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Business & Finance

Apollo-Backed Michaels Wins S&P Ratings Lift After Cutting Debt

Bloomberg Markets Monday 28 September 2026, 20:45 UTC By Josie Reich 1 min read
Key Points

Michaels Cos., the arts-and-crafts retailer owned by Apollo Global Management Inc., received a credit upgrade on Monday from S&P Global. The ratings firm raised Michaels to B from B-, citing recent sales growth and debt paydowns.

Michaels Cos., the arts-and-crafts retailer owned by Apollo Global Management Inc., received a credit upgrade on Monday from S&P Global. The ratings firm raised Michaels to B from B-, citing recent sales growth and debt paydowns.
Apollo (ORG) Michaels Wins (PERSON) Apollo Global Management Inc. (ORG) S&P Global (ORG) Michaels (PERSON)
Originally published by Bloomberg Markets Read original →

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