Topps Downgraded after Merger Dissolves
Moody’s lowered The Topps Company’s corporate family rating to B2 from B1, with corresponding downgrades of its issue level ratings, assigning a negative outlook. The double whammy of losing the MLB and MLB Players’ Association licenses to Fanatics, then seeing its merger with the Mudrick Capital Acquisition Corporation II SPAC cancelled, led to the downgrade. The ratings agency says ... Log in to view full article.
