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PHH CORP. $100 MILLION 6.5 PERCENT NOTES RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, Jan. 25 /PRNewswire/ -- PHH Corp.'s $100 million new 6.5 percent senior notes due Feb. 1, 2000, are rated A+' by Fitch. The credit trend is stable.
 The rating reflects the company's favorable business position and ability to manage risk. PHH has experienced good and consistent profitability through various economic cycles while operating in highly cyclical business lines -- vehicle fleet management and home relocation services. The company has faced some profit erosion relative to prior years due to sluggish business conditions and significant investments in infrastructure. Nevertheless, the deterioration is only moderate and the company is resuming its earnings growth as the economy continue to improve.
 -0- 1/25/93
 /CONTACT: Valerie Gerard of Fitch, 212-908-0577/
 (PHH)


CO: PHH Corp. ST: Connecticut IN: SU: RTG

CK -- NY064 -- 8515 01/25/93 12:46 EST
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Publication:PR Newswire
Date:Jan 25, 1993
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