We have published a Request For Comment: Environmental, Social, And Governance (ESG) Principles In Credit Ratings. The criteria proposal formalizes and restates in a single article our analytical approach to incorporating the impact of ESG credit factors in our credit analysis. Accordingly, we do not expect the criteria to affect existing ratings. There were 48 ESG-related rating actions in April; 23 were downgrades. Half of the ESG-related actions were driven by governance considerations and 17% related to environmental influence. One-third were directly connected to the pandemic (health and safety), compared to 60% during the first three months of the year.