Posted on: Tuesday, January 11, 2005
BUSINESS BRIEFS
Credit rating of Bankoh raised
Advertiser Staff
Fitch Ratings yesterday 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. A- is the seventh-highest credit rating assigned by Fitch.
The Hawaii Venture Capital Association yesterday announced that Kona Blue Water Farms and Science and Technology International would receive its Venture Capital Deal of the Year award at a January luncheon.
The association also will acknowledge Assist Guide, Hawaii Biotech, Hoana Medical, Hoku Scientific, Pipelinefx, and Worldwide Energy Group for raising nearly $20 million in capital last year.
The luncheon will be 11:30 a.m. to 1:30 p.m. Jan. 27 at the Plaza Club, 900 Fort Street Mall. For reservations, call 262-7329 by Jan. 26. The cost is $35 ($25 for HVCA, UH Angels and Hawaii High Technology Trade Association members).
Halekulani's La Mer restaurant has received the Automobile Association of America's Five Diamond award for dining. It is the 15th consecutive year the restaurant has been given the AAA's highest rating.
La Mer is the only Five Diamond restaurant in Hawai'i.
Hawai'i is one of 48 states that will share in a $40 million settlement with State Farm Mutual Insurance Co. over the company's handling of titles to vehicles totaled in accidents.
About 30,000 policy-holders nationwide may be eligible for payments ranging from $400 to $10,000, depending on the value of their vehicle, officials said. Most payments are expected to be between $800 and $1,850.
Consumers eligible for compensation will be contacted by their home state attorney general's office by the fall.
Venture capital deal applauded
Five diamonds again for La Mer
Isle settlements from State Farm
