Fitch Ratings, a majority-owned subsidiary of Fimalac SA, provides credit markets worldwide with ratings information. The firm, founded as Fitch Publishing Company in 1913, offers clients financial strength ratings on over 1,600 banks and 1,400 insurance companies. It also provides customers with information on finance and leasing companies and brokers. The firm monitors thousands of structured finance transactions worldwide. The Fitch Ratings Corporates Group covers the securities of over 1,000 companies across the aerospace, chemicals, consumer products, energy, health care, industrial, hospitality, media, automotive, telecommunications, retail, and mining sectors. The Fitch Ratings Global Power Group tracks utility and energy companies worldwide. The Fitch Ratings Project Finance Group evaluates project finance transactions. The company also encompasses bank, finance and leasing, insurance, and securities sector analysis groups. Fitch Ratings, under the Fitch Publishing Company name, introduced the AAA through D ratings scale in 1924. The company merged with IBCA Limited in 1997. The merger provided Fimalac with ownership of the firm. Fitch Ratings acquired Duff & Phelps Credit Rating Company and Thomson BankWatch in 2000. Fitch Ratings maintains offices in New York and London. It has 49 additional offices across 90 countries. Parent company Fimalac is based in Paris.