IBCA, which has only a small presence in America, is following a similar path.

ECONOMIST: Financiers

IBCA. Since then, he has encouraged the two firms to expand their range of services and to grow internationally.

ECONOMIST: Financiers

"Asset quality is deteriorating to an extraordinary extent, " says Marshall of Fitch IBCA. The number of bad loans is beginning to reach frightening heights.

CNN: Page 2

IBCA, a credit-rating agency, the average return on equity earned by the world's 500 biggest commercial banks has climbed above 10% only once, in 1993.

ECONOMIST: It��s got to fit somehow

IBCA-Fitch to compete against such financial firepower will not be easy.

ECONOMIST: Financiers