Also. . .

Moody’s Investors Service said it would review South Korea’s foreign currency credit ratings for possible upgrade, prompted by improved foreign exchange reserves and stabilizing financial markets. The review will focus on whether South Korea, still reeling from recession, can withstand potential domestic and external pressures on its creditworthiness, Moody’s said. To be reviewed are the Ba1 long-term foreign currency credit rating for bonds and notes and the Caa1 rating for foreign currency bank deposits, Moody’s said. South Korea’s usable foreign exchange reserves have surged to $48.8 billion from $8.9 billion a year ago.

*

* Hilton Hotels Corp. said gambling regulators in Nevada, New Jersey, Mississippi and Queensland, Australia, had approved a plan to split its hotel and casino operations into separate companies Dec. 31. The gambling operations will be grouped into a new company, Park Place Entertainment Corp., which would then purchase the Mississippi operations of Grand Casinos Inc.

*

* Atlantic Richfield Co. said it will trim capital spending by 25% to $2.7 billion during 1999 as part of its cost-cutting plan forced by low crude oil prices. The company said it will focus spending on its most promising oil and gas prospects in Alaska, the North Sea and Venezuela.

*

* Avant Corp.’s president and chief executive, Gerald Hsu, and seven other individuals were indicted on charges of stealing trade secrets from rival Cadence Design Systems Inc. Avant called the charges returned by the grand jury in Santa Clara County, Calif., “rehashed allegations.”