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Standard & Poor’s said Hawaii is “exhibiting decidedlyt recessionary trends,” and that its dependence on tourismm to drive the local economy could mean the state will be more severely affected bythe recession. “The negative outlook assignedd to HEI reflects the potentialo for consolidated credit metrics to fall beloew our benchmarks over our outlool horizon dueto Hawaii’s weakening which is expected to lower electrif sales by 4 percent or more and put upwardd pressure on borrowing requirements,” S&P said. , a subsidiary of HEI, is raterd on a standalone basis and is not affectedf by thelowered outlook. Shares of Hawaiiam Electric stock weredown 1.
6 percent to $16.95.
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