Bloomberg News

McGraw Hill Falls Most in Three Months Following Wells Notice

July 24, 2014

McGraw Hill Financial Inc (MHFI:US) fell the most in more than three months after the owner of the world’s largest credit rater received a notice from the U.S. Securities and Exchange Commission that the regulator may seek an enforcement action tied to rankings on commercial-mortgage backed securities.

Shares fell 2.46 percent to $80.65 at 10:05 a.m. in New York, the most since April 10.

McGraw Hill Financial said yesterday in a regulatory filing that it received a Wells notice on July 22 relating to six CMBS transactions graded by its Standard & Poor’s division in 2011 and “public disclosure made by S&P regarding those ratings thereafter.”

The SEC may pursue actions including a cease-and-desist order, civil money penalties or a suspension or revocation of the firm’s ratings accreditation, according to the regulatory filing.

To contact the reporter on this story: Matt Robinson in New York at mrobinson55@bloomberg.net

To contact the editors responsible for this story: Shannon D. Harrington at sharrington6@bloomberg.net Caroline Salas Gage, John Parry


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Companies Mentioned

  • MHFI
    (McGraw Hill Financial Inc)
    • $81.6 USD
    • 1.32
    • 1.62%
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