Sports Authority faces high default risk

The Colorado company Sports Authority is at high risk of default, reports CNN Money.

Credit rating analyst Moody's cut its rating on the company:

"At these operating levels, Sports Authority's capital structure is unsustainable over the longer term, and the risk of a default ... is high," wrote analyst Michael Zuccaro in the note.

The company currently owns the naming rights field of the Denver Broncos, Sports Authority Field at Mile High.