Food & beverage service is running at 3.6x its normal share of today's distress-leaning re-ratings (17 firms), by far the sharpest concentration in either direction — worth a look, though it's one day's data (745 re-rated, 97% same-day) and shouldn't be read as a trend yet. The broader move was flat-to-softer than the prior day (121 exit-leaning vs 153, 127 distress-leaning vs 140), with Retail notable on both sides and Scotland the one region lifted in both directions. Pattern volume was led by Sector laggard (194) and Acquirer magnet (119) — early signal, not yet a market split.
Anonymised by design: cohorts and counts only, never a named company.
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