Malaysia Credit Ratings & Outlooks

Country	Moody's	S&P	Fitch	DBRS	Scope Ratings
Malaysia	A3 Stable	A- Stable	BBB+ Stable	NR —	NR —

Credit Rating History

Country	Date of Change	Rating Agency	Previous Rating	Previous Outlook	Current Rating	Current Outlook
Malaysia	Jun 27, 2022	S&P	A-	Negative	A-	Stable
Malaysia	Dec 04, 2020	Fitch	A-	Negative	BBB+	Stable
Malaysia	Jun 27, 2020	S&P	A-	Stable	A-	Negative
Malaysia	Apr 09, 2020	Fitch	A-	Stable	A-	Negative
Malaysia	Jan 11, 2016	Moody's	A3	Positive	A3	Stable
Malaysia	Jun 30, 2015	Fitch	A-	Negative	A-	Stable
Malaysia	Nov 20, 2013	Moody's	A3	Stable	A3	Positive
Malaysia	Jul 30, 2013	Fitch	A-	Stable	A-	Negative
Malaysia	Nov 09, 2008	Fitch	A-	Positive	A-	Stable
Malaysia	May 15, 2008	S&P	A-	Positive	A-	Stable
Malaysia	Jan 22, 2008	Fitch	A-	Stable	A-	Positive
Malaysia	Jul 31, 2007	S&P	A-	Stable	A-	Positive
Malaysia	Dec 16, 2004	Moody's	Baa1	Positive Watch	A3	Stable
Malaysia	Nov 08, 2004	Fitch	BBB+	Positive	A-	Stable
Malaysia	Sep 29, 2004	Moody's	Baa1	Positive	Baa1	Positive Watch
Malaysia	Apr 06, 2004	Fitch	BBB+	Stable	BBB+	Positive
Malaysia	Feb 05, 2004	Moody's	Baa1	Stable	Baa1	Positive
Malaysia	Oct 07, 2003	S&P	BBB+	Stable	A-	Stable
Malaysia	Sep 24, 2002	Moody's	Baa2	Positive Watch	Baa1	Stable
Malaysia	Aug 19, 2002	S&P	BBB	Positive	BBB+	Stable

Table Key

Grade	Moody's	S&P	Fitch	DBRS	Scope Ratings
Prime	Aaa	AAA	AAA	AAA	AAA
High Grade	Aa1	AA+	AA+	AA (high)	AA+
	Aa2	AA	AA	AA	AA
	Aa3	AA-	AA-	AA (low)	AA-
Upper Medium Grade	A1	A+	A+	A (high)	A+
	A2	A	A	A	A
	A3	A-	A-	A (low)	A-
Lower Medium Grade	Baa1	BBB+	BBB+	BBB (high)	BBB+
	Baa2	BBB	BBB	BBB	BBB
	Baa3	BBB-	BBB-	BBB (low)	BBB-
Non-investment Grade Speculative	Ba1	BB+	BB+	BB (high)	BB+
	Ba2	BB	BB	BB	BB
	Ba3	BB-	BB-	BB (low)	BB-
Highly Speculative Grade	B1	B+	B+	B (high)	B+
	B2	B	B	B	B
	B3	B-	B-	B (low)	B-
Substantial Risk Grade	Caa1	CCC+	CCC+	CCC
	Caa2	CCC	CCC	CCC	CCC
	Caa3	CCC-	CCC-	CCC
Extremely Speculative Grade	Ca	CC	CC	CC	CC
Extremely Speculative Grade			C	CC	C
In Default with Little Prospect for Recovery		CD	RD	RD
In Default		SD		SD
	C	D	D	D	D
			DD	DD
			DDD	DDD
Not Rated	NR	NR	NR	NR	NR

FAQ

What is Malaysia’s current credit rating?

Malaysia’s sovereign credit rating reflects its government’s ability and willingness to meet debt obligations. It is assigned by major agencies such as S&P, Moody’s, Fitch, DBRS, and Scope, and represents how international markets view Malaysia’s credit risk.

Has Malaysia’s credit rating changed recently?

This page lists the latest rating and outlook actions for Malaysia, showing when each agency last reviewed or changed its assessment.

Why does Malaysia’s credit rating matter to investors?

Ratings directly affect borrowing costs, investor confidence, and market access. Changes can influence Malaysia's bond yields, currency, and equity flows as investors reassess risk.

How does Malaysia’s rating compare to other countries?

You can explore how Malaysia ranks globally using our Credit Ratings Hub, which displays all countries’ ratings from S&P, Moody’s, Fitch, DBRS, and Scope.

What do outlooks like Positive, Stable, and Negative mean?

They indicate the expected direction of a rating. Positive signals a possible upgrade, Stable means no change is likely, and Negative points to potential downgrade risk

What is the difference between investment grade and speculative grade?

Investment grade (BBB−/Baa3 or higher) means relatively low risk and steady market access. A speculative grade (BB+/Ba1 or lower) signals higher risk and volatility, but can attract yield-seeking investors.