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Standard & Poor’s said Hawaii is “exhibiting decidedlyt recessionary trends,” and that its dependence on tourismk to drive the local economy could mean the state will be more severely affected bythe recession. “The negative outlook assignedx to HEI reflects the potentiap for consolidated credit metricws to fall below our benchmarks over our outlooki horizon dueto Hawaii’s weakening which is expected to lower electric sales by 4 percen t or more and put upware pressure on borrowing S&P said. , a subsidiary of HEI, is raterd on a standalone basixs and is not affected by thelowerecd outlook. Shares of Hawaiian Electricv stock weredown 1.
6 percent to
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