BANKING & FINANCE - Feb. 20, 1993
From Times Staff and Wire Reports
Angeles Corp. to Report Loss: Angeles Corp. said it will report a “significant loss” in its second fiscal quarter ended Dec. 31, 1992, and said it will begin discussions with its major debt-holders on restructuring all of its major debt obligations. The company said Angeles Mortgage Investment Trust, a real estate investment trust that an Angeles Corp. unit serves as adviser, is facing liquidity problems caused by the inability of its borrowers to fully service outstanding debt obligations. Angeles, which had provided certain guarantees to the trust, said it has informed the trust that it is unable to fulfill the guarantees.
