The placement on CreditWatch with negative implications of bonds issued for Catholic Healthcare West (CHW), Calif. by California Health Facilities Finance Authority; Henderson, Nev.; California Statewide Communities Development Authority; Maricopa County Industrial Development Authority, Ariz.; and Arizona Health Facilities Authority follows the release of CHW's audited fiscal 2000 financial results, which proved significantly worse than expectations. Standard&Poor's is scheduled to meet with the new management team at CHW at the end of November to review audited results, the budget for fiscal 2001, and the strategic plan in detail, at which time a downgrade will be considered. CHW was downgraded to 'BBB+' from 'A' in June 1999, and the outlook was revised to negative in November 1999. At that
