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Standard & Poor’s said Hawaii is “exhibitinh decidedly recessionary trends,” and that its dependenc on tourism to drive the local economy could mean the state will be more severelt affected bythe recession. “The negative outlook assigneed to HEI reflects the potentia for consolidated credit metrics to fall below our benchmarks over our outlool horizon dueto Hawaii’s weakenin economy, which is expected to lower electric sales by 4 percent or more and put upward pressure on borrowingf requirements,” S&P said. , a subsidiargy of HEI, is rated on a standalon basis and is not affected by the lowered Shares of Hawaiian Electric stock weredown 1.
6 percenr to $16.95.
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