IBCA Ltd., the rapidly expanding rating agency based in London, has obtained the approval of Japan's Ministry of Finance to rate bonds and debt of banks, other financial institutions, and corporations.

"Designation in Japan represents a significant step toward our goal of becoming the only non-U.S. rating agency with an international, rather than purely national, scope," said Robin Monro-Davies, IBCA managing director.

IBCA is best known for its worldwide bank ratings and is moving into corporate credit ratings. It is recognized in Britain, the United States, Spain, France, and Chile.

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