EXECUTION VERSION

FIRST AMENDMENT
FIRST AMENDMENT, dated as of January 11, 2012 (this “Amendment”), to the
Three-Year Credit Agreement, dated as of July 30, 2010 (the “Credit Agreement”),
among THE McGRAW-HILL COMPANIES, INC. ( the “Borrower”), STANDARD & POOR’S
FINANCIAL SERVICES LLC, as a Loan Guarantor (the “Loan Guarantor”), the lenders
from time to time parties thereto (the “Lenders”), the Syndication Agent and the
Documentation Agents parties thereto and JPMORGAN CHASE BANK, N.A., as
administrative agent (the “Administrative Agent”).
W I T N E S S E T H:
WHEREAS, the Borrower, the Loan Guarantor, the Lenders and the Administrative
Agent are parties to the Credit Agreement;
WHEREAS, the Borrower, CME Group Inc. (“CMEG”) and CME Group Index Services LLC
(“CGIS”) have entered into that certain Contribution Agreement, dated as of
November 4, 2011 (the “Contribution Agreement”), pursuant to which the Borrower
will cause the Loan Guarantor to contribute its S&P index business and CGIS will
contribute its Dow Jones index business into a newly formed joint venture entity
(the “Index Joint Venture”);
WHEREAS, pursuant to the MH Brand License (as defined in the Contribution
Agreement), the Loan Guarantor will license the MH Licensed Trademarks (as
defined in the MH Brand License Agreement) to the Index Joint Venture;
WHEREAS, in connection with the MH Brand License, the Loan Guarantor will grant
a Lien on the MH Licensed Trademarks to secure its obligations under the MH
Brand License Agreement;
WHEREAS, in connection with the granting of the Lien the Borrower has requested
certain amendments to the Credit Agreement as more fully set forth herein; and
WHEREAS, the Administrative Agent and the Lenders are willing to agree to such
amendments but only on the terms and conditions contained in this Amendment.
NOW THEREFORE, in consideration of the premises and the mutual covenants
hereinafter set forth, the parties hereto agree as follows:
1.Defined Terms. Unless otherwise defined herein, capitalized terms used herein
which are defined in the Credit Agreement (as amended by this Amendment) are
used herein as therein defined.
2.    Amendments to Section 1.01 (Defined Terms). (a) Section 1.01 of the Credit
Agreement is hereby amended by inserting the following definitions in
appropriate alphabetical order:
“Index Joint Venture” means the joint venture among the Borrower, CME Group Inc.
and CME Group Index Services LLC pursuant to that certain Contribution
Agreement, dated as of November 4, 2011.”
“MH Brand License Agreement” has the meaning set forth in the Contribution
Agreement.

    

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“MH Licensed Trademarks” has the meaning set forth in the MH Brand License
Agreement.
“Trademark Security Agreement” means the Trademark Security Agreement to be
entered into between the Loan Guarantor and the Index Joint Venture upon the
closing of the transaction contemplated in the Contribution Agreement.
(b)    The definition of “Permitted Liens” is hereby amended by (i) deleting the
“and” at the end of clause (f) thereof, (ii) amending the period at the end of
clause (g) thereof to be “; and” and (iii) adding the following new clause (h):
“(h)
Liens in favor of the Index Joint Venture granted pursuant to the Trademark
Security Agreement as in effect on the date thereof to secure the obligations of
the Loan Guarantor under the MH Brand License Agreement.”

3.    Conditions to Effectiveness of this Amendment. This Amendment shall become
effective upon the date (the “First Amendment Effective Date”) upon which this
Amendment shall have been executed and delivered by the Borrower, the
Administrative Agent and the Required Lenders.
4.    Representation and Warranties. To induce the Administrative Agent and the
Lenders to enter into this Amendment, the Borrower hereby represents and
warrants to the Administrative Agent and each Lender that:
(a)    as of the First Amendment Effective Date, and after giving effect to this
Amendment, each of the representations and warranties made by the Borrower in or
pursuant to the Credit Agreement is true and correct in all material respects as
if made on and as of such date (it being understood and agreed that any
representation or warranty that by its terms is made as of a specific date shall
be required to be true and correct in all material respects only as of such
specified date); and
(b)    as of the First Amendment Effective Date, and after giving effect to this
Amendment, no Default or Event of Default has occurred and is continuing.
5.    Effect of Amendment. (a) This Amendment shall not constitute an amendment
or waiver of or consent to any provision of the Credit Agreement not expressly
referred to herein and shall not be construed as an amendment, waiver or consent
to any action on the part of the Borrower or any other Loan Party that would
require an amendment, waiver or consent of the Administrative Agent or the
Lenders except as expressly stated herein. Except as expressly amended hereby,
the provisions of the Credit Agreement are and shall remain in full force and
effect in accordance with its terms.
(b)    On and after the First Amendment Effective Date, each reference in the
Credit Agreement to “this Agreement”, “hereunder”, “hereof”, “herein”, or words
of like import, and each reference to the Credit Agreement in any other document
shall be deemed a reference to the Credit Agreement as amended hereby.
6.    Counterparts. This Amendment may be executed by one or more of the parties
to this Amendment on any number of separate counterparts, and all of said
counterparts taken together shall be deemed to constitute one and the same
instrument. Delivery of an executed counterpart of a signature page by facsimile
or by electronic mail in portable document format (.pdf) shall be effective as
delivery of a manually executed counterpart.

