First Solar (FSLR) has secured a new five-year, $1.5 billion unsecured revolving credit facility with JPMorgan Chase as the administrative agent. This facility enhances the company’s liquidity for working capital and general corporate purposes, though it introduces covenants regarding leverage and interest coverage. An analyst maintains a Buy rating with a $326 price target, while TipRanks’ AI Analyst, Spark, rates FSLR as Neutral citing strong profitability and a conservative balance sheet, but concerns over free cash flow and bearish technical indicators.
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First Solar Secures $1.5 Billion Revolving Credit Facility
First Solar (FSLR) has secured a new five-year, $1.5 billion unsecured revolving credit facility with JPMorgan Chase as the administrative agent. This facility enhances the company’s liquidity for working capital and general corporate purposes, though it introduces covenants regarding leverage and interest coverage. An analyst maintains a Buy rating with a $326 price target, while TipRanks’ AI Analyst, Spark, rates FSLR as Neutral citing strong profitability and a conservative balance sheet, but concerns over free cash flow and bearish technical indicators.