Hawaiian Telcom downgraded
Moody's Investors Service said yesterday it has downgraded the corporate family rating of Hawaiian Telcom Communications Inc.
to Caa2 from B3, and the company's probability of default rating to Caa3 from Caa1. Moody's also downgraded the ratings for the company's senior unsecured and senior subordinated notes to Caa3 and C, respectively.
The ratings, which remain under review for further downgrade, were prompted by a Tuesday announcement that the company will organize its bondholders to participate in balance sheet restructuring options.
Hawaii to receive energy aid
The U.S. Department of Health and Human Services said yesterday that Hawaii will be given $103,531 in emergency energy assistance. The funds from the federal government's Low Income Home Energy Assistance Program will provide states, territories, tribal areas and the District of Columbia with heating assistance for the upcoming winter months. The funding is administered to states to assist eligible low-income households in meeting their heating, insulation or cooling needs.
A total of $121 million is being released nationally. For more information, visit www.acf.hhs.gov/programs/liheap.
Isle resident in Forbes richest
Pierre Omidyar, who launched online auction Web site eBay Inc.
in 1995, was the only Hawaii resident to make the annual Forbes
400 Richest People in America list, released yesterday. Omidyar, 41, came in at 54th in 2007 with a net worth of $6.3 billion. He lives in Honolulu and has invested in Maui Land & Pineapple Co.
Microsoft Corp. co-founder Bill Gates remained the richest person in the U.S. for the 15th straight year, followed by Berkshire Hathaway Inc. Chairman Warren Buffett.
|1. Bill Gates
|2. Warren Buffett
|3. Lawrence Ellison
|4. Jim C. Walton
|5. S. Robson Walton
|6. Christy Walton
| Alice Walton
|8. Michael Bloomberg
|9. Charles Koch
| David Koch