LNG

Feb 11 (LNGJ) - The LNG and energy engineer, Saipem of Italy, said it was placed under review by US ratings agency Moody's for a possible credit downgrade from its current "Baa3". The decision by Moody's follows a similar review by the other US raings agency Standard & Poor's. Both are substantially based on "the recent weakening of industry fundamentals and the consequent increase in the risk of project cancellations and or delays and reduced capital spending by oil and gas companies," Saipem said.