BUSINESS BRIEFS
SBA offers seminars next month
Advertiser Staff and News Services
The U.S. Small Business Administration will hold three "resource days" next month to help small businesses during these uncertain economic times.
The free, confidential consultations will be tailored to the concerns and needs of each business owner. SBA staff will explain the agency's guaranteed loans, government contracting certifications, business development opportunities, and other sources for training, counseling, planning and technical assistance.
The sessions:
Reservations are recommended for the 30-minute appointments. Registration also is available at www.sba.gov/hi.
RATINGS ON QUIKSILVER DOWNGRADED
Standard & Poor's Ratings Services lowered its corporate credit rating on Quiksilver, the surfwear apparel maker and retailer that operates retail shops in Hawai'i and elsewhere.
The agency lowered ratings to B+ from BB- and reduced the rating on the Huntington Beach, Calif.-based company's $400 million senior unsecured notes due 2015 to B1 from B. All of the ratings are below investment grade.
"The ratings downgrade reflects Quiksilver's continued weak credit measures, and our uncertainty regarding the company's ability to improve operating performance, given the current challenging economic and retail environment," S&P analyst Susan H. Ding said.
Quiksilver shares rose 2 cents to $1.22 in trading Wednesday.
YOGEN FRUZ OPENING 5 O'AHU STORES
Canada-based Yogen Fruz said its signed a development agreement that will allow TRMOP LLC to open seven new stores, at least five of which will be on O'ahu. Downtown Honolulu, the 'Aiea/Pearl City area, and East O'ahu are being targeted for the first Hawai'i stores featuring the frozen yogurt and smoothie offerings.
TRMOP LLC will call upon its extensive experience in supply/logistics, customer service and administration, and financial management and economic analysis to open and manage each location to success, said Yogen Fruz.
"Yogen Fruz expects to capture the business of local residents — as well as tourists — in the state of Hawai'i with our unique blending system, which combines delicious and nutritious frozen yogurt and fruit," Aaron Serruya, co-founder of Yogen Fruz, said on the company's Web site.
"This is one of many recent development agreements that Yogen Fruz has entered into as part of our U.S. expansion efforts and is a great step for the franchise as a whole."
Founded in 1986, Yogen Fruz has grown with more than 1,100 locations operating in 20 countries around the world.
GREAT NORTHWEST GETS BB- RATING
Standard & Poor's Ratings Services has placed a BB- financial strength rating on Great Northwest Insurance Co., a Minnesota-based insurer that has a Hawai'i tie through its acquisition of Honolulu-based Hawaiian Insurance & Guaranty Co. Ltd. two years ago.
Standard & Poor's said the rating reflects is views on Great Northwest's capital management plans, capital adequacy and underwriting performance. The ratings agency noted Great Northwest's surplus had dropped and that its expense ratio had risen compared with a year earlier.
