Cendant Corporation Credit Rating

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Date	Document Type	Title	Source
28 Jul 2006	Rating Action	MOODY'S DOWNGRADES AND WITHDRAWS SOME OF CENDANT RATINGS; AFFIRMS OTHERS.	Moody's Investors Service
28 Jul 2006	Credit Opinion	Cendant Corporation	Moody's Investors Service
27 Jul 2006	Rating Action	MOODY'S ASSIGNS FIRST-TIME RATINGS TO TDS INVESTOR CORPORATION (CORPORATE FAMILY OF B2, SPECULATIVE GRADE LIQUIDITY RATING OF SGL-2); OUTLOOK STABLE.	Moody's Investors Service
20 Jun 2006	Announcement	MOODY'S AFFIRMS CENDANT'S Baa1 SR RATING; THE RATING OUTLOOK REMAINS DEVEOPING	Moody's Investors Service
24 Apr 2006	Issuer Comment	MOODY'S COMMENTS ON CENDANT'S PLAN TO EXPLORE SALE OF TRAVEL DISTRIBUTION DIVISION	Moody's Investors Service
07 Apr 2006	Rating Action	MOODY'S ASSIGNS FIRST TIME Baa2 SR UNSECURED RATINGS TO REALOGY CORPORATION; $1.5 BILLION UNSECURED CREDIT FACILITY RATED Baa2; OUTLOOK STABLE	Moody's Investors Service
27 Mar 2006	Rating Action	MOODY'S ASSIGNS RATINGS TO CENDANT CAR RENTAL GROUP, LLC (EXPECTED TO BE RENAMED AVIS BUDGET CAR RENTAL, LLC); CORPORATE FAMILY AND SENIOR SECURED AT Ba2	Moody's Investors Service
27 Feb 2006	Liquidity Risk Assessment	Cendant Corporation	Moody's Investors Service
13 Dec 2005	Announcement	MOODY'S AFFIRMS CENDANT'S Baa1 SR UNSECURED RATING AND MAINTAINS A DEVELOPING OUTLOOK	Moody's Investors Service
28 Nov 2005	Analysis	Cendant Corporation	Moody's Investors Service
24 Oct 2005	Rating Action	MOODY'S CHANGES CENDANT'S RATING OUTLOOK TO DEVELOPING AND AFFIRMS ITS Baa1 SR UNSECURED RATINGS.	Moody's Investors Service
30 Sep 2005	Financial Reporting Assessment	Cendant Corporation	Moody's Investors Service
26 Apr 2005	Analysis	Cendant Corporation	Moody's Investors Service
01 Apr 2005	Rating Action	MOODY'S ASSIGNS A PRIME-2 RATING TO CENDANT'S $1.0 BILLION COMMERCIAL PAPER PROGRAM AND AFFIRMS ALL EXISTING RATINGS.	Moody's Investors Service
04 Mar 2005	Rating Action	MOODY'S INVESTORS SERVICE CONFIRMS CENDANT'S Baa1 SR RATING; ASSIGNS A STABLE RATING OUTLOOK.	Moody's Investors Service
01 Feb 2005	Rating Action	MOODY'S LOWERS SENIOR DEBT RATING OF PHH CORPORATION TO Baa3; RATING OUTLOOK IS STABLE	Moody's Investors Service
13 Jan 2005	Rating Action	MOODY'S EXPECTS TO LOWER Baa1 SENIOR DEBT RATINGS OF PHH CORPORATION TO Baa3	Moody's Investors Service
21 Dec 2004	Analysis	Cendant Corporation	Moody's Investors Service
16 Dec 2004	Rating Action	MOODY'S PLACES CENDANT'S Baa1 RATING ON REVIEW FOR POSSIBLE DOWNGRADE.	Moody's Investors Service
14 Oct 2004	Rating Action	MOODY'S PLACES RATINGS (Baa1 SENIOR DEBT) OF PHH CORPORATION UNDER REVIEW FOR POSSIBLE DOWNGRADE AND AFFIRMS CENDANT'S RATINGS (Baa1 SENIOR DEBT)	Moody's Investors Service
29 Sep 2004	Rating Action	MOODY'S AFFIRMS CENDANT'S Baa1 SR UNSECURED RATING; THE RATING OUTLOOK REMAINS STABLE.	Moody's Investors Service
08 Jul 2004	Rating Action	MOODY'S AFFIRMS CENDANT'S AND PHH'S Baa1 RATINGS; RATING OUTLOOKS REMAIN STABLE	Moody's Investors Service
29 Apr 2004	Rating Action	MOODY'S CONFIRMS SENIOR UNSECURED DEBT RATINGS OF PHH CORPORATION; RATING OUTLOOK IS STABLE	Moody's Investors Service
29 Apr 2004	Rating Action	MOODY'S CHANGES CENDANT'S RATING OUTLOOK TO STABLE; AFFIRMS EXISTING RATINGS	Moody's Investors Service
05 Mar 2004	Financial Statement Ratios	Cendant Corporation	Moody's Investors Service
12 Dec 2003	Analysis	Cendant Corporation	Moody's Investors Service
