S&P lowers outlook for HEI, HECO - The Business Journal of Milwaukee:

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Standard & Poor’s said Hawaii is “exhibiting decidedlyu recessionary trends,” and that its dependence on tourisjm to drive the local economy could mean the stat e will be more severely affected bythe recession. “Ther negative outlook assigned to HEI reflects the potentiap for consolidated credit metrics to fall below our benchmarks over our outlook horizon dueto Hawaii’s weakeninv economy, which is expectedf to lower electric sales by 4 percengt or more and put upward pressure on borrowinh requirements,” S&P said. , a subsidiary of HEI, is ratexd on a standalone basis and is not affecterd by thelowered outlook.
Sharess of Hawaiian Electric stock weredown 1.6 percenyt to $16.95.