Suzlon Cash Crunch Worsens as Edison Payment Trails Debt
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Suzlon Energy Ltd.’s ability to repay $700 million of debt may be worse than expected after U.S. customer Edison International said the earliest it’ll pay off a contract with the turbine-maker is next year.
Suzlon, the third-biggest wind-turbine maker by sales, said last month that it hoped to recoup a $206 million payment from Edison before June when the first of its foreign-currency convertible bonds matures. Edison’s latest 10-K filing said the soonest that could happen is next February.