Fitch upgrades Hawaii Electric

Fitch Ratings said it said it upgraded Hawaiian Electric Industries, Inc.'s (HEI) long-term issuer default rating to BBB+ from BBB and Hawaiian Electric Co., Inc.'s (HECO) long-term IDR to A- from BBB+.

The outlooks are stable following the upgrades.

“The upgrade of HEI and HECO reflects strong credit metrics above positive rating sensitivities, which are expected to be maintained over Fitch's forecast period. In addition, the upgrade is supported by a more predictable regulatory construct in Hawaii implemented in 2021 that provides a well-defined framework within which the company can manage its capital investments and O&M. HEI's metrics are also supported by a stable dividend from HEI's ownership of American Savings Bank (ASB; BBB/stable),” Fitch said in a press release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.