Business briefs

Advertiser Staff

Bankoh financial rating upgraded

Standard & Poor's Ratings Services has changed its outlook for Bank of Hawaii Corp. to "positive" from "stable."

The ratings service, which analyzes public companies' financial prospects, said the bank's results have "greatly improved" since a major restructuring and downsizing began in 2001. Standard & Poor's cited lower levels of credit risk, fewer nonperforming assets and rebounding profitability.

Starbucks plans first drive-thru

Starbucks will open its first drive-through store in Hawai'i in mid-April in Hilo. Coffee Partners Hawai'i, the operator of Starbucks in the state, said the 2,000-square-foot store will be its largest in the state.

Starbucks entered Hawai'i in 1996 and has 34 stores in the state and employs 600.

Penney opens catalog centers

J.C. Penney Inc., which closed its Hawai'i stores this year, said it has opened catalog service centers in 12 Ace Hardware Corp. stores in the state. J.C. Penney catalog customers can place and pick up orders at the hardware stores. They can also pay JCPenney credit card bills.