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DISCOVER $366 MILLION CREDIT CARD TRUST, 1993-3 'AAA/A' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, Nov. 23 /PRNewswire/ -- Discover Card Master Trust I, series 1993-3 $350 million 6.2 percent class A credit card pass- through certificates are rated "AAA" by Fitch. The $16.5 million 6.45 percent class B credit card pass-through certificates are rated "A."
 The "AAA" rating on the class A certificates reflects the high quality of the receivables from Discover Card accounts, the credit enhancement totaling 7 percent of the initial invested amount, and the sound legal and financial structure. Credit enhancement is provided by the 4.5 percent subordination of the class B certificates and the 2.5 percent shared cash collateral account (CCA).
 Class B's "A" rating reflects the 4 percent credit enhancement provided by the 2.5 percent shared CCA and the 1.5 percent CCA available solely to support class B. Class B defaults may be covered by the amounts available in the shared CCA after class A requirements are met.
 Interest will be distributed on the 15th day of May and November, or the next business day, beginning May 15, 1994.
 The revolving period (interest only) should continue for nine years, until the end of October 2002. For the 12 months following the revolving period, it is expected that principal will be collected and held for distribution. The expected final payment date for class A is Nov. 15, 2003. After the class A certificateholders are paid, class B certificateholders will receive principal payments and are expected to be paid in full on Dec. 15, 2003. If an amortization event occurs, principal repayment to investors could be paid before or after these dates.
 Investors are protected from prolonged exposure to a deterioration in credit card performance and/or servicer default by the early amortization triggers. Additional investor protection against credit losses is provided by the overallocation of finance charge collections during amortization.
 Greenwood, which is an excellent servicer, will be responsible for servicing, managing, and making collections on the receivables.
 -0- 11/23/93
 /CONTACT: David R. Howard, 212-908-0677, or Gracen Fraser, 212-908-0520, both of Fitch/


CO: Discover Card ST: IN: FIN SU: RTG

MP -- NY069 -- 7396 11/23/93 16:14 EST
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Publication:PR Newswire
Date:Nov 23, 1993
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