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ESG In Credit Ratings Newsletter: June 2021

There were 34 ESG-related rating actions (including rating-, outlook- and CreditWatch-changes) in May; of which 22 were downgrades. Governance and social factors each drove 16 rating actions, and two rating actions were impacted by environmental considerations. This year through May, around half of close to 300 ESG-related rating changes were health and safety related (social), and one quarter each were driven by governance and environmental considerations.