Posted at 1:59 p.m., Monday, January 10, 2005
Business briefs
Advertiser Staff
Convention center secures bookingsA conference of meeting planners at the Hawai'i Convention Center has so far produced four future bookings at the center.
Four national and international organizations represented at the Professional Convention Management Association meeting today committed to holding events at the convention center, and officials say 11 more arrangements are in final negotiations.
The bookings resulted largely from a marketing pitch that offered PCMA meeting delegates free rent for events booked through 2010.
About 2,600 planners and suppliers are here to attend PCMA's 49th annual meeting, which began yesterday and continues through Wednesday. Officials estimate the event itself will raise $8.9 million in visitor spending and $741,000 in projected state tax revenue.
Bank of Hawaii's scores higher credit rating
Fitch Ratings today upgraded the long-term credit rating of Bank of Hawaii Corp. and its subsidiary Bank of Hawaii one notch to "A-" from "BBB+", citing a strengthening of the banks overall financial condition.
"BOH has steadily improved profitability and reduced the risk profile of the company. Furthermore, Fitch believes the company can sustain its current level of core profitability, as it is poised to benefit from an improving Hawaiian economy," Fitch said in a news release. An "A-" designation is the seventh highest credit rating assigned by Fitch.
