February 12, 2015 / 12:22 PM / 3 years ago

S&P owner McGraw Hill reports loss on $1.5 bln legal charge

Feb 12 (Reuters) - McGraw Hill Financial Inc, parent of Standard & Poor’s ratings agency, reported a quarterly loss, hurt by a $1.5 billion charge related to legal and regulatory settlements.

Loss from continuing operations was $1 billion, or $3.71 per share, for the fourth quarter ended Dec. 31, compared with an income of $165 million, or 60 cents per share, a year earlier.

S&P said last week it would pay $1.5 billion to resolve a collection of lawsuits over its ratings on mortgage securities that soured in the run-up to the 2008 financial crisis. (Reporting by Neha Dimri in Bengaluru; Editing by Sriraj Kalluvila)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below