COBCH1140 Warning with VALUE clause in copybook; Visual COBOL

[Migrated content. Thread originally posted on 02 May 2012]

I am getting a warning for every working storage definition with a VALUE clause saying that VALUE can only be used with the INITIALIZE statement. My source format is Fixed. Is there a way to resolve this warning? I have some legacy code that uses the VALUE clause extensively and will cause a lot of recoding to put the initial values in the variable fields. Most of the values are not spaces or zero. Below is an example:

05 NAV-SEC-INFO.
10 FILLER PIC X(05) VALUE ' '.
10 FILLER PIC X(15) VALUE '044044044044044'.
10 FILLER PIC X(02) VALUE ' '.
10 FILLER PIC X(11) VALUE ' LXXO001 '.
10 FILLER PIC X(35) VALUE
'Online Update '.