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HEAT oil in large nonstick skillet on medium-high heat. Add chicken; cover. Cook 4 min. on each side or until cooked through (165°F).
REMOVE chicken from skillet; cover to keep warm. Add water, salsa and corn to skillet; mix well. Bring to boil.
STIR in rice. Reduce heat to low; cover. Simmer 5 min. Top rice mixture with the chicken; sprinkle with cheese. Cover; simmer an additional 5 min. or until cheese is melted.