CHICAGO — Chicago-based Roosevelt University enters the market next week to sell $188 million of debt to finance a new multi-use building that officials believe was worth a rating downgrade for the school to keep its transformation from a commuter school to a residential urban campus on track.

About $120 million of the fixed-rate issue is new money while another $33 million will refund variable-rate bonds from past issues. The letter of credit on the bonds being refunded expires in 2012.

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