There's talk that Wall Street's nightmare stock is already in default

For the most part, the market is waiting for SunEdison, the world’s largest renewable energy company, to file for bankruptcy any day now.

In the meantime, reports like this can’t help.

Researcher CreditSights reported on Wednesday that the company, which is carrying around $11 billion in debt, may have already defaulted on one of its payments due April 1st. It was a $2.6 million payment on 2018 bonds. CreditSights confirmed that the payment was not made through investors and Bloomberg.

SunEdison has a grace period to pay until May 1st. It has declined to comment on the matter.

In the meantime, two significant things have happened to SunEdison — a former Wall Street darling that revealed its incredibly precarious cash position during a disastrous attempt to acquire Vivint Solar in July.

First up, an internal committee found there were some issues around the company’s accounting reporting, and “also identified wrongdoing by a former non-executive employee of the Company in connection with negotiations over the termination of the Vivint Solar, Inc. acquisition. The Company terminated the employee promptly after the Company became aware of the wrongdoing.”

So nothing to see there. The stock is up 63% on that news.

Additionally, Reuters reports that SunEdison is trying to raise some cash by selling minority stakes in its Indian solar projects. If that happens, it’s good news any way you slice it.

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