Topgolf Callaway Downgraded by S&P Global
The rating agency said that it expects MODG’s 6x adjusted leverage to remain near that level for the next 12 months, leading it to lower its issuer credit rating and issue-level rating on the company’s $1.1 billion term loan to B from B+. Weak results in the third quarter were also a factor, and S&P expects a nearly 3% drop in sales for 2024 despite ... Log in to view full article.
