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McGraw Hill founded Business Week magazine in 1929. In 2009, McGraw Hill Cos. sold Business Week to Bloomberg L.P. In 1964, after Hill died, both McGraw–Hill Publishing Company and McGraw–Hill Book Company merged into McGraw–Hill, Inc. McGraw–Hill purchased credit rating agency Standard & Poor's from Paul Talbot
In 1941, Paul Talbot Babson purchased Poor's Publishing and merged it with Standard Statistics to become Standard & Poor's Corp. In 1966, the company was acquired by The McGraw-Hill Companies , extending McGraw-Hill into the field of financial information services.
The Global Industry Classification Standard (GICS) is an industry taxonomy developed in 1999 by MSCI and Standard & Poor's (S&P) for use by the global financial community. The GICS structure consists of 11 sectors, 25 industry groups, 74 industries and 163 sub-industries [1] into which S&P has categorized all major public companies.
The Standard & Poor's rating scale uses uppercase letters and pluses and minuses. [13] The Moody's rating system uses numbers and lowercase letters as well as uppercase. While Moody's, S&P and Fitch Ratings control approximately 95% of the credit ratings business, [ 14 ] they are not the only rating agencies.
Of the two biggest agencies Moody's became a public firm in 2001, while Standard & Poor's is part of the publicly traded McGraw-Hill Companies. One study of "6,500 structured debt ratings" produced by Standard & Poor's, Moody's and Fitch, found ratings by agencies "biased in favour of issuer clients that provide the agencies with more rating ...
In 2016, when McGraw-Hill changed its name to S&P Global, the Platts division was renamed S&P Global Platts. Platts' first significant acquisition came in 2001, when it acquired FT Energy. [ 7 ] That acquisition gave it the Platts Global Energy Awards, considered one of the industry's biggest awards event, held every December in New York.
Douglas L. Peterson is the former president and chief executive officer of S&P Global [1] (NYSE: SPGI), [2] formerly McGraw Hill Financial. He became president and chief executive officer in November 2013. Peterson has served on S&P Global’s Board of Directors since July 2013.
In the Indian subcontinent, three out of the six registered credit rating agencies are subsidiaries of the big three – including CRISIL (Standard and Poors), ICRA Limited and India Ratings (Fitch). However, there are three other agencies – including CareEdge Ratings , which is the second largest rating agency in India.