Moody's Investors Service has assigned an "A2" rating to St. Cloud, Minn.-based CentraCare Health System's proposed revenue bonds and downgraded its existing bonds from "A1" to A2," affecting $247 million of outstanding debt.
The downgrade reflects Moody's expectation that the system will continue to operate with higher financial leverage and lower relative liquidity as it executes growth strategies in western Minnesota.
The rating outlook has been revised from negative to stable.