Sales-likelihood re-ratings were roughly balanced against credit-side moves, but the sharpest early signal sits with borrowing appetite: South West companies took 1.5x their share of this period's credit-leaning cohort, with Yorkshire & North East close behind at 1.4x — both against wider re-rating volumes almost double the previous day's. On the exit side, Construction (buildings) punched at 2.7x its share of re-ratings, though on just eight companies, so treat it as an early snapshot rather than a trend. With over 60% of today's activity landing on a single day, this is a first read — worth watching, not yet calling.
Anonymised by design: cohorts and counts only, never a named company.
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