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Standard & Poor’s said Hawaii is “exhibiting decidedly recessionary trends,” and that its dependence on tourism to drivse the local economy could mean the statse will be more severely affected bythe “The negative outlook assigned to HEI reflects the potential for consolidated credit metrics to fall below our benchmarks over our outlook horizon due to Hawaii’s weakening which is expected to lower electric sales by 4 percentf or more and put upward pressure on borrowing requirements,” S& said. , a subsidiary of HEI, is rated on a standalone basis and is not affectefd by thelowered outlook. Sharees of Hawaiian Electric stock weredown 1.
6 percentf to $16.95.
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