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PHH CORP. $100 MILLION MEDIUM-TERM NOTES DUE 1994 RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, May 24 /PRNewswire/ -- PHH Corp.'s $100 million floating- rate medium-term notes due May 26, 1994 are rated `A+'. 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. The credit trend is stable.
 -0- 5/24/93
 /CONTACT: Valerie L. Gerard of Fitch, 212-908-0577/
 (PHH)


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

WB -- NY046 -- 1637 05/24/93 11:07 EDT
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Publication:PR Newswire
Date:May 24, 1993
Words:116
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