Printer Friendly

MERRILL LYNCH $150 MILLION NOTES RATED 'AA-' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, April 1 /PRNewswire/ -- Merrill Lynch & Co.'s $150 million 7.05 percent senior notes due April 15, 2003 are rated `AA-' by Fitch. The notes are callable after five years. The credit trend is stable.
 The rating reflects increased evidence of improving credit strength due to a more stable revenue base with increased fee income, tighter expense control despite expanding business volumes, reduced principal risk taking activities, and more tightly controlled credit and market risk positions.
 Merrill Lynch continues to report strong earnings across all business lines. The company's 1992 net earnings were a record $893.8 million, including $85.6 million of accounting changes, which represented a 28 percent increase from 1991. While earnings are not necessarily sustainable at these levels, they should be better protected from market activity declines.
 Merrill Lynch continues to maintain substantial liquidity at the parent company as well as its operating subsidiaries. Term funding maturities have been lengthened and liquidity is well managed while leverage has been controlled.
 -0- 4/1/93
 /CONTACT: Teri L. Seelig, 212-908-0638 or Nancy E. Stroker, CFA, 212-908-0533, both of Fitch/
 (MER)


CO: Merrill Lynch & Co. ST: New York IN: FIN SU: RTG

WB -- NY123 -- 2287 04/01/93 17:48 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 1, 1993
Words:205
Previous Article:BONE HEALTH INC. WARRANTS EXTENDED TO SEPT. 30, 1993
Next Article:IPALCO ENTERPRISES ISSUES STATEMENT ON OFFER TO PURCHASE PSI RESOURCES
Topics:


Related Articles
MERRILL LYNCH $300 MILLION 8.25 PERCENT SENIOR NOTES RATED
MERRILL LYNCH $225 MILLION 8 PERCENT NOTE OFFERING RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --
MERRILL LYNCH $425 MILLION NOTES RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --
MERRILL LYNCH $300 MILLION 6.75 PERCENT NOTES RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --
MERRILL LYNCH $150 MILLION 8.3 PERCENT NOTES RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --
MERRILL LYNCH $150 MILLION 8 PERCENT NOTES DUE 2007 RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --
MERRILL LYNCH $300 MILLION NOTES RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --
MERRILL LYNCH $150 MILLION 7-3/8 PERCENT SENIOR NOTES RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --
MERRILL LYNCH $150 MILLION 6.25 PERCENT SENIOR NOTES 'AA' BY FITCH -- FITCH FINANCIAL WIRE --
Merrill Lynch $150M Euro MTNs Rated 'AA' by Fitch -- FITCH FINANCIAL WIRE --

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters