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Top related persons:
Jonathan Reeder - 3 Wells - 2 Arunima Kumar - 2 Arun Koyyur - 2 Moody's - 1 Fitch - 1 Reeder - 1 Medha Singh - 1
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Maui Lahaina Honolulu Bengaluru Hawaii U.S American California
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Electric - 3 Hawaiian Electric Industries - 2 Thomson - 2 Maui - 1 REUTERS - 1 Moody's - 1 E Corp - 1 Mercy Worldwide - 1

Search resuls for: "Jonathan Reeder"


3 mentions found


☆ Hawaiian Electric shares sink on wildfire lawsuit, dividend pause, ratings cut
  + stars: | 2023-08-25 | by ( ) www.reuters.com   time to read: +2 min
Aug 25 (Reuters) - Hawaiian Electric shares (HE.N) on Friday plunged to their lowest level since 1984 as a lawsuit alleging negligence leading to Maui wildfires raised investor worries over the financial health of the utility that has paused dividend payout. "We are very disappointed that Maui County chose this litigious path while the investigation is still unfolding," the company told Reuters. S&P Global Ratings, meanwhile, initiated its second rating cut on the company and its units this month, to 'B-' from 'BB-'. Moody's and Fitch have also lowered Hawaiian Electric to junk status. Its shares have lost more than half of its market value since the Aug. 8 wildfire.
Persons: Wells, Jonathan Reeder, Moody's, Fitch, Reeder, Medha Singh, Arunima Kumar, Arun Koyyur Organizations: Electric, Maui, Reuters, Hawaiian Electric Industries, Thomson Locations: Maui, Honolulu, Lahaina, Bengaluru
☆ Hawaiian Electric's stock gains after it says goal not to restructure
  + stars: | 2023-08-18 | by ( Arunima Kumar Arshreet Singh | Arunima Kumar | Arshreet Singh | ) www.reuters.com   time to read: +3 min
Homes damaged by fire are seen in Lahaina on the island of Maui in Hawaii, U.S., August 14, 2023. The company said in its filing that shutting off power was not part of its high-wind management protocol. Analysts have said Hawaiian's situation is reminiscent of that of PG&E Corp (PCG.N) and wildfires in California. PG&E filed for bankruptcy protection in 2019, and subsequently restructured, citing potential liabilities exceeding $30 billion stemming from California wildfires that were blamed on its equipment. As of Thursday, about 1,900 customers in West Maui remained without electricity, Hawaiian said.
Persons: Jorge Garcia, Wells, Jonathan Reeder, Arshreet Singh, Arunima Kumar, Shreyashi Sanyal, Caroline Valetkevitch, Arun Koyyur, Josie Kao Organizations: REUTERS, Hawaiian Electric Industries, Electric, Moody's, E Corp, Thomson Locations: Lahaina, Maui, Hawaii, U.S, Honolulu, American, California, West Maui, Bengaluru, New York
☆ Hawaiian Electric shares drop 30% on concern about potential liability from Maui wildfires
  + stars: | 2023-08-14 | by ( Michelle Fox | ) www.cnbc.com   time to read: +1 min
A Mercy Worldwide volunteer makes damage assessment of charred apartment complex in the aftermath of a wildfire in Lahaina, western Maui, Hawaii on August 12, 2023. Shares of Hawaiian Electric tumbled more than 35% on Monday amid Wall Street concerns about the company's potential liability in the Maui wildfires. On Saturday, a class-action lawsuit was filed against the utility company, which oversees Maui Electric, that alleged the destruction "could have been avoided" if the company shut down its power lines before the high winds hit, NBC News reported. At least 96 people have died in what is now the deadliest U.S. wildfire in more than a century. Wells Fargo subsequently lowered its price target on the stock to $25 per share from $35 on Sunday.
Persons: Wells Fargo, Jonathan Reeder Organizations: Mercy Worldwide, Electric, Maui Electric, NBC News, & $ Locations: Lahaina, Maui, Hawaii, CA
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