TopGolf Callaway’s Outlook Revised to Negative by Moody’s
The ratings agency affirmed MODG’s B1 long-term corporate family rating and left its other ratings unchanged, but downgraded its outlook to negative from stable. Moody’s expects that deleveraging to below 5.5x will take longer than previously anticipated when the company issued its term loan last Mar., due to weaker consumer demand at Topgolf and the company’s rapidly growing lease obligations to support the ... Log in to view full article.
