Fitch: McGraw-Hill unaffected

Fitch Ratings said McGraw-Hill Cos., Inc. is unaffected by lowering its full-year 2008 guidance as a result of economic and market conditions.

With industry bond volumes down well over 50% in certain high margin structured finance product areas, the agency said it had expected the financial services unit to be pressured.

Weakness in the educational unit was unexpected at this stage of the cycle but does not represent a credit issue at this point, the agency noted.

For the latest 12 months ended Sept. 30, gross debt-to-EBITDA ratio is 0.9 times.

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