The rating review follows a similar downgrade warning on Friday for the entertainment giant from Standard & Poor's.

On Thursday, Disney said third-quarter net profit fell by nearly one-third from a year ago to $364 million, or 18 cents per share, on revenue of $5.8 billion. It also warned that fourth-quarter profit may drop because of falling tourism.

Moody's said it may cut Disney's "A3" long-term debt rating, its fourth lowest investment grade, and the "A2" ratings of its Disney Enterprises and ABC Inc. units. Moody's affirmed Disney's "P-2" short-term rating, suggesting any long-term rating cut would not exceed two notches.

Moody's expressed concern over Disney's theme park operations, which include Disneyland in California and Walt Disney World in Florida. It also said it has ongoing concerns about the company's $15 billion debt load and viewership and advertising levels at the ABC networks.

"Moody's remains concerned that given ABC's lagging audience share it may experience greater negative volatility should a 'double dip' advertising recession take hold," it said.

Waning consumer confidence and geopolitical risks will "challenge" Disney to keep its current long-term ratings, Moody's said. Disney is based in Burbank, California.

S&P rates Disney's long- and short-term debt "A-minus" and "A-2," equal to Moody's ratings. It said any long-term rating downgrade would likely not exceed one notch. Downgrades often boost borrowing costs.

Disney shares closed on the New York Stock Exchange at $14.27, down $1.04, or 6.79 percent. They have fallen 47 percent in the last year.