Moody's could cut Great River

Moody's Investors Service said it placed Great River Energy's A3 senior secured debt rating under review for possible downgrade.

Moody's said the review takes into account its view that Great River's credit profile has been challenged in recent periods by sizable debt-financed capital spending and a prevailing trend of reduced margins from non-member sales that previously had benefited financial results.

"Great River's cash flows have not sufficiently kept pace with the incremental debt incurred by the organization, contributing to persistent weakness in key financial metrics in recent years," vice president-senior analyst Kevin Rose said in a news release.

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