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DCR Rates Premier Auto Trust 1998-3 Asset-Backed Securities

26 May 1998

DCR Rates Premier Auto Trust 1998-3 Asset-Backed Securities

    CHICAGO, May 26 -- Duff & Phelps Credit Rating Co. (DCR) has
assigned preliminary ratings of 'D-1+' (D-One-Plus) to the $300 million
Class A-1 notes, 'AAA' (Triple-A) to the $510 million Class A-2, $370 million
Class A-3 and $311 million Class A-4 notes and  'AA-' (Double-A-Minus) to the
$58 million Class B notes issued by Premier Auto Trust 1998-3.
    The ratings on the notes are based on credit enhancement in the form of
a reserve fund and overcollateralization supporting both the Class A and
Class B notes, along with the Class B notes' being subordinate to the
Class A notes, full turbo structure which uses excess spread to fast pay
the notes, creating further overcollateralization, Chrysler's considerable
experience in servicing the receivables, and the strong legal structure of the
transaction.
    DCR's ratings on the Premier Auto Trust 1998-3 notes are comparable to
those on the previous CFC transactions, despite the slightly lower
overcollateralization from CFC's last transaction.
    For a copy of the New Financing Report Summary on this transaction,
please call the DCR Hotline at 312-368-3198 or email hotline@dcrco.com.