AES Hawaii, Inc. -- Moody's withdraws rating of AES Hawaii

15.08.12 00:35 Uhr

Approximately $348 million of senior secured notes affected

New York, August 14, 2012 -- Moody's Investors Service has withdrawn its B1 rating and negative outlook for AES Hawaii, Inc.'s approximately $348 million 6.87% senior secured notes. The rating has been withdrawn because Moody's believes it has insufficient information to support the maintenance of the rating. Please refer to Moody's Withdrawal Policy on www.moodys.com.

RATINGS RATIONALE

AES Hawaii is a 180 MW coal-fired circulating fluidized bed generating facility located at Barbers Point, on the Hawaiian island of Oahu. The project has been in operation since 1992 and sells all of its output to Hawaiian Electric Company, Inc. (HECO: Baa1 senior unsecured) under a power purchase agreement (PPA) that extends to September 2022. The project also sells steam to a nearby Chevron refinery.

The principal methodology used in this rating was Power Generation Projects published in December 2008. Please see the Credit Policy page on www.moodys.com for a copy of this methodology.

REGULATORY DISCLOSURES

Please see the ratings disclosure page on www.moodys.com for general disclosure on potential conflicts of interests.

Please see the ratings disclosure page on www.moodys.com for information on (A) MCO's major shareholders (above 5%) and for (B) further information regarding certain affiliations that may exist between directors of MCO and rated entities as well as (C) the names of entities that hold ratings from MIS that have also publicly reported to the SEC an ownership interest in MCO of more than 5%. A member of the board of directors of this rated entity may also be a member of the board of directors of a shareholder of Moody's Corporation; however, Moody's has not independently verified this matter.

Please see Moody's Rating Symbols and Definitions on the Rating Process page on www.moodys.com for further information on the meaning of each rating category and the definition of default and recovery.

Please see ratings tab on the issuer/entity page on www.moodys.com for the last rating action and the rating history.

The date on which some ratings were first released goes back to a time before Moody's ratings were fully digitized and accurate data may not be available. Consequently, Moody's provides a date that it believes is the most reliable and accurate based on the information that is available to it. Please see the ratings disclosure page on our website www.moodys.com for further information.

Please see www.moodys.com for any updates on changes to the lead rating analyst and to the Moody's legal entity that has issued the rating.

Laura Schumacher VP - Senior Credit Officer Project Finance Group Moody'sInvestors Service, Inc.250 Greenwich StreetNew York, NY 10007 U.S.A. JOURNALISTS: 212-553-0376 SUBSCRIBERS: 212-553-1653A.J. Sabatelle Senior Vice President Project Finance Group JOURNALISTS: 212-553-0376 SUBSCRIBERS: 212-553-1653 Releasing Office: Moody's Investors Service, Inc.250 Greenwich StreetNew York, NY 10007 U.S.A. JOURNALISTS: 212-553-0376 SUBSCRIBERS: 212-553-1653(C) 2012 Moody's Investors Service, Inc. and/or its licensors and affiliates (collectively, "MOODY'S"). All rights reserved.

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Nachrichten zu Hawaiian Electric Industries Inc.

Analysen zu Hawaiian Electric Industries Inc.

DatumRatingAnalyst
22.09.2014Hawaiian Electric Industries BuyGabelli & Co
01.04.2005Update Hawaiian Electric Industries Inc.: OutperfoRobert W. Baird
DatumRatingAnalyst
08.01.2015Hawaiian Electric Industries HoldGabelli & Co
26.05.2005Update Hawaiian Electric Industries Inc.: NeutralDA Davidson
DatumRatingAnalyst
30.04.2015Hawaiian Electric Industries UnderweightBarclays Capital

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