Fitch Ratings lowered Malaysia's credit rating to BBB+ from A- and revised the outlook to stable from negative on December 4th 2020. The downgrade marks the ratings agency's first for the country since the 1997/98 Asian financial crisis, as the depth and duration of the COVID-19 crisis have weakened several of Malaysia's key credit metrics. Fitch said that measures to contain the domestic spread of the coronavirus, combined with weak investment and low tourism receipts due to the pandemic, have reduced economic activity as it has in many countries globally. Also, lingering political uncertainty following the change in government last March weighs on the policy outlook as well as prospects for further improvement in governance standards. Standard & Poor's credit rating for Malaysia stands at A- with negative outlook. Moody's credit rating for Malaysia was last set at A3 with stable outlook. In general, a credit rating is used by sovereign wealth funds, pension funds and other investors to gauge the credit worthiness of Malaysia thus having a big impact on the country's borrowing costs. This page includes the government debt credit rating for Malaysia as reported by major credit rating agencies.