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  "documentTitle": "The McGraw-Hill Companies (MHP)",
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  "presentationDate": "2011-08-22 00:00:00",
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      "text": "MH Financial's lack of clear fit with S&P Ratings and its own complex asset mix obfuscate its value and in particular conceal the value of the S&P Index business.",
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      "text": "Regulation: S&P Ratings is subjected to considerable regulatory oversight\nM&A / Growth: MH Financial is a diverse collection of businesses with variable growth and profitability characteristics\nCapital Structure: S&P Ratings limits overall company leverage",
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      "text": "S&P Index business is well positioned to realize value as a standalone business\nRatings Direct is a more natural fit with the S&P Ratings business\nCapital IQ performance masked by disclosure",
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      "text": "\"McGraw-Hill Financial is a completely different business than S&P\" — CEO Harold McGraw III",
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      "text": "(1) Per commentary of CEO Harold McGraw III on Q2 2011 MHP earnings call Q&A.",
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      "text": "MH Financial: Overshadowed by S&P Ratings And Overly Complex",
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