Hawaiian Electric Industries shares are trading lower after the S&P downgraded the company to junk amid wildfires in Hawaii. The company is facing scrutiny for not shutting off power to reduce fire risks.
Portfolio Pulse from Benzinga Newsdesk
Hawaiian Electric Industries' shares are trading lower following a downgrade by S&P to junk status due to wildfires in Hawaii. The company is under scrutiny for not shutting off power to mitigate fire risks.
August 15, 2023 | 3:39 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Hawaiian Electric Industries' stock is trading lower after being downgraded to junk by S&P due to wildfires in Hawaii.
The downgrade by S&P is a significant negative event for Hawaiian Electric Industries. It indicates a lack of confidence in the company's financial stability, which is likely to deter investors and drive the stock price down in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100