Shanghai Chaori Solar Energy Science and Technology Co Ltd failed last Friday to pay an 89 million yuan interest payment on a 1- billion-yuan, five-year bond it issued in 2012.. "The marketisation of defaults constitutes progress," said Chen Dongming, chief credit officer at China Lianhe Rating Co Ltd in Beijing.
*Default positive for rational risk pricing in China- analysts. The warning by Shanghai Chaori Solar Energy Science and Technology Co Ltd highlights rising credit risk in China, where a massive run-up in corporate debt since 2008- and overcapacity in sectors such as steel, coal and solar- have threatened the solvency of many borrowers.
*Default would be first-ever in China's domestic bond market. The warning by Shanghai Chaori Solar Energy Science and Technology Co Ltd highlights the rising credit risk in China, where record levels of corporate debt are likely to accelerate a spate of restructuring and trigger more defaults.
Feb 24- Debt-laden Chinese solar company LDK Solar Co Ltd said it filed in the Cayman Islands for the appointment of provisional liquidators, four days before it is due to make a $197 million bond repayment. LDK Solar, which is incorporated in the Cayman Islands, has received several reprieves from investors on interest payments on the bond, which matures on Feb. 28.
Feb 24- Debt-laden Chinese solar company LDK Solar Co Ltd said it filed an application for provisional liquidation in the Cayman Islands. LDK Solar, incorporated in the Cayman Islands, said it has made "considerable progress" in its discussions with key offshore creditors.
JinkoSolar Holdings, JA Solar, Canadian Solar and U.S. companies including First Solar and Sunpower Corp have raised about $3 billion in the past year, over according to industry estimates and Thomson Reuters data, mostly through private share placements, public share issues and convertible bonds.
Feb 11- Canadian Solar Inc's fourth-quarter revenue estimate missed analysts' estimates as weak panel prices more than offset a rise in demand, sending its shares down 4 percent. Solar companies are seeing increased demand for panels and other products, primarily in China and Japan, but prices remain depressed as excess supplies continue to flood the market.
*Estimates 4th- qtr revenue of $510- $520 mln vs est. Feb 11- Canadian Solar Inc estimated 2013 would be its first profitable year since 2010 as its strategy of building high- margin solar power plants pays off. Canadian Solar estimated it would post a profit in the fourth quarter ended Dec. 31, its second straight quarterly profit after nine quarters of losses.
SHANGHAI, Jan 27- A Chinese trust firm said on Monday it had reached an agreement to resolve a troubled high yield investment product, just days away from what could have been a precedent setting default in China's shadow banking system.
BEIJING, Jan 20- China hit the United States with final anti-dumping and anti-subsidy duties on imports of solar-grade polysilicon on Monday, the latest move in what has been a contentious trade battle in the solar industry.
*JA Solar expects lower shipments to China in current quarter. *LDK shares fall 5.6 pct; JA Solar down 11 pct. Shares of rival JA Solar Holdings Co Ltd fell 11 percent after the company forecast lower shipments to China in the current quarter.
Nov 26- Chinese solar companies LDK Solar Co Ltd and JA Solar Holdings Co Ltd reported narrower quarterly losses and forecast strong shipments for the current quarter as markets outside of Europe drive demand in an improving solar market.
Nov 26- China's LDK Solar Co Ltd posted a smaller third-quarter loss than a year earlier and the debt-laden company said it was seeing continued signs of recovery in the solar panel market. The company's net loss narrowed to $127 million, or 65 cents per American Depositary Share, in the quarter ended Sept. 30, from $136.9 million, or $1.08 per ADS, a year ago.
SHANGHAI, Oct 31- The looming bailout of Suntech Power may mark a temporary victory for the city of Wuxi in its struggle to keep its champion employer afloat, but it highlights a singular weakness in China's reform strategy: a deep-rooted political inability to allow inefficient businesses to go bust.
The Energy Department is sticking by its green loan program, even as critics question the government's moves into venture capitalism.
Stocks finished modestly higher in lackluster trading Monday, with the Dow and S&P 500 closing at new highs for the third-straight session, as investors digested a handful of mixed economic data and ahead this week's slew of earnings reports.
Some of the names on the move ahead of the open.
Despite the financial headwinds battering solar panel makers, alternative energy has a bright future, First Solar CEO James Hughes said Thursday.
Stocks finished off their best levels but the Dow still posted a fresh closing high Tuesday. And the S&P 500 traded within 2 points of its all-time peak earlier in the session.
Once attracting billions in private investment and public subsidies, enthusiasm over the solar sector has waned recently, underscoring the limits of renewable energies and the dominance of fossil fuels.