CHICAGO--(BUSINESS WIRE)--Fitch Ratings has downgraded Baxter International Inc.'s (Baxter) long-term Issuer Default Rating (IDR) by two notches to 'BBB+' and assigned a Stable Rating Outlook. In addition, Fitch downgraded the company's short-term IDR to 'F2' from 'F1'. Baxter had approximately $10 billion in outstanding debt at March 31, 2015. A full list of Fitch's ratings actions follows at the end of this release. KEY RATING DRIVERS --The 'BBB+' rating reflects Baxter's business profile pro