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S&P Upgrades Chase Manhattan Auto Grantor/Owner Trust

8 September 1999

S&P Upgrades Chase Manhattan Auto Grantor/Owner Trust

    NEW YORK, Sept. 7 -- Standard & Poor's today raised its
ratings on Chase Manhattan Auto Grantor Trust 1996-B's and several of Chase
Manhattan Auto Owner Trust's subordinated classes (see list).
    The ratings reflect the buildup of the credit enhancement of these
transactions due to stable credit performance.  Standard & Poor's anticipates
that the remaining credit support will be sufficient to support the
certificates at their new rating levels. -- CreditWire

    OUTSTANDING RATINGS RAISED
                                                        Rating
                                                     To        From
    Chase Manhattan Auto Grantor Trust 1996-B
      Class B certificates                           AA+       A+

    Chase Manhattan Auto Owner Trust 1996-C
      Subordinated certificates                      AA+       A+

    Chase Manhattan Auto Owner Trust 1997-A
      Subordinated certificates                      AA        A+

    Chase Manhattan Auto Owner Trust 1997-B
      Subordinated certificates                      AA-       A+