Cardinal George may sell bonds to support archdiocese

 |  NCR Today

Chicago Cardinal Francis George is considering selling bonds to alleviate archdiocesan shortages.

Last week, Moody's Corporation gave the archdiocese a high A1 rating on a proposed offering of $151.5 million in bond sales. George said he is interested in taking advantage of "historically low interest rates and the good credit-worthiness of the archdiocese." But he insisted no decision has yet been made concerning a sale.

Thus far, according to the Chicago archdiocese, it has incurred a cost of $113.1 million because of sexual abuse claims. George has long pledged that parish contributions will not be used to pay any clergy misconduct awards.

Don't miss a thing! Get NCR's free newsletter.

Read the full story here.

Other dioceses have turned to the bond market to raise funds. In 2005, NCR carried this headline: "Wall Street sees Austin venture as new model for church financing; Dioceses are good fit for bond market, financiers say."

Support independent reporting on important issues.

 One family graphic_2016_250x103.jpg


NCR Comment code: (Comments can be found below)

Before you can post a comment, you must verify your email address at
Comments from unverified email addresses will be deleted.

  • Be respectful. Do not attack the writer. Take on the idea, not the messenger.
  • Don't use obscene, profane or vulgar language.
  • Stay on point. Comments that stray from the original idea will be deleted. NCR reserves the right to close comment threads when discussions are no longer productive.

We are not able to monitor every comment that comes through. If you see something objectionable, please click the "Report abuse" button. Once a comment has been flagged, an NCR staff member will investigate.

For more detailed guidelines, visit our User Guidelines page.

For help on how to post a comment, visit our reference page.

Commenting is available during business hours, Central time, USA. Commenting is not available in the evenings, over weekends and on holidays. More details are available here. Comments are open on NCR's Facebook page.



NCR Email Alerts


In This Issue

July 14-27, 2017