Standard&Poor's affirms its underlying rating on UCSF Stanford Health Care (USHC) and maintains the rating on CreditWatch with negative implications following the announced termination of the merger that formed USHC. The `A-' SPUR is affirmed based on USHC's strong liquidity, and on the belief that both institutions will work in good faith to dissolve the merger. The rating remains on CreditWatch with negative implications due to the risk of business disruption and further financial deterioration during the transition period and uncertainty surrounding the ultimate credit quality of the two entities, University of California San Francisco (UCSF) Medical Center and Stanford Health Services, once the merger is fully dissolved. On Oct. 28, 1999, the president of Stanford University initiated