29 Aug 2002	Analysis	Cendant Corporation	Moody's Investors Service
23 Aug 2002	Rating Action	MOODY'S CONFIRMS CENDANT'S AND PHH'S Baa1 SENIOR RATING, AND MAINTAINS A NEGATIVE OUTLOOK.	Moody's Investors Service
18 Apr 2002	Rating Action	MOODY'S CONFIRMS CENDANT AND PHH'S RATINGS; OUTLOOK REMAINS NEGATIVE.	Moody's Investors Service
01 Apr 2002	Rating Action	MOODY'S CONFIRMS CENDANT'S Baa1 SENIOR RATING, AND MAINTAINS ITS NEGATIVE OUTLOOK	Moody's Investors Service
26 Feb 2002	Rating Action	MOODY'S CONFIRMS CENDANT'S AND PHH'S Baa1 SENIOR UNSECURED RATING, AND MAINTAINS A NEGATIVE OUTLOOK.	Moody's Investors Service
25 Sep 2001	Rating Action	MOODY'S PLACES THE RATINGS OF FIVE LODGING COMPANIES ON REVIEW FOR POSSIBLE DOWNGRADE; CONFIRMS THE RATING OF FOUR SEASONS AND CHANGES THE OUTLOOK TO NEGATIVE.	Moody's Investors Service
27 Jul 2001	Rating Action	MOODY'S RE-CALIBRATES ITS PREFERRED STOCK RATING SCALE TO PROMOTE CROSS-SECTOR COMPARABILITY	Moody's Investors Service
18 Jun 2001	Rating Action	MOODY'S CONFIRMS RATINGS OF CENDANT CORPORATION AND PHH CORPORATION AT Baa1/Prime-2; OUTLOOKS REMAINS NEGATIVE	Moody's Investors Service
09 Mar 2001	Rating Action	MOODY'S UPGRADES AVIS SUB NOTES TO Baa3; CONFIRMS CENDANT AND PHH Baa1 SR RATINGS.	Moody's Investors Service
13 Nov 2000	Rating Action	MOODY'S CONFIRMS CENDANT AND PHH'S Baa1 SENIOR DEBT RATINGS; MAINTAINS NEGATIVE OUTLOOK	Moody's Investors Service
02 Nov 2000	Rating Action	MOODY'S CONFIRMS Baa1 SENIOR RATINGS OF CENDANT and PHH; MAINTAINS NEGATIVE OUTLOOK	Moody's Investors Service
15 Aug 2000	Rating Action	MOODY'S COMMENTS ON CENDANT'S OFFER TO ACQUIRE AVIS	Moody's Investors Service
07 Dec 1999	Rating Action	MOODY'S CONFIRMS DEBT RATINGS OF CENDANT CORPORATION AND MAINTAINS NEGATIVE OUTLOOK..	Moody's Investors Service
17 Jun 1999	Rating Action	MOODY'S DOWNGRADES PHH CORPORATION'S LONG-TERM RATINGS (SENIOR TO Baa1); CONFIRMS PHH'S SHORT-TERM RATING (PRIME-2); AND CONFIRMS CENDANT'S RATINGS (SENIOR AT Baa1); OUTLOOK FOR PHH AND CENDANT IS NEGATIVE	Moody's Investors Service
24 May 1999	Rating Action	MOODY'S CONFIRMS CENDANT RATINGS; PLACES PHH'S LONG TERM RATINGS UNDER REVIEW FOR DOWNGRADE; CONFIRMS PHH'S SHORT TERM RATING	Moody's Investors Service
09 Oct 1998	Rating Action	MOODY'S DOWNGRADES CENDANT CORPORATION'S LONG-TERM RATINGS AND PHH CORPORATION'S LONG- AND SHORT-TERM RATINGS; RATING OUTLOOK IS NEGATIVE	Moody's Investors Service
16 Apr 1998	Rating Action	MOODY'S PLACES LONG-TERM DEBT RATINGS OF CENDANT CORPORATION AND LONG- AND SHORT-TERM RATINGS OF PHH CORPORATION UNDER REVIEW FOR POSSIBLE DOWNGRADE	Moody's Investors Service
01 Apr 1998	Rating Action	MOODY'S ASSIGNS PRIME-2 COMMERCIAL PAPER RATING TO CENDANT CORPORATION	Moody's Investors Service
23 Mar 1998	Rating Action	MOODY'S CONFIRMS RATINGS OF CENDANT CORPORATION AND PHH CORPORATION; CONTINUES REVIEW OF AMERICAN BANKERS INSURANCE GROUP, INC.'S RATINGS FOR POSSIBLE UPGRADE	Moody's Investors Service
23 Feb 1998	Rating Action	MOODY'S ASSIGNS "a3" RATING TO TRUST PREFERRED SECURITIES ISSUED BY CENDANT CAPITAL I AND CONFIRMS THE DEBT RATINGS OF CENDANT CORPORATION AND PHH CORPORATION	Moody's Investors Service
23 Feb 1998	Rating Action	MOODY'S ASSIGNS "a3" RATING TO TRUST PREFERRED SECURITIES ISSUED BY CENDANT CAPITAL I AND CONFIRMS THE DEBT RATINGS OF CENDANT CORPORATION AND PHH CORPORATION	Moody's Investors Service

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