Moody’s is reviewing Fluor Corp.’s bond rating.

The New York-based investment service said it may downgrade the Irvine-based engineering and construction company’s rating from A-3 due to “depressed conditions” in the company’s mining and process plant businesses, poor earnings and “low interest coverage.” At the end of the first quarter, Fluor’s long-term debt was $776.6 million. Fluor officials said the company, which reported net income of $1 million on revenue of $4.4 billion, is in “excellent financial condition.” A Fluor spokesman said the company has been selling its real estate and other fixed assets and using the proceeds to reduce debt.