SunEdison Files For Bankruptcy

SunEdison Inc. said Thursday that it filed for bankruptcy protection, a move that has been expected by investors for weeks. The renewable energy company's stock was halted for news. The last trade prior to the halt was at 34 cents, down 93% year to date. The company said it has secured $300 million in debtor-in-possession financing to minimize business disruptions while it restructures. "Our decision to initiate a court-supervised restructuring was a difficult but important step to address our immediate liquidity issues," said Chief Executive Ahmad Chatila. SunEdison said its yieldcos, TerraForm Power and TerraForm Global were not part of the filing. TerraForm Power's stock surged 4.1% in morning trade and TerraForm Global shares climbed 3%.