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

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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Maui County sues Hawaiian Electric Company for negligence over Lahaina firesMaui County sued Hawaiian Electric Company on Thursday over the fires that devastated the town of Lahaina, saying the utility negligently failed to shut off power despite exceptionally high winds and dry conditions.
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