Fitch rates Baylor University, Texas, bonds AA-/F1+

Fitch Ratings said it assigned a rating of AA-/F1+ to the Waco Education Finance Corp.'s $159.1 million of revenue refunding bonds, Baylor University issue tax-exempt variable-rate demand bonds, series 2008.

The issue consists of $79.55 million of series 2008A and $79.55 million of series 2008B.

The short-term rating is based on a standby bond purchase agreement from JPMorgan Chase Bank, NA.

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