UPDATE 1-S&P downgrades Hawaiian Electric to 'B-' as wildfires raise market-access worries

S&P Global Ratings has downgraded Hawaiian Electric Industries and its subsidiaries due to the company's likely inconsistent access to capital markets following the Maui wildfires, which may result in adverse developments regarding its debt service capacity.

yahoo.com

Relevant topic timeline:

8/22/2023

S&P downgrades multiple U.S. banks citing 'tough' operating conditions

S&P Global has downgraded credit ratings and revised outlooks for multiple U.S. banks, citing funding risks and weaker profitability as factors that will test the sector's credit strength.

8/27/2023

Maui's outdated bare electrical wires and leaning poles caused...

The Maui fires were caused by bare and uninsulated power lines left by Hawaiian Electric Co., which failed to cover up or bury their lines like other utilities in wildfire- and hurricane-prone areas, resulting in a spate of lawsuits and criticism of the utility's negligence.

8/28/2023

Hawaiian Electric calls Maui county's wildfire lawsuit 'irresponsible'

Hawaiian Electric's shares surged 30.2% after the company called the lawsuit filed against it by the county of Maui "factually and legally irresponsible," blaming the county for the Hawaii wildfires.