public class LendingRates
{
    public List<BLRate> GetLendingRates()
    {        
         
        . . . 
         
        List<DLRate> ldlr = dlObject.GetLendingRates(date);

        List<BLRate> lblr = ldar.ConvertAll(new Converter<DLRate, BLRate>(RateToRateConverterMethod)); 
        return lblr
    }       
 
    . . .         
 
    public static BLRate RateToRateConverterMethod(DLRate dr)
    {
        return new BLRate(dr.Name, dr.Value);
     
    }
}

http://msdn.microsoft.com/en-us/library/73fe8cwf(VS.80).aspx

This technique can convert a list of one type into a list of another in a single line given and instance to instance conversion method to be passed to the delegate constructor.

Generic Convert

C#