Colt Defense LLC, Poised to Default

By GunNews

Colt Defense LLC is poised to default on a couple of different financial obligations. The financial situation for Colt Defense is dire, to say the least. On November 17th, they owed a bond interest payment of $10.9 million to its bond holders. The payment of this interest is in jeopardy. Colt also has a loan agreement that has a drop dead date of December 31st, and Colt thinks that it is “probable” that they won’t comply with this.

Colt’s credit rating has been dropped by Standard & Poor’s to a dismal CCC-; This, pus Colt’s bonds squarely in the …read more

Via:: Gun News