Action Alert!
Catholic Culture Overview
Catholic Culture Overview
Catholic World News

Archdiocese of Chicago’s bond rating slashed

May 27, 2020

» Continue to this story on Bond Buyer

CWN Editor's Note: The 3-notch downgrade from A1 to Baa1 “reflects the escalation of core social and business risks for a particular sector that has seen a substantial and now recently increasing trend of preemptive bankruptcy,” according to the report. “The rapid and widening spread of the coronavirus outbreak and deteriorating global economic outlook are creating a severe and extensive credit shock.”

The above note supplements, highlights, or corrects details in the original source (link above). About CWN news coverage.

 


For all current news, visit our News home page.


Sound Off! CatholicCulture.org supporters weigh in.

All comments are moderated. To lighten our editing burden, only current donors are allowed to Sound Off. If you are a current donor, log in to see the comment form; otherwise please support our work, and Sound Off!

Show 1 Comments? (Hidden)Hide Comments
  • Posted by: Randal Mandock - May. 27, 2020 11:46 AM ET USA

    Is the Archdiocese of Chicago a business, like any other secular money-making enterprise? According to Moody's bond credit ratings, "Baa1" lies near the bottom of investment-grade bonds, just 3 steps above "junk" bond rating. Is this the Church's future? How the mighty are falling all around us. Pope Francis warned today: "Mission...is not the fruit of the application of 'secular notions of activism or technical-professional competence.'" So which is it for U.S. dioceses: mission or business?