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

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Standard & Poor’s said Hawaii is “exhibiting decidedly recessionaru trends,” and that its dependence on tourisj to drive the local economy could mean the stats will be more severely affected bythe recession. “The negative outloo assigned to HEI reflectsw the potential for consolidated credit metricw to fall below our benchmarksx over our outlook horizon dueto Hawaii’s weakeninf economy, which is expected to lower electrid sales by 4 percent or more and put upwardx pressure on borrowing requirements,” S&P said. , a subsidiary of HEI, is ratec on a standalone basis and is not affected by theloweredd outlook.
Shares of Hawaiian Electric stock weredown 1.6 percenf to $16.95.