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VENTURA CO. (CALIF.) AREA HOUSING AUTHORITY 'CCC' BONDS ON FITCHALERT NEGATIVE -- FITCH FINANCIAL WIRE --

 VENTURA CO. (CALIF.) AREA HOUSING AUTHORITY 'CCC' BONDS
 ON FITCHALERT NEGATIVE -- FITCH FINANCIAL WIRE --
 NEW YORK, Aug. 26 /PRNewswire/ -- The 'CCC' rating on Ventura County Area Housing Authority, CA's $9.4 million outstanding Multifamily Housing Revenue Bonds (Hacienda De Camarillo III Project) 1988 Series A is placed on FitchAlert with negative implications.
 Fitch has been informed by the bond trustee that the project's general partner, BIBO, Inc., filed for Chapter 11 reorganization in the U.S. Bankruptcy Court for the Central District of California on Aug. 7. While the impact of the filing on bondholder security is uncertain, it increases doubts over the likelihood that sufficient funds will be available on June 1, 1993, to pay a scheduled mandatory purchase of all outstanding bonds.
 -0- 8/26/92
 /CONTACT: Vincent J. Barberio of Fitch, 212-908-0505/ CO: Ventura County Area Housing Authority ST: California IN: SU: RTG


KD -- NY076 -- 3617 08/26/92 16:27 EDT
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Publication:PR Newswire
Date:Aug 26, 1992
Words:155
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