Suntech subsidiary SPI extends definitive moratorium

WUXI, CHINA: Suntech Power Holdings Co. Ltd announced that Suntech Power International Ltd, its principal operating subsidiary in Europe, has been granted an extension of its definitive moratorium on creditor claims from the judicial authorities in Schaffhausen, Switzerland until June 19, 2014.

Previously on June 18, 2013, the company announced that SPI had been granted a definitive moratorium for a six month period which may be extended thereafter.

The extension of the definitive moratorium allows SPI additional time to restructure its debt and reach an agreement with its creditors.