Indian wind turbine manufacturer Suzlon is once again facing rumours of possible default after deal talks with Vestas collapsed as July ’s payment of $ 172 million for its foreign currency convertible bonds looms . Suzlon ’s debts have already been downgraded to default by ratings agency Nielsen India , which added redemption of July ’s foreign currency convertible bonds in time would be “ to ” . The company said it was working on strategic initiatives .
Indian wind turbine manufacturer Suzlon is once again facing rumours of possible default after deal talks with Vestas collapsed as July’s repayment of $172m for its foreign currency convertible bonds looms. Suzlon’s debts have already been downgraded to default by ratings agency CARE Ratings, which added redemption of Suzlon’s foreign currency convertible bonds in time would be “challenging”. The company said it was working on strategic initiatives.