29 de marzo de 2016 / 10:38 / hace un año

BRIEF-SunEdison at risk of bankruptcy, Terraform Global says

2 MIN. DE LECTURA

March 29 (Reuters) - Terraform Global Inc :

* Sees filing of annual report on form 10-k for fiscal year ended December 31, 2015 to be delayed beyond march 30, 2016

* Expect to file a form 12b-25 on or prior to march 30, 2016

* Currently have identified a material weakness in internal controls over financial reporting

* Have not yet completed all steps and tasks necessary to finalize financial statements and other required disclosures

* Sunedison has not performed as obligated under management services deal, in particular with respect to financial reporting, control matters

* Sunedison has not or may not be able to perform under other agreements, including deal with respect to contribution of projects in Uruguay, India

* Sunedison has not or may not be able to perform under other deals, including pending dropdown of some India project portfolio of 425 MW bought by Terraform Global Llc

* If Sunedison does not perform under some agreements, it could have a material adverse effect on Terraform global

* Due to Sunedison's liquidity difficulties, there is a substantial risk that Sunedison will soon seek bankruptcy protection

* If Sunedison seek bankruptcy protection it would have a material adverse effect on Terraform global

* In addition, Sunedison, inc. Has experienced delays in completing construction of Bora Bora wind power project

* In event Sunedison seeks bankruptcy protection, Terraform global will have sufficient liquidity to support its ongoing operations

* Sunedison has not performed as obligated under management services agreement

* Terraform global llc, Sunedison Holdings corp may agree to substitute projects initially anticipated to be transferred with different project

* Sunedison holdings corporation has not yet proposed any substitute projects

* In active discussions with credit lenders to obtain extension with regarding required delivery of form 10-k for year ended Dec 31, 2015 Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)

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