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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
Amendment No.: 3
Name of Issuer: Duff & Phelps Credit
Title of Class of Securities: Common Stock
CUSIP Number: 26432F109
(Date of Event Which Requires Filing of this Statement)
December 31, 1999
Check the appropriate box to designate the rule pursuant to
which this Schedule is filed:
/ / Rule 13d-1(b)
/X/ Rule 13d-1(c)
/ / Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a
reporting person's initial filing on this form with respect
to the subject class of securities, and for any subsequent
amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page
shall not be deemed to be "filed" for the purpose of
Section 18 of the Securities Exchange Act of 1934 ("Act") or
otherwise subject to the liabilities of that section of the
Act but shall be subject to all other provisions of the Act
(however, see the Notes).
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CUSIP Number: 26432F109
1. Name of Reporting Person
I.R.S. Identification No. of Above Person
RH Capital Associates, LLC
2. Check the Appropriate Box if a Member of a Group
a.
b.
3. SEC Use Only
4. Citizenship or Place of Organization
United States
Number of Shares Beneficially Owned by Each Reporting Person
With:
5. Sole Voting Power:
6. Shared Voting Power:
182,700
7. Sole Dispositive Power:
8. Shared Dispositive Power:
182,700
9. Aggregate Amount Beneficially Owned by Each Reporting
Person
182,700
10. Check Box if the Aggregate Amount in Row (9) Excludes
Certain Shares
11. Percent of Class Represented by Amount in Row (9)
3.9%
12. Type of Reporting Person
OO
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CUSIP Number: 26432F109
1. Name of Reporting Person
I.R.S. Identification No. of Above Person
Robert Horwitz
2. Check the Appropriate Box if a Member of a Group
a.
b.
3. SEC Use Only
4. Citizenship or Place of Organization
United States
Number of Shares Beneficially Owned by Each Reporting Person
With:
5. Sole Voting Power:
13,600
6. Shared Voting Power:
182,700
7. Sole Dispositive Power:
13,600
8. Shared Dispositive Power:
182,700
9. Aggregate Amount Beneficially Owned by Each Reporting
Person
196,300
10. Check Box if the Aggregate Amount in Row (9) Excludes
Certain Shares
11. Percent of Class Represented by Amount in Row (9)
4.2%
12. Type of Reporting Person
IN
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Item 1(a) Name of Issuer: Duff & Phelps (the "Company")
(b) Address of Issuer's Principal Executive Offices:
55 East Monroe Street
35th Floor
Chicago, Illinois 60603
Item 2(a) - (c). Name, Principal Business Address, and
Citizenship of Persons Filing:
Robert Horwitz
RH Capital Associates, LLC
55 Harristown Road
Glen Rock, New Jersey 07452
Robert Horwitz - United States Citizen
RH Capital Associates, LLC - Delaware Limited
Liability Company
(d) Title of Class of Securities: Common Stock
(e) CUSIP Number: 26432F109
Item 3. If this statement is filed pursuant to Rule
13d-1(b)(1) or 13d-2(b) or (c) check whether the person
filing is:
(a) / / Broker or dealer registered under Section 15 of
the Act,
(b) / / Bank as defined in Section 3(a)(6) of the Act,
(c) / / Insurance Company as defined in
Section 3(a)(19) of the Act,
(d) / / Investment Company registered under Section 8
of the Investment Company Act,
(e) / / Investment Adviser registered under Section 203
of the Investment Advisers Act of 1940,
(f) / / Employee Benefit Plan, Pension Fund which is
subject to the provisions of the Employee
Retirement Income Security Act of 1974 or
Endowment Fund,
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(g) / / Parent Holding Company, in accordance with Rule
13d-1(b)(ii)(G),
(h) / / Savings association as defined in Section 3(b)
of the Federal Deposit Insurance Act,
(i) / / Church plan excluded from the definition of an
investment company under Section 3(c)(14) of
the Investment Company Act,
(j) / / Group, in accordance with Rule 13d-
1(b)(1)(ii)(H).
If this statement is filed pursuant to Rule 13d-1(c), check
this box. /X/
Item 4. Ownership.
(a) Amount Beneficially Owned: 182,700 shares
owned by RH Capital Associates, LLC; 196,300
shares owned by Robert Horwitz
(b) Percent of Class: 3.9% by RH Capital
Associates, LLC; 4.2% by Robert Horwitz
(c) RH Capital: 182,700 shares with shared power
to vote or to direct the vote; 0 shares with
sole power to vote or to direct the vote;
182,700 shares with shared power to dispose or
to direct the disposition of; 0 shares with the
sole power to dispose or to direct the
disposition of
Robert Horwitz: 182,700 shares with shared
power to vote or to direct the vote; 13,600
shares with sole power to vote or to direct the
vote; 182,700 shares with shared power to
dispose or to direct the disposition of; 13,600
shares with the sole power to dispose or to
direct the disposition of
Item 5. Ownership of Five Percent or Less of a Class.
As of the date hereof, Robert Horwitz has ceased to
be beneficial owners of more than five percent of the common
stock.
Item 6. Ownership of More than Five Percent on Behalf of
Another Person.
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Not Applicable
Item 7. Identification and Classification of the Subsidiary
Which Acquired the Security Being Reported by the Parent
Holding Company.
Not Applicable
Item 8. Identification and Classification of Members of the
Group.
Not Applicable
Item 9. Notice of Dissolution of the Group.
Not Applicable
Item 10.
Certification for Rule 13d-1(b): By signing below I
certify that, to the best of my knowledge and belief, the
securities referred to above were acquired and are held in
the ordinary course of business and were not acquired and
are not held for the purpose of or with the effect of
changing or influencing the control of the issuer of the
securities and were not acquired and are not held in
connection with or as a participant in any transaction
having that purpose or effect.
Certification for Rule 13d-1(c): By signing below I
certify that, to the best of my knowledge and belief, the
securities referred to above were not acquired and are not
held for the purpose of or with the effect of changing or
influencing the control of the issuer of the securities and
were not acquired and are not held in connection with or as
a participant in any transaction having that purpose or
effect.
After reasonable inquiry and to the best of my
knowledge and belief, I certify that the information set
forth in this statement is true, complete and correct.
/s/ Robert Horwitz February 14, 2000
_________________________ ___________________
ROBERT HORWITZ Date
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AGREEMENT
The undersigned agree that this Schedule 13G dated
February 14, 2000 relating to the Common Stock of Duff & Phelps
Credit shall be filed on behalf of the undersigned.
RH CAPITAL ASSOCIATES, LLC
By: /s/ Robert Horwitz
_________________________
Robert Horwitz,
Managing Member
/s/ Robert Horwitz
_________________________
Robert Horwitz
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42255001.AG1
