July 23 (Reuters) - McGraw Hill Financial Inc said its Standard & Poor’s rating unit may face civil charges by U.S. securities regulators over rating of six commercial mortgage-backed securities transactions in 2011.
McGraw Hill said it received a “Wells Notice” from the U.S. Securities and Exchange Commission, alleging violations of federal securities laws by Standard & Poor’s related to the ratings.
A Wells notice is usually the last step in an SEC investigation before a civil enforcement action is filed, and gives a recipient one last chance to convince regulators not to file a lawsuit.
S&P has been cooperating with the SEC, McGraw Hill said.
McGraw Hill shares closed at $83.11 on the New York Stock Exchange on Wednesday. (Reporting By Neha Dimri in Bangalore; Editing by Sriraj Kalluvila)