Thomson BankWatch Inc., a New York rating company and affiliate of American Banker, has acquired a minority stake in Central European Rating Agency, or CERA SA. Terms were not disclosed.

CERA was established in November 1996 by 20 Polish financial institutions and is headed by Wojcieh Lipka, a former economic adviser to the Polish Bankers Association. CERA provides ratings on all types of issues and issuers, including banks, corporations, insurance companies, securities firms and government entities.

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