PHH to Float New Debt, But Fitch Labels it Junk

PHH Corp., Mt. Laurel, N.J., plans to sell $250 million of unsecured debt, using the proceeds to pay off an equal amount of debt that comes due next April.

Article source: http://www.nationalmortgagenews.com/dailybriefing/2010_487/phh-unsecured-debt-1027683-1.html

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