Indosolar Asks Lenders to Restrcture Debt a Second Times
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Indosolar Ltd., India’s biggest manufacturer of solar cells by capacity, asked lenders to restructure its debt for a second time, saying it has idled a plant because prices are too low to make a profit.
“Due to continued liquidity issues the company has approached bankers for a second corporate debt restructuring package,” the New Delhi-based company said in a filing today. Short-term liabilities exceed short-term assets by 1.9 billion rupees ($31 million), it said.