NEW YORK (TheStreet) -- SunEdison  (SUNE) stock continues to drop, down by 2.40% to $2.03 in mid-morning trading on Thursday, after the company announced that it will delay filing its annual report. 

The renewable energy company delayed the filing after SunEdison found "material weaknesses in its internal controls over financial reporting, primarily resulting from deficient information technology controls in connection with newly implemented systems."

The delayed filing could affect SunEdison's ability to borrow money, Bloomberg reports. 

"I would be very surprised if they could raise debt or equity at this point," Swami Venkataraman, a vice president at Moody's Corp. (MCO), told Bloomberg. "Even private investors will probably shy away without a 10-K. At some point they're going to run out of cash for the G&A expenses, and I think that could happen (within) one year." 

SunEdison yieldco TerraForm (TERP) also delayed filing its annual report because the company relies on SunEdison's personnel and systems, Real Money's Carleton English wrote in an article on Wednesday.

Separately, TheStreet Ratings team rates the stock as a "sell" with a ratings score of D.

SunEdison's weaknesses include its generally high debt management risk, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share.

You can view the full analysis from the report here: SUNE

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 article's author