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McGraw-Hill Makes Name Change Official

McGraw-Hill, McGraw-Hill Company

 (REUTERS)

McGraw-Hill Companies (MHP) announced Wednesday its shareholders approved the company’s name change to McGraw Hill Financial.

The company said its new name more closely identifies with McGraw Hill’s credit ratings business, Standard & Poor’s. McGraw Hill is also the parent company of J.D. Power & Associates.

McGraw Hill’s stock symbol will switch to MHFI on May 14.

Last year, the company sold its education business to private equity firm Apollo Global Management (APO) for $2.4 billion, as it focuses on its financial assets. S&P has been McGraw Hill’s largest top-line contributor, posting 20% revenue growth in the latest period.

Shares were up a penny at $54.12 in early afternoon trading.

Follow Matthew Rocco on Twitter @MatthewRocco