Philadelphia Mayor Appoints Rhynhart as Debt Manager

Philadelphia Mayor Michael Nutter yesterday appointed Rebecca Rhynhart, former managing director of the tax-exempt group in the global credit department of Bear, Stearns & Co., as the debt manager for the city.

The debt manager for Philadelphia is a new position in the finance department that Nutter created as part of his effort to promote fiscal responsibility and conscientious management of debt.

"Both Rebecca's deep experience in evaluating municipalities and corporate perspective will be a real asset to the city," Nutter said in a press release.

Rhynhart comes to Philadelphia from the New York City office of Bear Stearns where she managed a team that assessed the creditworthiness of municipalities and other not-for-profit, tax-exempt organizations. She also was a member of the global credit committee and responsible for briefing the chief risk officer and senior risk managers on potential risks in the organization's trading activity. Prior to Bear Stearns, Rhynhart worked as the director in the higher education and nonprofit group at Fitch Ratings.

The debt manager is responsible for the development and administration of debt policies for the city and its related agencies. Responsibilities include oversight of all activities related to the issuance of debt by the city.

Rhynhart, who grew up in Montgomery County, Pa., will start her new position on Monday.

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