Moody’s Sees MODG’s Topgolf Spinoff Increasing Leverage
Topgolf Callaway was placed under review for a possible downgrade by the ratings agency, as it looks for strategic alternatives for the Topgolf business, which has turned in disappointing comps over the past few quarters. Moody’s is particularly concerned about the impact of a spinoff, which would likely elevate the remaining company’s leverage, while removing collateral and the source of ... Log in to view full article.
