Debt-heavy LDK Solar posts seventh straight quarterly loss
April 18 (Reuters) - Chinese solar panel maker LDK Solar Co Ltd on Thursday reported its seventh straight quarterly loss, showing the impact of a prolonged slump in the solar sector.
LDK's net loss narrowed to $517 million, or $3.68 cents per American Depositary Share (ADS), in the fourth quarter from $588.7 million, or $4.63 per ADS, a year earlier.
LDK partially defaulted on a $24 million bond due on Monday, almost a month after rival Suntech Power Holdings Co Ltd defaulted on $541 million in bonds due March 15.
Chinese solar companies piled on debt over the past two years to expand manufacturing operations, eventually leading to a glut that sent panel prices down sharply.