CHICAGO — Sanford Health, one of South Dakota’s largest health care providers, hits the market Wednesday with $120 million of new-money bonds to help finance a $1.5 billion capital plan that has made Sanford one of the region’s fastest-growing hospitals.

Standard & Poor’s downgraded the issuer to A-plus from AA-minus ahead of next week’s deal, warning that its ambitious capital plans could strain its balance sheet. Moody’s Investors Service affirmed its A1 rating and stable outlook, but also said future capital plans could pose a challenge.

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