McGraw Hill Financial Names Peterson President/CEO
McGraw Hill Financial said its board of directors has elected Douglas Peterson president and chief executive officer, effective November 1, 2013.
McGraw Hill Financial said its board of directors has elected Douglas Peterson president and chief executive officer, effective November 1, 2013.
Reuters reported that the immediate impact to the stock valuations of credit ratings agencies from the U.S. government’s $5 billion civil fraud suit against Standard & Poor’s appears to be wearing off.
Bloomberg reported that U.S. prosecutors are seeking more than five years’ worth of McGraw-Hill’s profit as punishment for its S&P unit’s inflated grades that contributed to the worst financial crisis since the Great Depression.
Bloomberg reported that McGraw-Hill and its S&P unit were sued by the U.S. over claims S&P knowingly understated the credit risks of bonds and derivatives that were central to the worst financial crisis since the Great Depression.