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

 NEW YORK, June 8 /PRNewswire/ -- PHH Corp.'s $100 million medium- term notes ($50 million 3.195 percent due June 8, 1994 and $50 million 3.26 percent due June 8, 1994) are rated 'A+' by Fitch. The rating reflects the company's strong position in each of its three service businesses, as well as its ability to effectively manage risk as demonstrated by exceptionally strong asset quality.
 While earnings growth has been limited by the prolonged global recession, PHH's balance sheet has strengthened as leverage has returned to more conservative levels and several marginal, non-strategic businesses have been sold.
 -0- 6/8/93
 /CONTACT: Valerie L. Gerard, 212-908-0577, of Fitch/
 (PHH)


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

LR -- NY056 -- 6578 06/08/93 12:55 EDT
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Publication:PR Newswire
Date:Jun 8, 1993
Words:127
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