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Coal producer Peabody Energy and renewable energy company SunEdison warned of financial troubles Wednesday as low energy prices contribute to stress on a wide range of companies in the power industry.
Peabody said in a U.S. Securities and Exchange Commission filing that it expects it won't be in compliance with its financial covenants on March 31 and may have to file for Chapter 11 bankruptcy protection.
The company said it has held discussions with lenders regarding potential debt-for-equity swaps or new financing.