New York, December 04, 2014 -- Moody's Investors Service has affirmed the ratings of American Savings Bank, FSB, following the announcement that the bank would be spun off to the shareholders of its parent, Hawaiian Electric Industries, Inc. (HEI; Prime-2 stable). The bank is rated A3 for long-term deposits, other senior obligations (OSO), and issuer rating and Prime-2 for short-term deposits and OSO. Its standalone bank financial strength rating is C, which maps to a baseline credit assessment of a3. The rating outlook is stable.

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