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MERRILL LYNCH $31 MILLION EUROPEAN MITTS RATED 'AA' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, Jan. 3 /PRNewswire/ -- Merrill Lynch & Co.'s $31 million European Portfolio MITTS due June 30, 1999 are rated 'AA' by Fitch. The noncallable MITTS have a $10 par value and no coupon payment. The payment at maturity is based on the 'Closing Portfolio Value' relative to the initial portfolio value of $100, but will not be less than $9 for each $10 principal investment. The MITTS are senior obligations of the company and rank pari passu with all other senior obligations of Merrill Lynch.
 The rating reflects increased credit strength due to a more stable revenue base with higher fee income, tighter expense controls despite expanding business volumes, and more tightly controlled credit and market risk positions, including principal risk-taking activities. The credit trend is stable.
 -0- 1/3/94
 /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

LD -- NY064 -- 8646 01/03/94 17:14 EST
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Publication:PR Newswire
Date:Jan 3, 1994
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