Michaels Stores, Inc.: Update to Discussion of Key Credit Factors
CORPORATES CREDIT OPINION 18 July 2017 Update RATINGS Michaels Stores, Inc. Domicile Irving, Texas, United States Long Term Rating Ba2 Type LT Corporate Family Ratings - Dom Curr Outlook Stable Please see the ratings section at the end of this report for more information. The ratings and outlook shown reflect information as of the publication date. Contacts Peggy Holloway 212-553-4542 Senior ViceMichaels Companies is an arts and crafts retailer in North America, providing materials, project ideas and education for creative activities. The company also operates a wholesale business under the Darice brand name and a custom framing business under the Artistree brand name. The Michaels store provides general crafts, home decor and seasonal, framing and papercrafting products. The company's Darice business provides a range of craft and hobby items. The company also has online platforms including Michaels.com, ConsumerCrafts.com, Darice.com, AaronBrothers.com (its online framing solution) and its Michaels app, which connects its store and online experiences.
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