Standard & Poor's Ratings Services said it lowered its long-term rating to A-plus from AA-minus on various revenue bonds issued for Baylor University, Texas.

In addition, Standard & Poor's assigned its A-plus rating to the approximately $200 million series 2012A taxable revenue bonds issued for Baylor University. Finally, Standard &Poor's also affirmed its A-1-plus short-term rating on the university's taxable commercial paper notes. The outlook is stable.

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