Calpine Corp. (ticker: CPN) shares dropped another 20% Friday and are now down in the 20-30 cent range. They were given notice Friday by a Delaware judge that they have until January 22 to repay $313 million owed to bondholders. [ more ]
Moody's has also downgraded their corporate bonds to junk bond Ca stauts (10 levels below investment grade.) [ more ]
Calpine was kicked out of the S&P 500 recently and now they are looking like they will declare bankruptcy. Boy, the hits just keep on coming.