Moody's eyes Motorola's debt

SCHAUMBURG -- Motorola Inc. may have its debt rating cut by Moody's Investors Service, spurred by delays in the company's turnaround plan. The rating service placed Motorola on review for a possible downgrade, according to a statement Thursday. Moody's said it was prompted by Motorola's lower first-quarter forecast and a slower-than- expected rebound for its phone business. Moody's has a BAA1 rating, three levels above non-investment grade, on $4.3 billion of Motorola debt. Earlier Thursday, Fitch ratings cut Motorola's debt rating to BBB, two levels above non-investment grade, from BBB+.