Moody's Investors Service last week affirmed Central College's low investment-grade underlying rating of Baa3 as it warned that a downgrade could loom due to challenges tied to thin liquidity coverage of its floating-rate debt.

The rating agency's decision to shift its outlook to negative from stable on the underlying credit affects $23.5 million of debt issued through the Iowa Finance Authority in 2008.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.