NEW YORK - Moody's Investors Service said it has upgraded Prairie Lakes Health Care System, S.D.'s (Prairie Lakes) bond rating to A3 from Baa1. The rating applies to $23.8 million of outstanding rated debt issued through the South Dakota Health & Educational Facilities Authority.
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The rating upgrade is attributable to a history of very strong financial performance, solid debt coverage and liquidity measures, and our expectation Prairie Lakes will leverage its dominant local market position and continue to produce elevated operating cash flow to sustain favorable balance sheet metrics to offset risks associated with its small size and dependence on a small medical staff.
