CHICAGO — Standard & Poor's last week revised its outlook to negative on the Western Michigan University Board of Trustees, warning that the university -- one of the state's largest -- faces growing pressure from its debt load.

Standard & Poor's affirmed its A long-term rating on the university's outstanding debt. The school is expected to privately place $68.4 million of bonds within the next month and float roughly $70 million of debt in the public market, the ratings firm said.

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