CFO Dorothy Puhy: Keeping Dana-Farber at the Top of Investment Grade
Moody's Investors Service recently affirmed the A1 ratings on Dana-Farber's $283.6 million of debt, which is at the pinnacle of investment-grade level. Ms. Puhy and the financial team have placed Dana-Farber, which has been designated as a comprehensive cancer center by the National Cancer Institute, in a strong position to succeed, and its rating outlook remains stable.
Currently, Dana-Farber has a favorable market position in the Boston area and has strong clinical joint ventures with the other highly rated hospitals within Partners HealthCare System. Moody's analysts also said the recently completed Yawkey Center for Cancer Care is a major strength, and Ms. Puhy and the management team reported "no concrete near-term plans for additional direct debt."
Dana-Farber also has a well-managed pension plan and continued good performances in fundraisings, as it raised $1 billion in a capital campaign in fiscal year 2010, according to the report.
Prior to her current role at Dana-Farber, Ms. Puhy was CFO of Tufts Medical Center in Boston, formerly known as New England Medical Center, and she also was a senior manager at Ernst & Whinney before it became Ernst & Young.
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