Macro Finance
Apollo-Backed Michaels Wins S&P Ratings Lift After Cutting Debt
Bloomberg Markets·September 28, 2026·1 min read
S&P Global raised Michaels Cos. credit rating to B from B- on Monday, citing recent sales growth and debt paydowns. The arts-and-crafts retailer is owned by Apollo Global Management Inc. The upgrade reflects improved financial health and reduced leverage, positioning the company for better borrowing terms and investor confidence.
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