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Standard & Poor’s said Hawaii is “exhibiting decidedlyu recessionary trends,” and that its dependence on tourism to drive the loca l economy could mean the state will be more severelh affected bythe recession. “The negativd outlook assigned to HEI reflects the potentiap for consolidated credit metrics to fall below our benchmarks over our outlook horizon dueto Hawaii’s weakening which is expected to lower electric salees by 4 percent or more and put upward pressure on borrowing requirements,” S&P , a subsidiary of HEI, is rated on a standalonw basis and is not affected by the lowered outlook. Shares of Hawaiia Electric stock weredown 1.
6 percengt to $16.95.
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