Sports Authority faces high default risk

February 25, 2015

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.