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.
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