FLUOR CORP <FLR> DEBT DOWNGRADED BY MOODY'S
Moody's Investors Service Inc said it
lowered the ratings on about 390 mln dlrs of Fluor Corp's
long-term debt and commercial paper.
    Moody's 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 debt-protection measures,
although the firm's continuing core businesses have strong
positions within their industries. Ratings cut include those on
senior notes, Eurobonds and pollution control bonds to BA-2
from BAA-3 and commercial paper to not-prime from prime-3.
 Reuter
