SHANGHAI, Nov. 12 /PRNewswire-FirstCall/ -- The McGraw-Hill Companies (NYSE: MHP), a global leader in financial services, education, and business information, today announced that Standard & Poor’s (S&P) is planning to establish a Greater China headquarters in Shanghai, underscoring the company’s commitment to supporting China’s growing capital markets, as well as Shanghai’s emergence as a leading global financial center. The company also plans to expand its existing teams in Hong Kong and Beijing to meet the growing needs of financial market participants in both internationally significant cities.

"As China’s largest city and one of the world’s leading financial centers, Shanghai has come to epitomize the country’s exceptional growth and leadership position in the international economic community," said Harold McGraw III, chairman, president and chief executive officer of The McGraw-Hill Companies. "Shanghai is establishing itself as a global center for capital and commerce, and we are excited about the new opportunities Standard & Poor’s will have to help China continue to expand and strengthen its growing financial markets."

To support the needs of its growing and increasingly diverse customer base in China, the initial plans for S&P’s Shanghai operations include:

• becoming an analytical hub for S&P’s credit ratings business in Greater China,
• establishing dedicated teams to provide financial risk management solutions to both the private and public sectors,
• establishing a strong local sales and customer service organization to work more closely with its clients in mainland China, and
• creating strong corporate functions, such as marketing, finance and human resources, to support the company’s business operations throughout the country.
  

Looking ahead, S&P also will look to draw on China’s rich talent base to provide data and analytical support for S&P’s businesses worldwide. Shanghai offers attractive outsourcing capabilities with a growing pool of multilingual financial professionals that can help S&P grow its regional and global businesses.

"As China’s influence on the world economy begins to move beyond manufacturing to include financial flows and investments, with Shanghai at the forefront, we believe it is the right time to expand Standard & Poor’s footprint in China," said Ping Chew, head of Standard & Poor’s Greater China operations. "By using Shanghai as our Greater China hub and expanding our resources in both Beijing and Hong Kong, we are strengthening our ability to help China achieve its goals for economic expansion and financial market development."

Standard & Poor’s has been doing business in China for more than 16 years - first issuing a sovereign credit rating on the People’s Republic of China in February 1992. Today, S&P provides credit ratings on industrial, banking and insurance companies in China, and recently signed a technical services agreement with local credit rating agency, Shanghai Brilliance, to share mutual knowledge and experience. Applying its deep credit management and public sector experience, S&P is also working with the World Bank to conduct financial management assessments (FMAs) and perform credit analysis on urban development and provincial investment groups in China to support public sector reform and fund raising.

In addition to its ratings business, S&P has been actively providing data, information and risk management tools to support the growth of China’s domestic financial markets. In 2004, S&P entered the domestic capital markets with the launch of local equity indices. In conjunction with our partner CITIC Securities, S&P launched a series of leading stock market indices including the S&P/CITIC 50, the S&P/CITIC 300, and the S&P/CITIC China 30 to enable investors to better access China’s rapid growth.

In 2007, S&P Risk Solutions expanded its presence in China to support top-tier Chinese banks develop risk management practices in preparation for Basel II requirements. Today, S&P Risk Solutions works with a range of financial institutions in China including smaller regional banks to help them better manage their risks as they prepare for domestic loan growth in line with the country’s fast-growing economic plans.

About Standard & Poor’s:

Standard & Poor’s, a subsidiary of The McGraw-Hill Companies, is the world’s foremost provider of independent credit ratings, indices, risk evaluation, investment research and data. With offices in 23 countries and markets, Standard & Poor’s is an essential part of the world’s financial infrastructure and has played a leading role for nearly 150 years in providing investors with the independent benchmarks they need to feel more confident about their investment and financial decisions. For more information, visit http://www.standardandpoors.com.

About The McGraw-Hill Companies:

Founded in 1888, The McGraw-Hill Companies is a leading global information services provider meeting worldwide needs in the financial services, education and business information markets through leading brands such as Standard & Poor’s, McGraw-Hill Education, Platts, Capital IQ, J.D. Power and Associates, McGraw-Hill Construction and Aviation Week. The Corporation has more than 280 offices in 40 countries. Sales in 2008 were $6.4 billion. Additional information is available at www.mcgraw-hill.com.

Investor Relations: http://www.mcgraw-hill.com/investor_relations

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Release issued: November 12, 2009

SOURCE The McGraw-Hill Companies