Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: LDK Solar (NYSE: LDK) dropped 10% in intraday trading today, after announcing that it was postponing a debt offering because of "market conditions."

So what: LDK stated that it postponed the debt offering because a recent increase in interest rates exceeded its expectations. Management still expects to generate enough operating cash flow to support its business plan, and it reiterated guidance for the first quarter and fiscal year.

Now what: Solar companies have been struggling with a cloudy environment caused by oversupply and price-slashing. LDK's plan to spin off its polysilicon business to raise cash is looking dicier as prices plunge. With news articles discussing heavy corporate debt issuance to take advantage of low interest rates, the company's decision to cite higher-than-expected interest rates for postponing the new debt suggests that investors may have balked at LDK's already heavy debt-to-equity ratio of 246%.

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