Suzlon issues clarification on company's health

{image-suzlon-energy_02092008[1]_27102008.jpg news.oneindia.in}Mumbai, Oct 27: Energy provider Suzlon has reassured the market and investors on the health of the company, saying the rumors about the company's solvency and line of credit are 'baseless.'

On the issue that the company has defaulted with its lenders and FCCB holders and lenders have suspended their facilities, a company release said here on Monday, Oct 27. The release said there has been no change in the company's 'financial position' and it continues to meet all obligations to its lenders under the relevant documents. All borrowing lines continue to be available and the company continues to receive support from its lenders. There has been no change in the holdings of the promotors of the company, which continues to stand at 65.83 per cent since January 10. The company is contemplating taking legal action in this regard, the release added.

UNI