The Roman Catholic Diocese of Oakland received an investment-grade rating of A3 from Moody's Investors Service for a planned $110 million financing to construct a new cathedral and other capital projects. This will allow the diocese to privately place 10-year taxable bonds with Deutsche Bank AG. The financing will help replace the old cathedral that was lost in the 1989 Loma Prieta earthquake. The diocese expects to have $114 million in debt after this financing closes. Moody's cited strengths like a 9% operating margin and solid donations, but also challenges like a substantial borrowing ratio and potential future lawsuits.