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S&P downgrades Hawaiian Electric to 'B-' as wildfires raise market-access worries

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(Reuters) -The S&P Global Ratings on Thursday downgraded Hawaiian Electric Industries and all of its rated subsidiaries to 'B-' from 'BB-', citing the ...

STORY CONTINUES BELOW THESE SALTWIRE VIDEOS -The S&P Global Ratings on Thursday downgraded Hawaiian Electric Industries and all of its rated subsidiaries to 'B-' from 'BB-', citing the company's likely inconsistent access to the capital markets in the aftermath of the recent Maui wildfires.

S&P said it views the Honolulu-based company's engagement with financial advisors related to scenario planning as indication of the potential for adverse developments regarding its debt service capacity in the future. "As the fatalities continue to rise, pressure is likely to increase on all stakeholders, including HEI," it said.

 

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