NY -- Standard&Poor's CreditWire 5/9/96 -- Standard&Poor's today has assigned its single-`B' rating to Calpine Corp.'s $175 million senior unsecured notes due 2006. Also, Standard&Poor's has affirmed its single-`B' rating on Calpine's $105 million senior unsecured notes due 2004. Calpine Corp., a San Jose, Calif.-based corporation founded in 1984, is engaged in the development, acquisition, ownership, and operation and maintenance of independent power projects. Calpine has interests in 14 projects for a net ownership of 863MW. The rating affirmation is based on the following risks: -- The uncertainty regarding Calpine's future ownership. Calpine's parent corporation, Electrowatt Ltd., has indicated to Calpine that it is interested in reducing its holdings in Calpine. As a result,
