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PREMIER AUTO TRUST 1993-3 MONEY MARKET NOTES RATED 'AAA/F-1+' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, June 10 /PRNewswire/ -- Premier Auto Trust's 1993-3 $252 million Class A-1 Money Market Notes are rated `AAA/F-1+' by Fitch. The $403 million Class A-2 Floating Rate Notes and the $497 million Class A- 3 Asset Backed Notes are rated `AAA'. Premier Auto Trust 1993-3 $48 million Asset Backed Certificates are rated `A'. The ratings are based primarily on the characteristics of the retail auto receivables originated by Chrysler Credit Corp. as well as funds in the reserve account and excess spread. The rating also reflects the adequacy of the receivables' cash flow to pay timely principal and interest and that the likelihood of a Chrysler bankruptcy delaying payments to the noteholders or certificateholders is extremely remote.
 The receivables consist of installment sale contracts secured by new and used automobiles and light duty trucks. Approximately 86 percent of the pool is secured by new and previously owned current model year vehicles. Although the loan pool has little seasoning and accounts up to 90 days past due are included, Fitch expects this pool to perform as well as previously securitized pools since the underlying characteristics are similar. The pool is well diversified with 12 percent located in Texas, 10.2 percent in California, 8.4 percent in New York, and 5.3 percent in both Massachusetts and Pennsylvania. At closing, no other state accounted for more than 4.9 percent of the initial pool balance.
 The financial structure provides for all principal payments collected from the receivables to be distributed first to the money market notes. Further, excess cash will be distributed as an additional amount of principal. Once the money market note balance equals zero, the remaining notes are sequential pay and will be entitled to 96 percent of principal collections. In addition, the remaining note classes are entitled to excess cash. The certificateholders will be entitled to 4 percent of principal after the money market balance is reduced to zero. Distributions of principal and interest on the certificates will be subordinated to payments due on the notes. Principal and interest on the notes and certificates will be distributed monthly.
 Class A-2 notes will accrue interest at a rate equal to one-month LIBOR plus 0.15 percent. An interest rate cap will be provided by Credit Suisse Financial Products in the event that the interest rate payable on class A-2 exceeds 9 percent.
 The stress scenario to determine if the final scheduled payment date for the money market notes will be met assumed a very slow prepayment rate and no losses, as well as funding receivables daily over a six- month period. Fitch also assumed that class A-2 reached the interest rate cap by month three. Under this scenario, which is consistent with a `F-1+' rating regarding timeliness of payment, the final scheduled payment date was met for the money market notes. In addition, the 33- month stated maturity for class A-2 notes was also met.
 Credit enhancement for the notes will be supported by the 4 percent subordination provided by the certificates, a 1.70 percent up-front cash deposit in the reserve account, and build-up of overcollateralization from the application of excess spread, initially well over 500 basis points (bps), as a principal distribution. Even under the assumption that class A-2 reaches the interest rate cap, over 300 bps of excess cash is available. Under Fitch's `AAA' loss assumption of 8.50 percent losses, all classes of notes survived. The certificates, benefiting from the reserve account and overcollateralization, survived Fitch's `A' loss assumption of 4.75 percent losses. When overcollateralization reaches 5.00 percent, the reserve fund will be reduced to 0.75 percent of the original pool balance. Given Chrysler's outstanding loan performance for previous securitizations, Fitch believes that 8.5 percent and 4.75 percent loss assumptions adequately reflect the pool's expected performance under the `AAA' and `A' scenarios, respectively.
 An initial deposit will be made to the prefunding account equal to approximately $960 million to purchase receivables within six months after closing. Delivery of new receivables may take place as frequently as on a daily basis. Daily funding of receivables reduces the negative carry associated with the prefunding account as the account earns interest at a rate lower than the interest expense on the securities. In the unlikely event an insufficient amount of receivables is purchased, any funds remaining in the account will be used to redeem (in part) the notes and the certificates on a pro rata basis. Given the funding experience on previous securitizations, the negative carry amount is minimal, even if the floating rate class hits the cap rate.
 -0- 6/10/93
 /CONTACT: Suzanne Mistretta, 212-908-0637 or Rita Duggan, 212-908-0628, both of Fitch/


CO: Premier Auto Trust ST: IN: SU: RTG

WB -- NY048 -- 0628 06/10/93 12:17 EST
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Date:Jun 10, 1993
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