Indian wind turbine manufacturer Suzlon is once again facing rumours of possible default after deal talks with Suzlon collapsed as Monday ’s repayment of $ $172 million m for its foreign currency convertible bonds looms. Vestas ’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”. Wind power solutions provider Suzlon Energy will need to pay out another $172 million towards its foreign currency convertible bonds (FCCB) due in July this year. 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 Suzlon collapsed as Monday ’s repayment of $ $172 million m for its foreign currency convertible bonds looms. Vestas ’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.