Re-ratings tripled week-on-week, and this time credit leans somewhere: real estate accounted for nearly a third of all credit-leaning names at 1.8x its share, with Northern Ireland (1.5x) and Scotland (1.4x) the standout regions — a genuine geographic tilt, not just volume. Exit-leaning activity grew more modestly and stayed diffuse, with only mild concentration in legal & accounting and film & media production (1.5x each, both on thin counts) and motor trade (1.3x). The 1,171 dual-direction re-ratings are noise worth flagging, not a trend worth naming.
Anonymised by design: cohorts and counts only, never a named company.
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