Standard&Poor's Ratings Services said today that Calpine Corp.'s announcement that it has identified over $260 million of the potential $650 million of nonstrategic asset sales for 2002 is in line with Standard&Poor's expectations of the company's plans announced earlier this year. Closing of sales by year-end of Calpine's interest in the Lockport Power Plant, the De Pere Energy Center, some Canadian oil and gas properties, some power development interests, and two General Electric LM6000 combustion gas turbines could generate about $260 million, which would reduce pressure to draw on Calpine's bank facility to fund construction activities. Calpine's cash burn-rate this year is forecast to equal or exceed about $4.9 billion. Cash will mostly come from about
