Re-ratings rose to 31,706 this week (from 27,498), and the standout is where borrowing appetite is concentrating: accommodation businesses and Northern Ireland registrations each took 1.5x their normal share of this period's credit-leaning re-ratings, well ahead of the more diffuse showing across insurance, scientific R&D and financial auxiliary services. On the exit-leaning side, legal & accounting and civil engineering firms were modestly over-represented (1.3-1.4x) among the 2,992 companies tilting toward sale, though with smaller counts behind them these are worth watching rather than betting on. Sector-laggard was the most-matched live pattern (748), with quiet-compounder and debtor-heavy close behind — a reminder that this week's real story is concentration in borrowing appetite, not a broad shift in exit intent.
Anonymised by design: cohorts and counts only, never a named company.
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