据乔西·赖希（Josie Reich）报道，阿波罗全球管理公司（Apollo Global Management Inc.）旗下艺术与工艺品零售商迈克尔斯（Michaels Cos.）周一获标普全球（S&P Global）上调信用评级。评级机构鉴于迈克尔斯近期销售增长和偿债进展，将其评级从B-上调至B。
By Josie Reich 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.
“此次上调评级反映了迈克尔斯良好的经营表现，以及近期在削减债务方面所作的努力。”标普表示。
“The upgrade reflects Michaels’ good operating performance and recent debt reduction efforts,” said S&P.
标普称，迈克尔斯本财年上半年的销售增长超过预期，并预测，改组后的零售战略将帮助该零售商继续推动增长。该评级机构还指出，迈克尔斯利用关税退款偿债，使销售成本减少了1.51亿美元，并将公司的杠杆倍数从一年前的5.4倍降至4.3倍。
Michaels’ sales growth outperformed expectations in the first half of the fiscal year, S&P said, predicting that revamped retailing strategies will help the retailer continue to drive growth. The ratings agency also noted Micheal’s use of tariff refunds to pay down its debt reduced sales costs by $151 million and improved the company’s leverage to 4.3 times from 5.4 times a year ago.
阿波罗五年前收购该零售商以来，对公司的门店进行了全面改造、增加了新产品，并于2025年任命戴维·布恩（David Boone）为首席执行官。这些举措帮助公司实现反弹。彭博此前报道称，迈克尔斯的债券去年一度低至面值的34%，但目前交易价格已接近面值；阿波罗正考虑推动这家已有53年历史的公司上市。
Since Apollo bought the retailer five years ago, it has overhauled the company’s stores, added new products and installed David Boone as chief executive officer in 2025. The moves have helped the company rebound. Michaels’ bonds were trading as low as 34 cents on the dollar last year, but now trade close to par, and Apollo is looking to take the 53-year-old company public, Bloomberg previously reported.
标普还将迈克尔斯第一顺位和第二顺位留置权债务的单项评级分别上调至“B”和“CCC+”。根据彭博汇编的数据，两种票据周一均以每1美元面值约98美分的价格交易，较上周下跌约1美分。
S&P also raised its issue-level ratings for Michaels’ first- and second-lien debt to ‘B’ and ‘CCC+.’The notes both traded at around 98 cents on the dollar Monday, down about 1 cent from last week, according to data compiled by Bloomberg.
标普在评级报告中警告称，其将阿波罗对迈克尔斯的持股视为负面因素，因为这“增加了未来进行杠杆操作的风险”。标普还指出，消费者减少支出可能带来风险，并警示迈克尔斯对中国进口商品和运输存在依赖，而这两方面均受到关税和燃油价格的影响。
In its note, S&P cautioned that it views Apollo’s ownership of Michaels as a negative because it “increases the risk of a future leveraging event.”S&P also sees risk that consumers could reduce their spending and flagged Michaels’ reliance on Chinese imports and shipping, which are affected by tariffs and fuel prices.