Re-ratings ran well above the prior day's pace, and the clearest early signal sits on the credit side: Accommodation and Publishing (incl. software) each took roughly 1.5–1.7x their normal share of today's re-ratings, alongside a firmer, larger showing from Real estate and Construction (buildings) — Northern Ireland stood out too, over-represented on both exit and credit reads at once. This is a snapshot from a single busy day, not a trend, so treat the concentration as an early flag worth watching rather than a settled pattern; the exit-leaning cohort, by contrast, was smaller and thinner on evidence. Roughly 670 companies moved both ways together — that's churn to note, not a market split, so we're leaving it out of the story for now.
Anonymised by design: cohorts and counts only, never a named company.
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