Colt Defense LLC’s debt rating has been cut to the lowest level possible after the hand-gun maker skipped an interest payment and extended its deadline for creditors to approve either a debt exchange or a prepackaged bankruptcy.
Tuesday, May 19, 2015
Colt's Getting Closer to the Drain
No surprise. The hedge fund pirates and the vulture capitalists have about finished their work.
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IMO, Most of the blame can be laid at the feet of Colt its self. I always thought that when they quit manufacturing revolvers, they pretty much shit in their own nest. Government contracts are nice, but how many M4's and M16A2's is the government really going to buy?
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