Italian Company Finmeccanica is the parent company of the two rail transportation firms that make up Ansaldo Honolulu. Ansaldo is the company that had been given a $1.4 billion contract to build the train cars for the Honolulu Rail Project and maintain the rail system. Recently, it was announced that Finmeccanica had been given a BBB- credit rating by Fitch Ratings, which is just one step above junk-bond status. Finmeccanica has a large amount of debt and has been talking about significant restructuring for over a year.
Members of the Honolulu Authority for Rapid Transportation (HART) have expressed their concerns and wanted some assurances from Finmeccanica that things would progress as planned and that Finmeccanica would not sell Ansaldo to a third party. Finmeccanica assured the city that their restructuring does not currently include Ansaldo.
Source: Honolulu Star Advertiser, 11-19-2012, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
