New York, August 21, 2015 -- Moody's today revised Hawaiian Electric Industries' (HEI) and its utility subsidiary Hawaiian Electric Company (HECO)'s rating outlook to negative from stable due to concerns about the execution risk inherent in transforming its oil-dominated generation base to renewables. The ratings of HEI and HECO are affirmed at Prime-2 short-term rating for commercial paper and Baa1 Issuer Rating, respectively. The rating and outlook of HEI's bank subsidiary, American Savings Bank (Baa1 stable), is unaffected by today's action. We continue to evaluate HEI and HECO on a standalone basis, despite HEI's pending merger with NextEra Energy, Inc. (Baa1 stable). If the merger is successful, we could reevaluate HEI and HECO's ratings and outlooks upon closing.

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