S&P downgrades Callaway for its merger with Topgolf

2021-04-08T17:10:00

The pro forma debt/Ebitda ratio of about 8 times given for the company formed by the merger of Callaway Golf with Topgolf has led Standard & Poor’s to downgrade the credit rating of Callaway to B from B+, and the agency indicated that it could lower it further. As Callaway ...

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