S&P Global upgrades Michaels’ credit rating from B- to B
Bloomberg reports that S&P Global cited recent sales growth and debt paydowns in upgrading the Apollo-owned arts-and-crafts retailer.
TLDR
Bloomberg reports that S&P Global raised Michaels’ credit rating from B- to B on September 28, citing recent sales growth and debt paydowns. Michaels is owned by Apollo Global Management.
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