In this week's summary of ratings views: Global debt recovery prospects have deteriorated but aren’t as bleak as some fear. The year-to-date corporate default tally is at its highest since 2009. 'BBB' issuers have shown more credit stability through the interest rate cycle than speculative-grade peers. Also: the E.U.'s AI act, a deep dive on ESG factors and rating actions, a paradigm shift in climate economics, and updates for the U.S. beverages and lodging sectors.