Fitch Ratings said it has downgraded to A-plus from AA-minus the rating on Baylor University's outstanding debt and assigned an A-plus rating approximately $200 million Baylor taxable fixed rate bonds, series 2012A.

The bonds are expected to be sold via negotiation on or about the week of Oct. 15. Proceeds will be used to fund construction of a new football stadium, an academic building, a research facility and other capital projects as well as to pay associated costs of issuance.

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