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ESG In Credit Ratings September 2023: Negative Actions Take Center Stage Again

Total ESG-related rating actions increased to 16 in August from 14 in July, with negative actions continuing to lead positive ones by three to one, down from four to one in July. Governance factors were the key driver in August, with nine rating actions, followed by social factors with five and environmental factors with two. All four of August's negative transparency and reporting-related rating actions came from the U.S. public finance sector.