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

Source: Bloomberg · 2026-09-28T20:45:28+00:00

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.

BestAIBroker analysis

Finance-aware sentiment: positive (+0.40 on a -1 to +1 scale).
Event classification: OTHER.
Market importance score: 38/100, weighting entity relevance, source credibility, multi-outlet coverage and recency.
Symbols referenced: APOS, S, B.

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