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RIVERSIDE COUNTY, CALIF. $200 MILLION 1992-1993 TAX AND REVENUE ANTICIPATION NOTES RATED 'F-1+' BY FITCH -- FITCH FINANCIAL WIRE--

 RIVERSIDE COUNTY, CALIF. $200 MILLION 1992-1993 TAX AND REVENUE ANTICIPATION NOTES RATED 'F-1+' BY FITCH -- FITCH FINANCIAL WIRE--
 NEW YORK, June 18 /PRNewswire/ -- Riverside County, Calif. $200 million 1992-1993 Tax and Revenue Anticipation Notes Series A are rated 'F-1+' by Fitch. The notes are to be sold through negotiation by a syndicate led by First Boston Corp. during the week of June 22. The notes mature June 30, 1993, and are backed by the county's general obligation pledge with a first lien on unrestricted revenue received during fiscal 1993.
 The 'F-1+' rating reflects the strong balances held by the county treasury that are available to make loans to the general fund throughout the fiscal year. While the general fund month-end balances are sensitive to uncertainties such as the state's budget levels and timing, the projected cash flow deficits are well covered by the available treasury funds.
 The rating also takes into consideration the county's long-term credit factors, including its overall economic diversity (the county contains developed and developing cities, suburban areas, and resorts), the current economic downturn following a long period of rapid growth, an above average but manageable debt burden, and adequate financial operations.
 -0- 6/18/92
 /CONTACT: Amy Doppelt of Fitch 212-908-0514/ CO: ST: California IN: SU: RTG


AH -- NY088 -- 1721 06/18/92 18:28 EDT
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Publication:PR Newswire
Date:Jun 18, 1992
Words:220
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