Hawaiian Electric Nosedives To Near 40-Year Lows Amid Maui Wildfire Scrutiny, Restructuring Reports
Portfolio Pulse from Piero Cingari
Hawaiian Electric Industries Inc. (NYSE:HE) stock has dropped by 15.34%, bringing the monthly decline to nearly 70%. The company is facing scrutiny over its involvement in the Maui wildfires and is reportedly in discussions with restructuring advisory firms to address its financial and legal challenges. S&P Global Ratings has downgraded Hawaiian Electric to junk status “BB-” and placed it under further watch for potential downgrades.
August 17, 2023 | 8:25 pm
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Hawaiian Electric's stock has seen a significant drop due to concerns over its involvement in the Maui wildfires and potential restructuring. The company's credit rating has been downgraded by S&P.
The company's stock has dropped significantly due to concerns over its involvement in the Maui wildfires and potential restructuring. This has led to a downgrade in its credit rating by S&P, which could further impact the company's stock price.
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