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 $6,234,000.00 Pass-Through Certificates, Subordinate Mortgage Securities Trust 1994-C Adjustable Rate Subordinate Mortgage Securities
 NEW YORK, Dec. 28 /PRNewswire/ -- Duff & Phelps Credit Rating Co. has assigned a rating of 'AA' (Double A) to the publicly offered Class B-1 certificates issued by Greenwich Capital Acceptance, Inc.
 The certificates were issued pursuant to a trust agreement dated as of December 1, 1994, between Greenwich Capital Acceptance, Inc., as Depositor and Bankers Trust Company, as trustee. The certificates represent ownership interests in a trust fund, consisting of the Merrill Lynch Mortgage Investors, Inc., adjustable rate mortgage pass-through Certificates, Series 1988O, Class B (the "pooled certificate") issued pursuant to a pooling and servicing agreement, dated as of October 1, 1988, among Merrill Lynch Mortgage Investors, Inc., as the company, First Union Mortgage Corporation (as indirect successor by assumption of the master servicing from Merrill Lynch MBS, Inc.), as master servicer, and Bank of America National Trust and Savings Association (as successor by merger to Security Pacific National Bank), as trustee. The underlying trust fund consists primarily of a pool of conventional, adjustable-rate mortgage loans secured by first liens on one- to four- family residential properties. The aggregate outstanding principal balance of the mortgage loans as of December 27, 1994 was approximately $18,909,507 and the unpaid principal balance of the pooled certificate, after giving effect to the December 1994 distribution on the Series 1988O certificates, was approximately $6,895,065.
 The Class B-1 certificates are supported by private certificates which represent 10.46 percent of the pooled certificate balance and 3.5 percent of the mortgage loan balance. Losses on the underlying mortgage loans will be allocated to the Pooled Certificates prior to being allocated to the underlying senior certificates and will be allocated to the private certificates prior to being allocated to the Class B-1 certificates. Duff & Phelps Credit Rating Co.'s rating does not address the effect on the certificates, yield attributable to prepayments or recoveries on the underlying mortgage loans. Additionally, the rating addresses the likelihood that, despite potential interest shortfalls, investors in the class B-1 certificates will ultimately receive distributions of principal and interest to which they are entitled.
 -0- 12/28/94
 /CONTACT: Jennifer E. Schneider, 212-908-0207, Andrew B. Jones, 212-908-0205, both of Duff & Phelps Credit Rating Co./

CO: Greenwich Capital Acceptance, Inc. ST: New York IN: FIN SU: RTG

WB-LD -- NY025 -- 8717 12/28/94 17:42 EST
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Publication:PR Newswire
Date:Dec 28, 1994

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