Merrill Lynch & Co. continued to outpace the 1992 underwriting champion -- Goldman, Sachs & Co. -- and retained its standing as the top-ranked underwriter of long-term municipal debt during the first half of 1993, according to Securities Data Co.

As the premier securities underwriter, Merrill was lead manager of 211 issues totaling $18.51 billion and earning a 12.9% market share.

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