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DUFF & PHELPS: MBNA MASTER CREDIT CARD TRUST SERIES 1993-2 $1.0 BILLION FLOATING RATE ASSET-BACKED CERTIFICATES RATED 'AAA'

 CHICAGO, June 16 /PRNewswire/ -- Duff & Phelps Credit Rating Co. has assigned the MBNA Master Credit Card Trust 1993-2 floating rate asset- backed certificates a rating of `AAA' (Triple-A). The securities have a coupon rate equal to 0.15 percent over one-month LIBOR. However the interest rate will be no higher than 12 percent per annum. Interest payments will be made on the 15th day of each month beginning on August 16, 1993. Certificateholders will receive interest-only payments during the revolving period, with principal payments commencing in February 1996 or earlier upon the occurrence of a "Pay Out Event". The trust consists of approximately $4.812 billion of receivables from MBNA America Bank, N.A. consumer revolving credit card accounts. The receivables consist of standard and premium VISA and MasterCard charge account balances originated and serviced by MBNA America Bank, N.A.
 Our `AAA' rating is based on the credit quality of the receivables, the legal structure of the transaction, the servicing capabilities of MBNA America Bank, N.A. and the 12 percent ($120,000,000) cash collateral account. Duff & Phelps performed an analysis of the projected cash flows under various economic scenarios stressing projected yields, payment and purchase patterns, and charge-off rates. The results of these analyses showed the cash collateral amount is sufficient to cover potential decreases in yield and/or increases in charge-offs and the resulting cash flow shortfalls.
 MBNA America Bank, N.A. has sold a portion of its credit card portfolio to the MBNA Master Credit Card Trust which has issued these certificates. The Series 1993-2 certificates are the sixth series of certificates to be issued from this master trust. Credit support against possible losses is provided for the Series 1993-2 certificates by a cash collateral account in an amount equal to 12 percent of the principal amount of the certificates. Duff & Phelps rates MBNA Master Credit Card Trust Series 1991-1, Series 1992-1, Series 1992-2, Series 1992-3, and Series 1993-1 each `AAA' (Triple A). The ratings of the 1991-1, 1992-1, 1992-2, 1992-3, and 1993-1 certificates are reaffirmed with the concurrent issuance of the Series 1993-2 certificates.
 The MBNA America Bank, N.A.'s portfolio of accounts, from which the receivables for the Master Trust were selected, is of high quality, with current gross charge-offs of approximately 3.75 percent (annualized) as of March 31, 1993. The pooled accounts are all at least 6 months old and have an average principal balance of $1,300. The average age of the accounts is 38.7 months. The three states with the highest concentration of account balances are California (15.3 percent), Texas (6.6 percent), and New York (6.4 percent).
 -0- 6/16/93
 /CONTACT: Laura M. Ladewski of Duff & Phelps Credit Rating Co., 312-368-3186/


CO: MBNA America Bank, N.A. ST: IN: FIN SU: RTG

TM -- NY063 -- 2744 06/16/93 16:17 EDT
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Date:Jun 16, 1993
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