Moody’s Assigns A1 Initial Rating to Catholic Bishop of Chicago’s Private Placement

Reuters – January 26, 2012

Jan 26 (Reuters) – Moody’s Investors Service has assigned an A1 initial rating to The Catholic Bishop of Chicago’s (IL) proposed private placement under exemption of 4(2) of Rule 144A of $151.5 million of Senior Unsecured Notes, Series 2012 to a limited number of qualified institutional buyers and accredited investors.

Although the issuer and obligor will be The Catholic Bishop of Chicago (CBC), the CBC will look to its Designated Group comprised of the Archdiocese of Chicago Pastoral Center (Pastoral Center) and Catholic Cemeteries (Cemeteries) for primary source of repayment, but can access other funds as available to meet debt service on the notes. The rating outlook is stable.