``having a very good year,'' McGraw said.

The New York-based company will report third-quarter results on Oct. 20. McGraw-Hill is forecast to report per-share profit rose 13 percent to 96 cents, according to the average estimate of 10 analysts surveyed by Thomson Financial.

Shares of McGraw-Hill rose 36 cents to $46.24 at 12:36 p.m. in New York Stock Exchange composite trading. The shares had risen 15 percent over the past 12 months before today.

To contact the reporter on this story: Aimee Picchi in New York at apicchi@bloomberg.net.

To contact the editor responsible for this story: Emma Moody at emoody@bloomberg.net.


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