CHICAGO – Moody’s Investors Service assigned a negative outlook to the Catholic Archdiocese of Chicago’s A1 rating due to operating losses and other fiscal pressures that range from a spike last year in sexual misconduct settlements to uncollectible local parish loans and rising cemetery maintenance liabilities. 

Moody’s affirmed the rating and revised the outlook from stable Tuesday as the archdiocese -- through the Catholic Bishop of Chicago -- may privately place up to $65 million of senior unsecured notes with a closing date next month. Moody’s first assigned a public rating to the CBC last year ahead of a private placement. The CBC would have about $150 million of rated debt after the transaction.

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