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DUFF & PHELPS RATES AMERCO PREFERRED

 CHICAGO, Oct. 6 /PRNewswire/ -- Duff & Phelps Credit Rating Co. has assigned a rating of "BBB-" (Triple-B-Minus) to Amerco's $150 million issue of perpetual preferred stock. The issue is non-callable for seven years.
 The rating reflects Amerco's improving earnings following renovation of the company's U-Haul rental fleet and discontinuation of unprofitable business
lines. The addition of 56,000 new trucks to the fleet has helped to restore Amerco's market position, particularly in the profitable one-way segment. Amerco has also made progress in controlling operating costs. Despite these positive developments, Amerco's ROE has remained low due primarily to a competitive pricing environment. Positively, the rental operation was profitable in fiscal 1993 for the first time in recent years, and it appears poised for continued improvement as higher cost leases roll off. Strong earnings from the highly profitable insurance operations are expected to continue.
 -0- 10/6/93
 /CONTACT: Philip M. Zahn of Duff & Phelps Credit Rating Co., 312-368-3154/


CO: Amerco ST: Arizona IN: TRN SU: RTG

TS -- NY067 -- 9434 10/06/93 15:27 EDT
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Publication:PR Newswire
Date:Oct 6, 1993
Words:173
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