Moody's may lower Kinetics

Moody's Investors Service said it placed the ratings of The Kinetics Group Inc. under review for possible downgrade.

Moody's said the action reflects increased concern surrounding the company's deteriorated financial condition and material uncertainty regarding its attempts to complete a comprehensive capital restructuring.

The ratings being placed on review consist of the following: the B3 rating on The Kinetics Group Inc. $55 million guaranteed senior secured revolving credit facility due 2006; the B3 rating on The Kinetics Group Inc. $17 million guaranteed senior secured term loan facility due 2006, the B3 senior implied rating, and the Caa1 senior unsecured issuer rating.

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