China's debt ratings have been raised one level by Fitch Ratings because of surging foreign-exchange reserves and fewer bad loans at banks, Bloomberg reported. The country's long-term foreign currency rating was raised to A, the sixth-highest grade, from A minus, putting it on a par with Chile, Greece and South Korea. Fitch also lifted China's long-term local currency rating to A plus from A. China's foreign-exchange reserves rose 50 percent at the end of September from a year earlier, to a record US$769 billion. Fitch expects the reserves to top US$1 trillion in 2007, as China overtakes Japan as the world's largest holder of foreign-currency assets.