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”. While there are concerns on the company's debt repayment schedule, the company reiterated it is progressing on its strategic initiatives. The company has also faced a series of legal challenges over the past two years from creditors who claim it owes them more than $700m and that they are owed money on their investments in the
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 has also faced a series of legal challenges over the past two years from creditors who claim it owes them more than $700m and that they are owed money on their investments in the