Tags: BBCHTO | BGOVBILLGO | BGOVCODES | BGVTTOP | BIZNEWS | BNALL | BNCOPY

McGraw Hill Falls Most in Three Months Following Wells Notice

Thursday, 24 July 2014 10:55 AM EDT

July 24 (Bloomberg) -- McGraw Hill Financial Inc 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

© Copyright 2024 Bloomberg News. All rights reserved.


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McGraw Hill Falls Most in Three Months Following Wells Notice
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Thursday, 24 July 2014 10:55 AM
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