In this week's summary of ratings views: Economic resilience and net upgrades so far this year may prove a high point for credit as we expect growth to slow in the second half and rates to remain elevated. The debt burdens of the G7’s largest economies continue to rise. Payment defaults in private credit remain low. Also: EMEA auto suppliers feel the heat, how management and governance modifiers influence ratings, the regulatory response to banking volatility, and our latest sustainability quarterly.