Thursday, March 3, 2016

SunEdison in More Trouble

New troubles for SunEdison as there are now calls for the replacement of the CEO.

SunEdison (NYSE: SUNE)
CEO: Ahmad Chatila
Year started: 2009
One year stock price change: -94.5%
Annual compensation: $7.7 million

SunEdison Inc said on Wednesday it suspended payment of quarterly dividends on its preferred stock. The company said it suspended payment of quarterly dividends on its 6.75 percent series A perpetual convertible preferred stock. This is another indication that the company is running out of cash.

The Wall Street Journal reported that Goldman Sachs, Barclays, Citigroup and UBS have balked at providing loans they had committed to fund TerraForm Power Inc's , SunEdison's yield company, takeover of some of Vivint Solar Inc's assets.

The question remains.  How much longer can SunEdison continue as a "going concern"?

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