McGraw Hill, Inc. (MH) Receives a Buy from William BlairWe were encouraged to see this announcement, which in our mind signals management’s confidence in the business and its continued execution on the priorities it laid out during its IPO process. In combination with the September repricing of its term loan (reduced the base interest rate by 50 basis points), this transaction could drive close to $40 million in annual cash interest savings for McGraw Hill (a 14% reduction relative to total interest expense of $293 million in fiscal 2025). While the company’s debt load remains significant, we view these moves positively as the company works to reduce its overall debt burden, and clearly signals that debt paydown remains the top priority for capital allocation. We are not updating our estimates at this time, and as a reminder, McGraw is scheduled to report fiscal second-quarter earnings on Wednesday, November 12.