Morrison Knudsen’s Debt Rating Lowered

Morrison Knudsen Corp.’s debt rating sank to junk status Thursday after the once-prominent construction firm said it would likely report a $141 million loss for the fourth quarter.

Standard & Poor’s said that it was downgrading the company’s senior debt to double-B-plus.

The downgrade was the second since the company scrapped its shareholder dividend and said it might sell some operations to help become profitable again.