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DLR Ranked
Among Top
Ten U.S. Underwriters
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DE LA ROSA
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De La Rosa & Co. has reached
the top ten of U.S. underwriters. According to Thomson Reuters, De La Rosa
ranked 10th from April to June, and 13th during the first six months of the
year. DLR increased its mid-year volume to $2.46 billion, a 61.9% increase over
the same period in 2009, the news service reported.
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Founder and President Edward J. De La Rosa attributes the firm’s growth to an
unwavering focus on DLR issuers’ and investors’ needs. “We are honored to reach
this new milestone, ” De La Rosa said. “It reflects their trust in our ability
to price and sell California bonds, both institutionally and retail.”
In early May, DLR was one of three lead underwriters (with JPMorgan and Morgan
Stanley) for a $2.97-billion issuance from the California Department of Water
Resources.
“We’re happy when our volume goes up, of course,” De La Rosa told The Bond
Buyer newspaper, “but those large transactions go hand in hand with all of the
city, redevelopment agency, school district, and housing deals that we do. It’s
all a function of the fact that we focus on this California market.”
DLR has ranked among the top California underwriters for years, but is only the
second minority-owned firm to break into the national Top Ten, according to
data going back to 1990.
Bond Buyer Article >>>
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DLR awards 22 scholarships
in
2010 Fabric of Society contest
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De La Rosa & Co. has awarded
$2,000 scholarships to 22 high school essayists in this year’s Fabric of
Society competition. Nearly 200 seniors from participating schools across
California submitted essays based on cyclist Lance Armstrong’s observation
that, “Pain is temporary. Quitting lasts forever.”
DLR President Edward J. De La Rosa said the responses reflect
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the broad range of challenges that
a new generation of Californians is facing, from launching new technologies to
helping an illiterate parent navigate urban life.
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JERRY WEST
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Los
Angeles Lakers legend Jerry West, one of four guest judges in the competition,
called the essays "a testament to the will of true champions, who have found
ways to overcome obstacles and, in the process, to emerge stronger than
before."
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More >>>
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The following op-ed by Paul Rosenstiel appeared in The Bond Buyer on July 26,
2010:
Budget Deficits Need
Not Imperil Debt Service
News in The Bond Buyer that a few
small issuers used reserve funds or bond insurance to pay debt service adds to
concerns that a big-name issuer struggling with budget problems may be next.
Then it would
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be news in the general press, which
might lead safety conscious investors to question whether they should own
municipal bonds.
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ROSENSTIEL
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But fiscal
stress doesn't mean default is on the way. Instead, it often means that issuers
prepare to make sure that default is the last consequence of fiscal stress.
California is a good example. The economic downturn has taken its toll on state
budgets, and California is no exception. It must plug a $19 billion deficit,
and has started the new fiscal year without a budget agreement. Yet, without
downplaying the challenges, it's useful to review the steps California has
taken and the tools it has to manage its finances until it gets a budget.
Complete Story
>>>
Moving to Better
Serve Northern California
De la Rosa & Co. has outgrown our old San Francisco office and moved to
larger quarters in the Financial District.
Please note our new address:
456 Montgomery St., 19th Floor
San Francisco, CA 94104
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