Sector concentration this snapshot: Accommodation stands out at 2.0x its share of re-ratings on the credit-leaning side, alongside a firmer construction-adjacent cluster (civil engineering, buildings) also skewed toward borrowing appetite. On the exit side the signal is thinner and more diffuse — head office/consultancy and wholesale lead but only modestly, at 1.4-1.5x. Both re-rating counts and directional splits are down on the previous day and this reading rests on a single day's data, so treat it as an early snapshot rather than a trend.
Anonymised by design: cohorts and counts only, never a named company.
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