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ESG In Credit Ratings November 2023: Positive Rating Actions Fall To A Year-To-Date Low

Total ESG-related rating actions increased to 16 in October from a year-to-date low of 10 in September, with negative actions continuing to lead positive ones by seven to one. Governance factors continued to be the primary driver, with 10 rating actions, followed by social factors with six. All seven of October's U.S. public finance rating actions were negative, with six due to governance factors. Of these, five were driven by risk management, culture, and oversight factors.