UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549

SCHEDULE 13G
Under the Securities Exchange Act of 1934

Amendment No.:  1

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, 1997

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).








CUSIP Number:  26432F109

1.  Name of Reporting Person
    I.R.S. Identification No. of Above Person

         RH Capital Associates LLC
         Tax ID#:  22-3033645

2.  Check the Appropriate Box if a Member of a Group
         a.   
         b.   

3.  SEC Use Only


4.  Citizenship or Place of Organization
         Managing member is a U.S. citizen

Number of Shares Beneficially Owned by Each Reporting Person
With:

5.  Sole Voting Power:
         

6.  Shared Voting Power:
         

7.  Sole Dispositive Power:
         

8.  Shared Dispositive Power:
         299,800

9.  Aggregate Amount Beneficially Owned by Each Reporting
Person
         299,800

10. Check Box if the Aggregate Amount in Row (9) Excludes
    Certain Shares

11. Percent of Class Represented by Amount in Row (9)
          6.1%

12. Type of Reporting Person
          00






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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:

          The principal address of RH Capital Associates LLC
          ("RHC"), a limited liability company of which
          Robert Horwitz is managing member, is 55
          Harristown Road, Glen Rock, New Jersey 07452

    (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,

    (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,



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    (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:  299,800
         (b) Percent of Class:  6.1%
         (c) 299,800 shares with shared power to vote or to
direct the vote; 299,800 shares with shared power to dispose
or to direct the disposition of.

Item 5.  Ownership of Five Percent or Less of a Class.

         Not Applicable

Item 6.  Ownership of More than Five Percent on Behalf of
Another Person.

         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.

____________________

*   The person filing this Schedule 13G will be filing as a
    Passive Investor under the new rules in effect as of
    February 17, 1998.


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    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.



    RH Capital Associates

By: /s/ Robert Horwitz                      March 3, 1998
    _________________________               ___________________
    Title:                                  Date
   




















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