Maui bond rating lowered

Advertiser Staff

Standard & Poor's downgraded its outlook on Maui County's outstanding general obligation bonds from stable to negative.

"The outlook revision to negative reflects the recent declines in both total and unreserved general fund balances, which have decreased overall financial flexibility, despite healthy recent increases in general fund revenues," said S&P credit analyst Rob Williams.

S&P also assigned its "AA-" rating and negative outlook to Maui's 2004 general bonds.

Williams said if Maui doesn't raise its general fund, the rating could fall further

Employers look to hire more

Honolulu employers expect to hire more workers during the second quarter, but companies will be more conservative than in the first quarter, the Manpower Employment Outlook Survey found.

Twenty-seven percent of companies interviewed said they plan to expand hiring from April through June, 7 percent intend to reduce their workforce and 63 percent expect to maintain current staff levels, Manpower reported.

Job opportunities appear brightest in construction, transportation/public utilities, education and services.