The ratings agency upgraded Topgolf’s corporate family rating to Caa1 from Caa2 and changed its outlook from negative to stable, after the indoor golf venue raised $100 million in new preferred equity with a commitment for another $80 million by the end of the year. But while all locations have now reopened, they are operating at below normal levels, and Moody’s expects a recovery to prior revenue levels to ... Log in to view full article.