SQN Asset Finance Income (SQN) has released an announcement that says one of its borrowers failed to make an interest payment scheduled for 31 March.
Although SQN didn’t name the borrower, it is obvious from the context and information published elsewhere that it is Suniva, a Georgia and Michigan-based manufacturer of photovoltaic solar cells and modules. Early in April, Suniva laid off 131 employees, closed its Michigan plant and, on 17 April, it filed for chapter 11 bankruptcy….
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