Fitch affirms, withdraws Capri's ratings

Fitch Ratings has affirmed and subsequently withdrawn its credit ratings for Capri, citing the company’s decision to delist from the New York Stock Exchange. The firm confirmed that the withdrawal was at Capri’s request and does not reflect a change in its assessment of the company’s creditworthiness [1].

Capri, which owns luxury brands such as Michael Kors and Jimmy Choo, announced its intention to delist in early 2026, following a buyout led by private equity firm TPG. The delisting was completed in July 2026, marking transition to a private entity.

Fitch noted that the company’s financial performance has remained stable, with consistent revenue and operating profit, despite broader challenges in the luxury goods sector [3]. The agency emphasized that the withdrawal of the rating does not affect its view of Capri’s underlying credit profile, which remains supported by its strong brand portfolio and disciplined cost management [4].

Investors and analysts are now focused on how Capri will operate as a private company and whether the delisting will lead to strategic shifts or operational changes in the coming years.