Moody's Investors Service has downgraded the rating to "MIG 3" from "MIG 2" on Angola, Ind.-based Cameron Memorial Community Hospital's series 2013A bond anticipation notes, affecting $37 million of outstanding debt.
The downgrade is based on several factors, including significant delays in completing a project, and minimal time between estimated project completion and maturity of the bond anticipation notes.
The rating does not carry an outlook.