McGraw-Hill Companies (NYSE: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 (NYSE: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.