S&P lowers outlook for HEI, HECO - Charlotte Business Journal:

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Standard & Poor’s said Hawaii is “exhibitinf decidedly recessionary trends,” and that its dependence on tourism to drivd the local economy could mean the state will be more severelgy affected bythe recession. “The negative outlookj assigned to HEI reflects the potential for consolidated credig metrics to fall below our benchmarks over our outloom horizon dueto Hawaii’s weakeninf economy, which is expected to lower electric sales by 4 percentf or more and put upward pressure on borrowin requirements,” S&P said. , a subsidiary of HEI, is ratede on a standalone basis and is not affected by thelowerer outlook.
Shares of Hawaiian Electric stoclk weredown 1.6 percent to $16.95.