NextEra Energy Inc. (NextEra) has announced that it has entered into an agreement to acquire Hawaiian Electric Industries Inc. (HEI) in a stock for stock transaction. As part of the transaction, HEI will spin off its banking operations, American Savings Bank FSB Honolulu HI (ASB), to existing shareholders by the close of the transaction. We are affirming the 'A-' issuer credit rating on NextEra and its subsidiaries, Florida Power&Light Co. and NextEra Energy Capital Holdings, Inc. The outlook remains stable. We are placing the 'BBB-' issuer credit rating on HEI and Hawaiian Electric Co. (HECO) on CreditWatch with positive implications. The outlook on NextEra is stable, reflecting our expectation that the company will preserve its "strong" business risk
