SAN FRANCISCO (Standard&Poor's CreditWire) Nov. 2, 1999--Standard&Poor's single-`A'-minus underlying rating (SPUR) on California Health Facilities Financing Authority's $300 million outstanding hospital revenue bonds, issued for UCSF Stanford Health Care (USHC), remains on CreditWatch with negative implications, where it was placed on August 5, 1999. The CreditWatch update follows 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
