Food & beverage service re-rated toward distress at nearly twice its share of today's cohort, on a meaningful base of 66 companies — the clearest single signal in an otherwise early, single-day snapshot of 1,495 re-ratings. Real estate leans the other way on the exit side (2.0x lift, though a thinner 15 names), alongside a broad set of over 300 fresh pattern matches led by Sector laggard and Quiet compounder archetypes. Distress-side regional spread was diffuse today, so no geographic story yet — worth watching whether the food & beverage skew holds as more days accumulate.
Anonymised by design: cohorts and counts only, never a named company.
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