SunEdison Inc.'s stock tumbled 23% in afternoon trade Tuesday, enough to make it the biggest percentage decliner on the NYSE after a report said the renewable energy company was in talks with its creditors. The stock was also the NYSE's second-most active, with 82.3 million shares changing hands, according to FactSet. Earlier Tuesday, Debtwire reported, citing sources familiar with the matter, that the company held talks with holders of its second lien loans to fund a debtor-in-possession facility, which is often seen as a precursor to a bankruptcy filing. The company was not immediately available for comment. The stock has now plunged 70% year to date, and 94% over the last year.
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