McGraw Hill Falls Most in Three Months Following Wells NoticeMatt Robinson
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.