Real estate accounts for a striking 1.4x share of today's credit-leaning re-ratings — 120 companies out of 601, the largest single cohort in the mix — with accommodation businesses showing a sharper 1.8x skew on a thinner base of 13. On the exit side, employment & recruitment firms are modestly over-represented (1.9x, but only 10 companies) alongside a broader retail tilt (31 companies, 1.3x); re-ratings overall are down on the previous day, and with 92% of the day's movement concentrated in a single session, this reads as an early snapshot worth watching, not yet a trend.
Anonymised by design: cohorts and counts only, never a named company.
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