NEW YORK (TheStreet) -- Shares of TerraForm Global (GLBL) are rising 9.85% to $3.57 this morning after the company announced it was in talks with SunEdison (SUNEQ) to sell SunEdison's controlling stake, Bloomberg reports.
On April 21, SunEdison, a Maryland Heights, MO-based energy and power developer, filed for bankruptcy.
TerraForm Global is a yield company based in Bethesda, MD which SunEdison formed to buy clean power plants outside the U.S. The companies are now discussing "a jointly managed sales process and accompanying protocol for managing the marketing process."
SunEdison is undergoing a major sale of clean energy assets as it looks to make back $16.1 billion in liabilities. The company is attempting to sell the entire company, but has only received bids for parts.
TerraForm Global and SunEdison have not announced a process for selling the latter's controlling stake to either TerraForm Global or its sister yield company, TerraForm Power (TERP).
Separately, TheStreet Ratings rated this stock as a "buy" with a ratings score of B.
The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, notable return on equity and expanding profit margins. TheStreet Ratings feels its strengths outweigh the fact that the company shows weak operating cash flow.
You can view the full analysis from the report here: AAPL
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.