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RIVERSIDE COUNTY HOUSING AUTHORITY COLLATERALIZED LETTER OF CREDIT BONDS RAISED TO 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --

RIVERSIDE COUNTY HOUSING AUTHORITY COLLATERALIZED LETTER OF CREDIT BONDS
 RAISED TO 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --
 NEW YORK, Aug. 14 /PRNewswire/ -- Riverside County Housing Authority, Calif.'s $6 million outstanding Multifamily Housing Revenue Bonds (Mountain View Project) 1985 Series D rating is raised to 'AAA' from 'A-' by Fitch.
 The housing authority's bond issue is secured by a collateralized letter of credit from Redlands Federal Bank (formerly Redlands Federal Savings and Loan Association). The letter of credit is, in turn, secured by collateral, held by the trustee, consisting of U.S. Government obligations and/or certificates guaranteed by the Federal Home Loan Mortgage Corporation, the Federal National Mortgage Association, and the Government National Mortgage Association. The revised rating reflects an increase in the required levels of collateral maintained, which now meet Fitch's 'AAA' overcollateralization standards for this type of structured transaction.
 -0- 8/14/92
 /CONTACT: Vincent J. Barberio of Fitch, 212-908-0505/ CO: Riverside County Housing Authority ST: California IN: SU: RTG


LR -- NY047 -- 0009 08/14/92 12:26 EDT
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Publication:PR Newswire
Date:Aug 14, 1992
Words:172
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