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Stradling Celebrates Topping California Table for Number of Deals - The Bond Buyer Stradling was able to increase its deal volume and amount during another year when supply continued to decline in the overall muni market. Total volume dropped 12.5% to $334.6 billion in 2013, largely driven by a 29.1% drop in refundings. Among cities and counties in California, the appetite for new general fund debt is still somewhat muted, but special revenue debt in areas like water, sewer and convention centers is still moving ahead, Whalen said. "I'd say there's still a caution on the part of the general fund issuers in taking on a lot of new debt," he said. "There's a great deal of concern about the increasing cost of pensions as a percentage of budgets, so they're having to balance that with capital needs." Looking ahead, the firm said it expects another successful year, with continued strength in California, as well as growth from its recently opened Nevada office. Stradling, founded in Newport Beach in 1975, has more than 100 attorneys in seven offices across California and Nevada.
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http://www.bondbuyer.com/issues/123_62/stradling-celebrates-topping-california-table-for-number-of-de... 3/31/2014