Standard & Poor’s cut ELY’s issuer credit rating by one notch to B+, because it expects the Covid-19 pandemic to reduce sales and EBITDA due to retail store closures and lower demand for discretionary products. It cited a recent National Golf Foundation survey, which found that over 50% of frequent golfers that were planning to purchase equipment now plan to delay their purchase. The ratings agency also put Callaway ... Log in to view full article.