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PHH CORP. $35 MILLION 3.72 PERCENT NOTES RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, Jan. 14 /PRNewswire/ -- PHH Corp.'s $35 million new 3.72 percent medium-term notes due Jan. 14, 1994 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 continues to improve.
 -0- 1/14/93
 /CONTACT: Valerie Gerard of Fitch, 212-908-0577/
 (PHH)


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

WB -- NY041 -- 4876 01/14/93 12:28 EST
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Publication:PR Newswire
Date:Jan 14, 1993
Words:136
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