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Hawaiian Electric raises going concern doubts over wildfire settlement financing
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Hawaiian Electric raises going concern doubts over wildfire settlement financing
Aug 9, 2024 2:06 PM

Aug 9 (Reuters) - Utility firm Hawaiian Electric

raised going concern doubts on Friday after it revealed that it

does not have a financing plan for the $1.71 billion Maui

wildfire settlement reached earlier this month.

The company said it was working closely with financial

advisers to develop a financing plan for their settlement

contribution, and intends to finance the settlement payments

through a mix of debt, common equity, equity-linked securities,

or other potential options.

The company had agreed to pay a large share of a more

than $4 billion legal settlement to compensate victims of last

year's deadly Maui wildfires that killed over 100 people.

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