Amadeusz Juskowiak

Fluor corp flr debt downgraded by moodys

Moodys Investors Service Inc said it lowered the ratings on about 390 mln dlrs of Fluor Corps longterm debt and commercial paper

Moodys said the action which completes a review begun February 6 reflects expectations that pressure on earnings and cash flow are likely to continue for some time

This will result in stress on debtprotection measures although the firms continuing core businesses have strong positions within their industries Ratings cut include those on senior notes Eurobonds and pollution control bonds to BA2 from BAA3 and commercial paper to notprime from prime3