S&P Global Ratings Upgrades McGraw Hill’s Credit Ratings to BB-
Event summary
- S&P Global Ratings upgraded McGraw Hill’s corporate family rating (CFR) to BB- from B+ on September 18, 2026.
- Senior secured notes and senior secured first lien bank credit facility ratings were upgraded to BB from BB-.
- Senior unsecured notes rating was upgraded to B from B-.
- The outlook was changed to stable.
- This follows a similar upgrade from Moody’s Ratings in July 2026.
The big picture
McGraw Hill’s credit rating upgrades from both S&P Global Ratings and Moody’s Ratings reflect its progress in reducing gross debt and positioning itself for sustainable growth. This strategic shift aligns with broader industry trends towards financial stability and long-term investment in education solutions. The upgrades validate the company’s execution and signal its potential to capitalize on future opportunities in the evolving education landscape.
What we're watching
- Debt Reduction
- How McGraw Hill’s continued debt reduction will impact its financial flexibility and investment capabilities.
- Market Position
- Whether the upgraded ratings will enhance McGraw Hill’s competitive positioning in the education solutions market.
- Sustainable Growth
- The pace at which McGraw Hill can sustain growth while maintaining its improved credit ratings.