HEAT oil in large nonstick skillet on medium-high heat. Add chicken; cook 4 min. on each side or until cooked through (170°F). Remove chicken from skillet, reserving drippings in skillet; cover chicken to keep warm.
ADD water, vegetables and salsa to drippings in skillet; stir. Bring to boil.
STIR in rice. Reduce heat to low; cover. Simmer 5 min. Top with the chicken; sprinkle with cheese. Cover; cook 5 min. or until cheese is melted.