Yet some analysts ask whether I.B.M. has been overly aggressive in pursuing rapid growth for its credit subsidiary.

The lending test would evaluate direct lending as well as indirect lending through participation in loan pools or credit subsidiaries.

After the announcement, Fitch Investors Service, a small rating agency, said it might downgrade its ratings for debt issued by Westinghouse and its credit subsidiary.

In November 1992, it acquired the Eastman Kodak Company's credit subsidiary, which financed copiers and equipment used to make electronic images of written documents.

The credit subsidiary was very profitable, but Robert T. Hamilton, vice-president at Eastman Kodak, said it could not match GE's financial strength and flexibility.

"These people rebuilt this company from the ground up and that gives them a sense of ownership," said Irving H. Rothman, the credit subsidiary's president.

His father is the vice president of administration in Norwalk, Conn., for the credit subsidiary of the Pitney Bowes Corporation, the office machine manufacturer.

Companies Continue to Come Nevertheless, companies like the Ford Motor Company's credit subsidiary continue to arrive.

The credit subsidiary, which is part of Westinghouse's financial-services operation, is one of the nation's largest such operations.

The credit subsidiary has more than $6 billion in debt.