Moody's Investors Service has downgraded Iraan (Texas) General Hospital District's rating to "Baa3" from "A2."
The downgrade is based on a number of factors, including the district's small hospital size and moderate debt burden.
Moody's has assigned a negative outlook, reflecting the lack of Medicaid expansion in the state as well as the district's susceptibility to depressed oil prices, which will likely continue to pressure the local economy.