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PREMIER AUTO TRUST 1992-4 ASSET BACKED NOTES RATED 'AAA' BY FITCH --FITCH FINANCIAL WIRE (FFW)--

 PREMIER AUTO TRUST 1992-4 ASSET BACKED NOTES RATED 'AAA' BY FITCH
 --FITCH FINANCIAL WIRE (FFW)--
 NEW YORK, July 15 /PRNewswire/ -- Premier Auto Trust 1992-4 $900 million asset-backed notes are rated 'AAA' by Fitch. The $37.5 million asset-backed certificates are rated 'A+'. The certificates are subordinated to the notes and will receive principal and interest on a monthly basis. Payments due the noteholders will be distributed quarterly.
 The ratings reflect the strong characteristics of the auto receivables, the levels of credit enhancement, as well as Chrysler Credit Corp.'s excellent servicing capabilities. The credit quality of Chrysler Financial Corp.'s (CFC) loans is excellent, which is evident by the exceptional performance of their previously securitized loans. In addition, Fitch believes that the likelihood of a Chrysler bankruptcy delaying payments to the noteholders and certificateholders is remote.
 The notes will be secured by receivables totaling approximately $522 million and a pre-funding account established at closing. A deposit will be made to the pre-funding account equal to approximately $416 million and will be used to purchase new receivables by the January 1993 distribution date.
 The receivables consist of installment sale contracts secured by new and used automobiles and light duty trucks. The pool is well diversified with concentrations in Texas, California, New York, and New Jersey. Although there is very little seasoning, Fitch believes Chrysler's prudent origination policies strongly contribute to the overall credit quality of the pool. Furthermore, the high level of excess spread will offset any delinquencies and losses arising from the lack of payment histories.
 Credit enhancement for the notes will be provided by the 4 percent subordinated interest of the certificates and a reserve fund which will be funded with an initial deposit of 5.75 percent of the initial pool balance.
 The certificates will be protected from delinquencies and losses by the 5.75 percent reserve fund. Also, the weighted average excess spread of about 550 basis points will be available monthly to offset delinquencies and losses. Fitch believes that the levels of credit enhancement combined with the availability of excess spread are more than sufficient, given the high quality of the loans.
 In addition, deposits equal to 5.75% of new receivables will be made to the reserve account as the new receivables are purchased by the trust. Funds will also be deposited to an account for any "negative carry" (interest due to the note and certificate holders in excess of reinvestment earnings on the pre-funding account).
 -0- 7/15/92
 /CONTACT: Suzanne Mistretta, 212-908-0637, or Mary Griffin 212-908-0537, both of Fitch/
 (C) CO: Premier Auto Trust; Chrysler Credit Corp. ST: IN: AUT SU: RTG


TQ -- NY049 -- 9511 07/15/92 11:41 EDT
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Publication:PR Newswire
Date:Jul 15, 1992
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