Does First Solar’s New Unsecured Credit Line Recast FSLR’s Balance Between Flexibility and Trade Risk?

First Solar (FSLR) recently secured a new US$1.50 billion unsecured revolving credit facility, replacing its prior secured facility. This move offers increased financial flexibility and indicates lender confidence, supporting the company’s U.S. expansion plans. The new facility, coupled with a U.S. Supreme Court ruling striking down “reciprocal” tariffs, is expected to lower input costs and boost First Solar’s U.S. manufacturing capabilities, although ongoing trade policy uncertainties remain a key risk.