NY -- Standard&Poor's CreditWire 1/24/96 -- Standard&Poor's affirms its single-`B' rating of Calpine Corp.'s $105 million senior notes due 2004 and removes the rating from CreditWatch, where it was placed July 13, 1995 following Calpine's signing of a purchase agreement to acquire the operating assets of O'Brien Environmental Energy Inc. On Jan. 17, 1996, a U.S. Bankruptcy Court judge approved the sale of O'Brien's assets to NRG Energy Inc., another qualified bidder. The uncertainty surrounding Calpine's ultimate financing of this potential acquisition resulted in Calpine's rating being placed on CreditWatch with developing implications. However, now that O'Brien will not be acquired by Calpine, there is no longer any need to keep Calpine's rating on CreditWatch. The
