News
McGraw Hill Stabilizes After SEC's CMBS Sanction
McGraw Hill shares held steady in morning trading today after dropping up to 4.3% on Monday. Those losses followed news that the SEC sought to suspend MH subsidiary Standard & Poor's from rating commercial mortgage bonds. The SEC is investigating whether the major credit grader fudged criteria back in 2011 to win business. If the suspension succeeds it would be the first such action against one of the marquee credit raters, which watchdog groups say played a part in the 2008 financial crisis by inflating grades on bonds that subsequently tanked. MHFI shares closed at $91.81 yesterday. The stock has grown by 17% so far this year.
