Moody's assigns Ba3 CFR to Callaway Golf and rates term loan Ba3; outlook is stable
Moody's Investors Service assigned a Ba3 Corporate Family Rating (CFR) and Ba3-PD Probability of Default Rating to Callaway Golf Company. Moody's also assigned a Ba3 rating to a proposed $480 million senior secured term loan B and an SGL-2 speculative grade liquidity rating. The rating outlo...Callaway Golf designs, manufactures and sells golf clubs (drivers, fairway woods, hybrids, irons, wedges and putters), golf balls, golf bags and other golf-related accessories. The company generally sells its golf-related products to golf retailers (including pro shops at golf courses and off-course retailers), sporting goods retailers, Internet retailers and mass merchants, directly and through its subsidiaries, and to third-party distributors in the U.S. and in various countries around the world. The company also sells pre-owned Callaway golf products through its website www.callawaygolfpreowned.com and sells Callaway golf products through its websites www.callawaygolf.com and www.odysseygolf.com.
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