ATLANTA -- Citing the worsening financial performance of the Cape Coral (Fla.) Medical Center, Moody's Investors Service downgraded the facility's uninsured debt to Caa from B1.

The ratings change affects $88.4 million of bonds issued in 1989 and 1991 by the Cape Coral Health Facilities Authority. The downgrade does not cover the Aaa rating on the authority's $42 million of series 1987 debt, which is insured by AMBAC Indemnity Corp.

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