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Credit Agreement

All articles tagged with #credit agreement

business2 years ago

SunPower's Stock Plunges Amid Survival Doubts and Default Risk

Shares of SunPower Corporation (SPWR) are plummeting over 35% after a regulatory filing revealed "substantial doubts" about the company's survival. SunPower also breached a key term in a credit agreement, potentially leading to loan recalls. The decline in stock value reflects concerns about the company's ability to compete in the solar energy market and increased competition. Goldman Sachs downgraded SunPower and lowered its price target, citing price pressure and lower revenue estimates. The renewable energy sector has faced jitters due to high capital costs and the impact of a higher interest rate environment.

via Yahoo Finance|
#business#credit-agreement#renewable-energy
business2 years ago

SunPower's Shares Plummet Amid Concerns Over Viability

SunPower, a solar power generation company, raised doubts about its ability to continue operating after breaching a key term in a credit agreement, potentially leading lenders to recall $65.3 million in debt. The company is currently in talks with lenders for a waiver, but if unsuccessful, it may not have sufficient funds for day-to-day operations. However, analysts believe that obtaining a waiver should not be a problem as it is primarily a technical issue. SunPower had previously secured a waiver after breaching the terms of another credit agreement and had announced restatements of its financial statements for last year and the first two quarters.

via Reuters|
#business#credit-agreement#debt
business2 years ago

SunPower's Shares Plummet Amid Going Concern Doubts

SunPower, a solar company, expressed doubts about its ability to continue as a going concern, causing its shares to drop by 25%. The company also disclosed a breach in its credit agreement due to a delay in filing its quarterly results. SunPower had previously announced the need to restate its financial statements for the last fiscal year and the first two quarters. The lender may demand immediate payment of outstanding borrowings, which amount to $65.3 million. SunPower stated that if it is unable to continue its business, its common stock may have little or no value.

via Yahoo Finance|
#business#credit-agreement#financial-concerns