There is no rotation for text. Images on the other hand can be rotated.

To convert text to an image item: - make sure the text is final and correct (otherwise you will need to repeat the steps below again),

- select text item
- choose Menu/Build/Component/Picture
- verify the options, especially decide about :
* "Folder" where to store this new image
* "File Name" 
* "Image Format", (for text without a shadow or gradient GIF may be the best choice)
* "Advance Options" color depth or GIF transparency 
- Check on "Replace selection with new image" to have new image on the page
- once selection is exported as image and replaced by it, you can rotate it as with all other images.
* Tip: an image created from the text as GIF with transparency is a little "hard" to select later, clicking on the text is required and if letters are thin it may be difficult.