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It's history it's changing its name.
And the new name is McGraw-Hill financial it was just voted upon in the last couple of minutes.
Across the street for -- box businesses headquarters in midtown Manhattan back as they celebrate a 125 years so what's next for this new McGraw-Hill financial.
And -- -- -- seeing the real growth opportunities and challenges of course we are joined in a Fox Business explicit by chairman and CEO.
Terry McGraw congratulations on the name change in the numbers talk about that -- this is very historic for the company Terry.
Well hi -- doesn't yesterday outside next time and thanks for mentioning a 125.
A year's anniversary that's quite astonishing.
-- in this day and age and we're very proud of that.
This and well as you know -- we have split into two very powerful companies.
Didn't it one is.
McGraw-Hill financial and today's its first day.
And it and the cycle -- McGraw-Hill education.
I'm a -- L education it's gone into a private environment where it will complete its Digital Life transformation and on the Brian -- financial.
-- -- you know we're gonna have very strong top and bottom line growth.
In very good dad free cash -- -- generation.
And -- allow us to do two things in particular allow us to expand our product base both in terms of data content analytics.
But also globally.
What we're seeing in terms of the global capital markets and -- -- capital demand whether it's the infrastructure corporate securities July.
Is allowing for enormous growth forests.
About 40% today of our revenues are coming from outside the United States and they're growing at a much higher numbers so we're very excited about the prospects -- have a right up and it.
While he had it sounds like get them and what you look at for example the numbers -- -- most recently came out with where you beat estimates little light on the revenue but looking at what S&P.
Ratings was able to do it saw double digit percentage growth there to what do you attribute that right now.
After coming true of course that the housing bubble bursting and all the attacks that came -- -- S&P ratings.
Right well first of all in terms of and McGraw-Hill -- finance you know we did 14% top line and 29%.
Growth that GPS level.
Burger through they SMP ratings services.
They were up 20% on the revenue line.
And there's a lot and that was really the structured finance area that we saw him you know it and a lot of that starting to come back which has been action.
And so that was very good to see and hear you're talking about a lot of high yield kind of -- You're talking about cloud -- -- loan obligations -- CLO you're also seeing some of the commercial mortgage backed market showing some strength.
Where we haven't seen it.
And it is in a more traditional areas.
And and so as we start to see more demand for capital coming through the capital markets.
Guide me in -- more traditional corporate securities area.
That will be just added through at this point so we're you know we're very pleased -- that start also the S&P Dow Jones indices did extremely well.
As well as our -- flats business.
Steelers set no where you stand with the investigations -- the accusations by the Department of Justice you know -- with the S&P ratings disaster that was all of the ratings agencies.
You know you have come out swinging in certain regards will you eventually settle overall -- think Terry.
Well I do yeah it's way too early to talent any of that we we -- we've got a very strong case here and you know quite frankly I mean you know it's it's kind of odd.
You know that we had this case now first of all.
Out on Monday April 22 -- filed for a motion for complete dismissal of the entire -- We'll see where that goes right but there's two questions that I have one is why and the second is how.
Didn't it and so the first one is one where it is motivating this to bring a suit and just against standard -- -- me in all of this.
And and the second one on -- how is how can you.
Well I'm sorry Terry and I just jump in here sure it just to be fair can you can you really say you know it's if everybody was guilty for all that that the ratings agencies were guilty that nobody is guilty.
I think wise for a lot of people is simply that a lot of pieces to financial instruments work where this prankster and maybe that's what they feel what's really at the heart of this.
Well I think you know I would I would push back a bit differently in that complaint.
They brought and they targeted 33 CEOs -- debt obligation.
I had -- and that they said that we had them rated artificially higher for commercial gain.
On this -- but those securities that they're talking about her all dual rate.
-- -- and so ourselves and Moody's had the identical ratings you know on the now if you want to push back and say well you've got the housing recession wrong.
That's right you know you know and I regret that.
But from our stamp a lot of people say they have it and said about reserves and US Treasury's -- -- -- -- well so.
So there you know I just want to quickly mentioned before you go that you have just been named as the International Chamber of Commerce chairman congratulations that's gonna be in place July 1 you have served the business community.
Throughout many years in addition to what you have done and that is -- McGraw-Hill now McGraw-Hill financial and of course the education side.
Terry we must run but thank you so much for joining us we've really appreciated help thanks Liz and I -- and good luck out there.
I know it's it's hard to it's hard to need luck when you've got the son John of -- -- thanks very very much David already you are right.
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