Fitch rates Baylor University, Texas, bonds AA-

Fitch Ratings said it assigned a long-term AA- rating to about $115 million of fixed-rate revenue refunding bonds, series 2008C, issued by the Waco Education Finance Corp., Texas, on behalf of Baylor University.

The fixed-rate bonds are expected to price by negotiation on April 2.

Fitch said that the corporation expects to issue about $159.1 million of additional Baylor revenue refunding bonds (variable-rate bonds), series 2008A and series 2008B, on April 7.

Fitch said it will rate the variable-rate bonds nearer to closing.

The outlook is stable.

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