Real estate is the clearest signal here: it accounts for 1.7x its share of today's re-ratings among companies leaning toward credit, and at 109 filings it's the largest single cohort in either direction — worth watching, though the day's overall re-rating volume (3,694) is a snapshot, not a trend. On the exit side, the picture is more diffuse: Employment & recruitment (1.8x) and Wholesale (1.7x) lead the over-representation, but on small counts (8 and 21 respectively) that warrant a light touch rather than a headline. Northern Ireland stands out regionally for credit-leaning appetite (1.9x, though also just 8 companies), while the South West carries the modest exit-side regional lift (1.4x, 48 companies) — the firmer of the two regional reads simply on sample size.
Anonymised by design: cohorts and counts only, never a named company.
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