Hawaii Pacific Health rating upgraded

Moody's Investors Service has upgraded Hawaii Pacific Health's bond rating to an A3 from Baa1.

The health care provider is the parent organization of four nonprofit hospitals—Kapiolani Medical Center for Women & Children, Kapiolani Medical Center at Pali Momi, Straub Clinic & Hospital and Wilcox Memorial Hospital—three medical groups, and 44 outpatient clinics and service sites.

Hawaii Pacific Health said the higher rating was the result of four consecutive years of improved, positive operating performance and the resolution of several debt structure issues. Moody's said Hawaii Pacific Health was on a path to the A rating category immediately before the financial crisis.

“;We are pleased to see our financial improvements recognized and attribute the improvement to many factors, including improved balance sheet strength, solid operating performance, a commitment to clinical quality and service excellence, a seasoned management team, and the successful implementation of our Electronic Medical Records system that supports changing how health care is provided in our communities to improve quality and lower cost,”; said David Okabe, chief financial officer of Hawaii Pacific Health.

Factory orders, new-home sales up

WASHINGTON » The economic recovery got a lift in April as orders for large manufactured goods surged while sales of new homes benefited from homebuyer tax credits.

Manufacturing is helping drive the rebound. But some economists worry about the threat posed to U.S. exports from the widening debt crisis in Europe. And some fear that home sales will falter in coming months because the tax breaks for buyers have expired.

Demand for commercial aircraft lifted orders for durable goods 2.9 percent last month. That was the best showing in three months. A separate report showed sales of new single-family homes jumped 14.8 percent in April. That gain followed a 29.8 percent surge in March, the biggest monthly increase in 47 years.

AIG in better shape to repay bailout

WASHINGTON » Insurance giant American International Group Inc. is better positioned to pay back all of its $182 billion federal bailout, a key Treasury official testified yesterday. But AIG's ability to repay taxpayers depends on its future profitability and the insurance industry's strength, Treasury chief restructuring officer Jim Millstein said. He said AIG must complete the planned sales of two large insurance subsidiaries and regain the market's confidence.

Disney workers charged in trade plot

NEW YORK » An assistant to a top executive at Walt Disney Co. was arrested yesterday along with her boyfriend on charges that they offered to sell secrets about the company's financial picture to investment companies, authorities said.

Bonnie Hoxie, 33, who had been a secretary to Disney's head of corporate communications, was accused of conspiracy and wire fraud along with Yonni Sebbag, 29, also known as Jonathan Cyrus.

Star-Bulletin staff and news services

On the move

» Women's Fund of Hawaii has appointed Barbara Watanabe as executive director. She was previously executive director of the Nisei Veterans Memorial Center project on Maui as well as having worked for high-tech software companies in Seattle and Silicon Valley.

» The Shops at Mauna Lani has announced Micki Marston as property manager. She was previously a management executive for Hawaiiana Management Co. as well as property manager for Colliers International.

» Coldwell Banker Pacific Properties Realtor Patrick De Silva Jr. has received his CRS designation from the National Association of Realtors. Fewer than 5 percent of Realtors on Oahu have this designation.

» Colonial Life and Accident Insurance Co. has named John Kato as district general agent for the Hawaii district. He was previously a general sales manager for Cutter Automotive Title.

» Bella Pietra has hired Kareem Lamb as operations manager. He has more than 14 years of experience in transportation, purchasing and inventory control and was previously a dock supervisor at Roadway Express in Philadelphia.