NEW YORK (Standard&Poor's) Sept. 3, 2003--Standard&Poor's Ratings Services said today that Calpine Corp.'s (B/Negative/--) sale of a 70% interest in its Auburndale power plant to a subsidiary of ArcLight Energy Partners Fund I L.P. for $86 million in cash will slightly strengthen liquidity at the expense of some long-term revenue stability. However, this is in keeping with Calpine's stated plan to sell some of its qualifying facilities to boost liquidity and is factored into the current ratings. Calpine will hold the remaining interest in the facility and will continue to provide operations and maintenance services. The 150 MW, natural gas-fired cogeneration facility is located in Auburndale, Fla., approximately 50 miles east of Tampa. Calpine sells the
