Hawaiian Electric Reportedly In Discussion With Restructuring Experts Amid Maui Wildfire Fallout
Portfolio Pulse from Benzinga Neuro
Hawaiian Electric (OTC:HAWEL) is reportedly in discussions with restructuring specialists due to financial and legal challenges stemming from the Maui wildfires. The company faces plummeting stock and bond values and has been slapped with lawsuits accusing the company of intensifying the wildfire damage. S&P Global Ratings downgraded Hawaiian Electric's credit rating to junk, citing the significant loss of its customer base due to the wildfires and the impending lawsuits.

August 17, 2023 | 6:52 am
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Hawaiian Electric is facing financial and legal challenges due to the Maui wildfires, which have led to plummeting stock and bond values and a downgrade of its credit rating to junk by S&P Global Ratings.
The news of Hawaiian Electric's financial and legal challenges due to the Maui wildfires is directly impacting the company's stock and bond values. The company is also facing lawsuits accusing it of intensifying the wildfire damage. Furthermore, S&P Global Ratings has downgraded the company's credit rating to junk, citing the significant loss of its customer base due to the wildfires and the impending lawsuits. All these factors are likely to negatively impact the company's stock price in the short term.
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