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RIVERSIDE COUNTY (CA) TAX AND REVENUE ANTICIPATION NOTES RATED 'F-1+' AND 'F-1+/F-1+' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, June 16 /PRNewswire/ -- Riverside County, CA's $100 million (approximately) 1993-94 Tax and Revenue Anticipation Notes Series A are rated 'F-1+' by Fitch and the county's $125 million (approximately) 1993-94 Variable Rate Tax and Revenue Anticipation Notes Series B are rated 'F-1+/F-1+'. Both series of one-year notes will be offered on or about June 17 through negotiation by First Boston Co.
 The ratings reflect strong balances held by the county that are available to make loans to the general fund throughout the fiscal year. The additional 'F-1+' rating on the series B notes reflects the liquidity support for unremarketed tendered notes provided by a standby note purchase agreement with Credit Suisse (rated 'AAA/F-1+' by Fitch for structured finance transactions) and Swiss Bank (rated 'F-1+' by Fitch for short-term structured finance transactions).
 While the general fund cash flow is balanced narrowly and sensitive to uncertainties, such as the state's budget, any potential cash flow deficit is well covered by the borrowable funds. The rating also takes into consideration the county's long-term credit factors, including its overall economic diversity, containing developed and developing cities, suburban areas, and resorts; the current prolonged economic downturn following rapid growth; above average but manageable debt burden; and adequate financial operations.
 -0- 6/16/93
 /CONTACT: Amy S. Doppelt, 212-908-0514, of Fitch/


CO: ST: California IN: SU: RTG

LR -- NY043 -- 2600 06/16/93 12:13 EDT
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Date:Jun 16, 1993
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