patterns / hidden_distress

credit thesis

Hidden distress

two or more independent strain marks (cash −30%, negative working capital, revenue down, loss, overdue accounts) before any formal insolvency event — the intervention window is still open

the signature — what the register must show
staff ≥5
at least 2 of: cash ≤70% of prior year
current assets below creditors
turnover ≤90% of prior year
a filed loss
accounts overdue

Why it matters

Any one mark alone is noise; two or more independent ones are a trajectory. This is the window BEFORE the register shows a formal event — when refinancing, restructuring or rescue capital can still change the outcome.

The play

Early credit / turnaround outreach: rescue finance, bridging, restructuring advisory — while the company still has options.

How it's kept honest

The badge is recomputed nightly across the whole index, and re-evaluated live the moment a company files — so a match is always a statement about the current register, not a stale list. Like every signal on the radar: a prompt to look closer, never a verdict.