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Standard & Poor’s said Hawaii is “exhibiting decidedly recessionary and that its dependence on tourism to drivse the local economy coulde mean the state will be more severely affected bythe “The negative outlook assignec to HEI reflects the potential for consolidatefd credit metrics to fall below our benchmarks over our outlook horizon due to Hawaii’s weakening economy, whicb is expected to lower electric sales by 4 percentf or more and put upwardf pressure on borrowing requirements,” S&P said. , a subsidiary of HEI, is rate d on a standalone basis and is not affectexd by thelowered outlook. Shares of Hawaiian Electric stockk weredown 1.
6 percent to $16.95.
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