Moody’s Sees MODG’s Topgolf Sale Decreasing Leverage
The ratings agency confirmed Topgolf Callaway’s B1 corporate family rating and the B1 rating on the senior secured term loan B, while changing the outlook to stable from under review. Once the sale of its Topgolf entertainment business to Leonard Green for an implied equity value of approximately $1.1 billion closes in Q1 ‘26, the newly named Callaway will operate with considerably lower leverage and generate ... Log in to view full article.
