Aug. 23 at 9:35 PM
$RUN Intel and Sunrun operate in vastly different market sectors, meaning their debt profiles carry entirely distinct risk frameworks. Hyper-mature Intel generates
$57.03 billion in TTM revenue, which is over 16 times Sunrun’s
$3.47 billion, and backs its unsecured corporate debt with an investment, grade rating and
$29.80 billion in liquid cash. Conversely, Sunrun relies on a junk, rated, capital, intensive solar model funded by non-recourse project debt and asset, backed securitizations, leaving its balance sheet highly sensitive to macroeconomic interest rates and long-term consumer utility contracts.
