Callaway Ratings Cut by Moody’s, Affirmed by S&P
The ratings agencies both reviewed ELY following its second quarter earnings release, and Moody’s decided to downgrade its corporate family rating to B1 from Ba3 and probability of default rating to B1-PD from Ba3-PD. But Standard & Poor’s said that Callaway’s results were better than it had expected, maintained its B+ issuer credit rating, and removed it from CreditWatch, where it had been placed in April. Both agencies agree that ELY’s ... Log in to view full article.
