LOS ANGELES - The Summit Medical Center in Oakland, Calif., last week settled an employee strike that harmed the hospital's financial standing and generated credit rating concerns.

Standard & Poor's Corp, this month placed the medical center's bonds on CreditWatch with negative implications. The alert, affecting a BBB-plus rating on $57 million of revenue bonds issued in 1989 and 1985, reflects "operating and financial pressures resulting from a protracted strike, and the threat it poses to the implementation of a sound financial plan," the rating agency said.

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