World Business Briefing | Asia: Malaysia: Currency Rating Raised

Malaysia's foreign-currency rating was raised one level to A3, the highest since 1998, by Moody's Investors Service, which commended efforts by the government of Prime Minister Abdullah Ahmad Badawi, left, to reduce its budget deficit. The rating is four levels above investment grade and on par with Standard & Poor's and Fitch Ratings' credit ratings for Malaysia. The higher ratings indicate the country is more likely to pay debt fully and on time, and may lower borrowing costs for the government and companies like the state power provider Tenaga Nasional.