McGraw Hill Financial, owner of credit rating agency Standard & Poor's, posted an 18 percent rise in quarterly profit as it earned more from a surge in corporate debt issuances and its Dow Jones indices.
The company, which is fighting a $5 billion fraud lawsuit lodged by the U.S. government, increased its 2013 profit forecast and said it expected global debt issuance to remain robust.
Rival Moody's reported on Wednesday a 31 percent jump in profit as companies issued more bonds.
Earlier this month, a federal judge denied the company's request to dismiss the lawsuit allowing the government to pursue claims that S&P manipulated ratings to boost profit, and in doing so, concealed credit risks and conflicts of interest.
McGraw-Hill shares traded higher following the report. (Click here for the latest before-hours quote.)
(Read more: Biggest movers on earnings)