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7.    Severability. Any provision of this Amendment which is prohibited or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective
to the extent of such prohibition or unenforceability without invalidating the
remaining provisions hereof, and any such prohibition or unenforceability in any
jurisdiction shall not invalidate or render unenforceable such provision in any
other jurisdiction.
8.    Integration. This Amendment represent the agreement of the Loan Parties,
the Administrative Agent and the Lenders with respect to the subject matter
hereof and thereof, and there are no promises, undertakings, representations or
warranties by the Administrative Agent or any Lender relative to the subject
matter hereof or thereof not expressly set forth or referred to herein or in the
Credit Agreement.
9.    GOVERNING LAW. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE
PARTIES UNDER THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED
IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.
[The remainder of this page is intentionally left blank.]

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly
executed and delivered by their proper and duly authorized officers as of the
day and year first above written.

THE McGRAW-HILL COMPANIES, INC.

By: /s/ Elizabeth O’Melia

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Name: Elizabeth O’Melia
Title: Treasurer

[Signature Page to First Amendment]

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JPMORGAN CHASE BANK, N.A.,
as Administrative Agent and as a Lender

By: /s/ Goh Siew Tan

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Name: Goh Siew Tan
Title: Vice President

[Signature Page to First Amendment]

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Bank of America, N.A.

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as a Lender

By: /s/ Prayes Majmudar

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Name: Prayes Majmudar
Title: Vice President

[Signature Page to First Amendment]

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The Bank of Nova Scotia

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as a Lender

By: /s/ Brenda Insull

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Name: Brenda Insull
Title: Director

[Signature Page to First Amendment]

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The Bank of Tokyo-Mitsubishi UFJ, Ltd.

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as a Lender

By: /s/ Lillian Kim

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Name: Lillian Kim
Title: Director

[Signature Page to First Amendment]

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Citibank, N.A.
as a Lender

By: /s/ Elizabeth M. Gonzalez

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Name: Elizabeth M. Gonzalez
Title: Managing Director

[Signature Page to First Amendment]

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Deutsch Bank AG New York Branch

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as a Lender

By: /s/ Ming K Chu

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Name: Ming K Chu
Title: Vice President

By: /s/ Wolfgang Winter

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Name: Wolfgang Winter
Title: Managing Director

[Signature Page to First Amendment]

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GOLDMAN SACHS BANK USA
as a Lender

By: /s/ Lauren Day

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Name: Lauren Day
Title: Authorized Signatory

[Signature Page to First Amendment]

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Lloyds TSB Bank, plc,
as a Lender

By: /s/ Julia R Franklin

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Name: Julia R Franklin
Title: Vice President (F014)

By: /s/ Karen Weich

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Name: Karen Weich
Title: Vice President (W011)

[Signature Page to First Amendment]

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Morgan Stanley Bank, N.A., as a Lender

By: /s/ Penny Tsekouras

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Name: Penny Tsekouras
Title: Vice President

[Signature Page to First Amendment]

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The Royal Bank of Scotland plc

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as a Lender

By: /s/ Matthew Pennachio

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Name: Matthew Pennachio
Title: Authorized Signatory

[Signature Page to First Amendment]

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Sovereign Bank

By: /s/ Alister Moreno

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Name: Alister Moreno
Title: Vice President

[Signature Page to First Amendment]

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THE NORTHERN TRUST COMPANY
as a Lender

By: /s/ Daniel J. Boote

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Name: Daniel J. Boote
Title: Senior Vice President

[Signature Page to First Amendment]

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U.S. Bank National Association
as a Lender

By: /s/ Susan Bader

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Name: Susan Bader
Title: Vice President

[Signature Page to First Amendment]

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WELLS FARGO BANK, N.A.
as a Lender

By: /s/ Joe Mynatt

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Name: Joe Mynatt
Title: Managing Director

[Signature Page to First Amendment]