Exhibit 99(g)(2)
INDEPENDENT AUDITORS' REPORT
The Board of Directors and Shareholders, Merrill Lynch Senior Floating Rate Fund, Inc.:
We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of
Merrill Lynch Senior Floating Rate Fund, Inc. as of August 31, 1997, the related statements of operations and
cash flows for the year then ended, the statements of changes in net assets for each of the years in the two-year
period then ended, and the financial highlights for each of the years in the five-year period then ended. These
financial statements and the financial highlights are the responsibility of the Fund's management. Our responsibility
is to express an opinion on these financial statements and the financial highlights based on our audits.
We conducted our audits in accordance with generally accepted auditing standards. Those standards require that
we plan and perform the audit to obtain reasonable assurance about whether the financial statements and the
financial highlights are free of material misstatement. An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the financial statements. Our procedures included confirmation of
securities owned at August 31, 1997 by correspondence with the custodian and financial intermediaries. An audit
also includes assessing the accounting principles used and significant estimates made by management, as well as
evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for
our opinion.
In our opinion, such financial statements and financial highlights present fairly, in all material respects, the financial
position of Merrill Lynch Senior Floating Rate Fund, Inc. as of August 31, 1997, the results of its operations, its
cash flows, the changes in its net assets, and the financial highlights for the respective stated periods in conformity
with generally accepted accounting principles.
Deloitte & Touche LL