Moody's cuts Great River to Baa1

Moody's Investors Service said it downgraded Great River Energy's senior secured debt rating to Baa1 from A3.

The outlook is now stable.

"The rating action reflects degradation in Great River's overall credit profile given weakness in key financial metrics in recent years, which is due to sizable debt financed capital spending and a prevailing trend of reduced margins from non-member sales that had previously benefited financial results," Moody's vice president and senior analyst Kevin Rose said in a news release.

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