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CHASE MANHATTAN GRANTOR TRUST 1993-A RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, April 15 /PRNewswire/ -- Chase Manhattan Grantor Trust 1993-A, $750 million 4.2 percent Auto Loan Pass-Through Certificates are rated `AAA' by Fitch. The rating is based on the excellent quality of the receivables, the 7 percent cash collateral account, the sound legal structure and the strong servicing capabilities of Chase.
 The receivables consist of simple interest retail installment sales contracts secured by new and used, luxury and non-luxury automobiles originated by The Chase Manhattan Bank. The bank targets primarily borrowers who have exceptional credit characteristics. This is demonstrated by a very low repossession rate which has remained under 20 basis points (bps) during the last five years. In fact, asset quality continues to improve as Chase's origination policies focus on maintaining a high quality portfolio while minimizing loan losses, delinquencies and repossessions.
 Chase primarily finances luxury autos, with distribution by manufacturers such as Acura, BMW, Cadillac, Ferrari, Jaguar, Lexus, Mercedes, Rolls Royce, Saab and Volvo. Non-luxury autos account for approximately 28 percent of the pool, with Honda representing about half of that category. Fitch does not view the level of non-luxury autos in the pool as risky due to the bank's strict underwriting criteria which qualifies its non-luxury car customer at standards set for luxury vehicles. In fact, the overall performance of non-luxury auto loans has performed as well, and slightly better than Chase's luxury auto portfolio.
 Used vehicles represent 26 percent of the pool and accounts past due of up to 30 days are also included. While these characteristics may expose the pool to a higher degree of defaults, this risk is substantially mitigated by Chase's prudent underwriting policies as well as the pool diversification, seasoning, and the very high level of excess spread. The pool is geographically well diversified, with concentrations of 20 percent in California, 13 percent in Texas, 8 percent in Massachusetts, 8 percent in New York and 7 percent in Florida, respectively.
 Credit enhancement for the certificates will consist of an initial cash deposit of 7 percent of the original pool balance in a cash collateral account. In addition, excess cash of approximately 475 bps will be available on a monthly basis to cover losses and delinquencies. In no event will the cash collateral account be reduced to below $11,244,262.97 (1.5 percent of the original pool balance). Looking at Chase's past loss and delinquency performance, Fitch believes that the certificateholders are sufficiently protected by the cash collateral account and excess spread.
 The legal structure provides assurance that in the event of an insolvency of Chase, the certificateholders should remain insulated. Thus, the likelihood of a disruption in payments to the certificateholders is remote.
 Chase will act as servicer for the transaction. The bank is an excellent servicer as demonstrated by the low level of delinquencies and losses on its portfolio as well as its highly automated operations and experienced management. Fitch is confident that Chase will provide excellent servicing and administration over the life of the transaction.
 -0- 4/15/93
 /CONTACT: Suzanne Mistretta, 212-908-0637, or Rita Duggan, 212-908-0628, both of Fitch/
 (CMB)


CO: Chase Manhattan Grantor Trust ST: New York IN: FIN SU: RTG

SM -- NY103 -- 6400 04/15/93 15:42 EDT
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Date:Apr 15, 1993
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