CHICAGO (CBS) — The Chicago Archdiocese is said to be weighing options to improve its financial health.
As WBBM Newsradio’s Bob Conway reports, among the plans reportedly under consideration is the sale of $151.5 million worth of bonds, the Chicago Tribune reported.READ MORE: Oak Park Condo Owners Say Repair Work Has Gone Nowhere After More Than A Year And A Half, Despite Hefty Fees To Contractor
The Tribune reports that on Wednesday night, the Moody’s rating service gave the Archdiocese its highest rating, which the paper says is usually a precursor to a bond issuance.READ MORE: Chicago Weather: Low 20s Monday Night; Arctic Cold Front Coming Wednesday Morning
Church officials say no final decision has been made on the sale, but if it happens, it would be the first time in about a century that such a move was made.
Recently, Francis Cardinal George indicated that ideas were being explored to raise funds to at least partially make up for money spent because of clergy sex abuse, as well as construction costs and parish operations.MORE NEWS: View Live Radar
LISTEN: WBBM Newsradio’s Bob Conway reports