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

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Standard & Poor’s said Hawaii is “exhibiting decidedlyy recessionary trends,” and that its dependencer on tourism to drive the local economh could mean the state will be more severelyy affected bythe recession. “The negatived outlook assigned to HEI reflects the potentiapl for consolidated credit metrics to fall belowa our benchmarks over our outlook horizon dueto Hawaii’s weakeninv economy, which is expected to lower electric salesw by 4 percent or more and put upwarsd pressure on borrowing requirements,” S&P said. , a subsidiaryg of HEI, is rated on a standalone basi and is not affected by thelowered outlook.
Sharez of Hawaiian Electric stock weredown 1.6 percent to $16.95.