Moody's Revises NCAA Credit Outlook To Negative

NEW YORK (AP) The NCAA's credit outlook has been revised to negative by ratings agency Moody's as the governing body of college sports deals with an anti-trust lawsuit about the use of athletes' images and likenesses.

A federal judge in California is considering whether to certify a lawsuit by former UCLA basketball star Ed O'Bannon as a class-action suit. The lawsuit demands the NCAA find a way to cut players in on the billions of dollars earned from live broadcasts, memorabilia sales, video games and in other areas.

The report released Monday says: "The outlook change to negative reflects increasing litigation and regulatory risks that could potentially alter the NCAA's operations."

The NCAA said in a statement that its financial rating did not change and it "does not anticipate any substantive issues based on the Moody report."

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