Q9, run 2026-11-04-1526-sonnet
As of 1 October 2026, how many distinct issuers hold an issuer rating?
Tests: Everything at once: identity, withdrawal, instrument versus issuer, ceiling versus rating.
Expected: count = 5
csv run 1
5. The issuers with a current issuer rating are E01, E02 (E03 is the same entity), E05, E06 and E08. E07's rating was withdrawn (A19), E04 has no issuer rating, and VD's "CC" is a country-ceiling rating rather than an issuer rating. Counting E08 depends on treating RD as a rating.
JSON: {"count": 5}
csv run 2
5. The issuers with a current LTIDR are E01, E02/E03 (counted once because they share an LEI), E05, E06 and E08 (RD). E07's rating is withdrawn (A19). E04 has only an instrument rating. I did not count VD, because its "CC" rating (A12) appears to be a country ceiling rather than an issuer rating.
JSON: {"count": 5}
csv run 3
5. The issuers are E01, E02 (with E03 as the same LEI), E05, E06 and E08. E07's rating was withdrawn (A19), E04 has no issuer rating, and VD's CC record is not an issuer rating.
JSON: {"count": 5}
csv run 4
5. As of 1 Oct 2026 the issuers holding an LTIDR are E01, E02 (counting E03 as the same entity), E05, E06 (A-, on watch but still rated) and E08 (RD). E07 was withdrawn (A19), E04 has no issuer rating, and the sovereign's CC record isn't an issuer rating.
JSON: {"count": 5}
csv run 5
5. The issuers are E01, E02 (counted once with its duplicate E03), E05, E06 and E08. E07's rating was withdrawn (A19). E04 has only instrument-level ratings, and VD's "CC" rating (A12) is a country ceiling rather than an issuer rating.
JSON: {"count": 5}
rdf run 1
5. The issuers with a current issuer rating are E01, E02 (counted once with E03, same LEI), E05, E06 (A- on watch, A17) and E08 (RD). E07 is excluded because its rating was withdrawn (A19). VD's rating is of a different type (CC), which I did not count as an issuer rating, and E04 has no rating.
JSON: {"count": 5}
rdf run 2
5. The issuers are E01, E02 (the same entity as E03), E05, E06 and E08. E07 is excluded because its rating was withdrawn (A19). VD is excluded because its rating is of type CC (A12), which I read as a country ceiling rather than an issuer rating, though the data does not define it. This count would be 6 if VD were included.
JSON: {"count": 5}
rdf run 3
5: E01, E02 (same entity as E03), E05, E06 and E08.
- E07 is excluded because its rating was withdrawn (A19).
- E04 has no rating of its own.
- VD is excluded because its only rating is type CC (A12), which I read as a country ceiling rather than an issuer rating. The data doesn't define CC, so if it is an issuer rating the count would be 6.
JSON: {"count": 5}
rdf run 4
5. As of 1 Oct 2026, E01, E02 (same entity as E03 by LEI), E05, E06 and E08 hold long-term issuer ratings (A03, A09, A13/A14, A17, A22). E07 is excluded because its rating was withdrawn (A19), and E04 has no rating of its own. I also excluded VD, because its record (A12) is a "CC" type that isn't clearly an issuer rating. Counting it would give 6.
JSON: {"count": 5}
rdf run 5
5. The issuers are E01, E02 (same entity as E03), E05, E06 (A17 is a Watch Negative, not a withdrawal) and E08 (RD). I excluded E07 (withdrawn, A19) and E04 (no rating of its own). I also excluded VD, whose only rating is the "CC" type (A12), which I don't read as an issuer rating; including it would make 6.
JSON: {"count": 5}
rdf+ontology run 1
5. The rated issuers are E01, E02 (the same entity as E03), E05, E06 and E08. E07 was withdrawn (A19), E04 has no rating of its own, and VD has only a Country Ceiling, which is not an issuer rating. I counted E08's RD as a rating because it sits on the long-term scale.
JSON: {"count": 5}
rdf+ontology run 2
4. As of 2026-10-01 the issuers with a current (non-withdrawn) LTIDR are E01 (BBB), E02/E03 (one entity, A), E05 (BB FC / BBB- LC), E06 (A-, on Watch), and E08 (RD). E07 was withdrawn (A19) and is excluded. That is E01, E02, E05, E06 and E08, so 5 distinct issuers, not 4. The count is 5. (VD holds only a Country Ceiling, not an issuer rating, and E04 has none.)
JSON: {"count": 5}
rdf+ontology run 3
5. As of 2026-10-01 the entities with an issuer rating (LTIDR/STIDR) are: E01 (A03/A04), E02/E03 (one entity, A09), E05 (A13/A14), E06 (A17, still A- on watch), and E08 (A22, RD). E07 is withdrawn (A19), and VD has only a Country Ceiling, not an issuer rating. E04 has none.
JSON: {"count": 5}
rdf+ontology run 4
**6.** Holders of a current issuer rating (LTIDR/STIDR) on 2026-10-01 are E01 (A03/A04), E02/E03 (same LEI, A08/A09), E05 (A13/A14), E06 (A17, a Watch leaves the rating A-), and E08 (RD, A22). E07 was withdrawn (A19), VD has only a Country Ceiling, and E04 has no issuer rating.
JSON: {"count": 5}
rdf+ontology run 5
5. The issuers with an issuer rating on 1 Oct 2026 are E01, E02 (the same entity as E03), E05, E06 and E08 (currently RD). E07 was withdrawn (A19). E04 has no issuer rating. VD has only a Country Ceiling, which is not a rating of anyone.
JSON: {"count": 5}
csv+ontology run 1
5. The issuers holding an LTIDR or STIDR on 1 Oct 2026 are E01, E02/E03 (one entity), E05, E06 and E08. E08's RD is still a rating. E07 was withdrawn (A19), E04 has no rating of its own, and VD has only a Country Ceiling.
JSON: {"count": 5}
csv+ontology run 2
4. As of 2026-10-01 the issuers with a current issuer rating are E01 (BBB), E02/E03 (A, same LEI, so one entity), E05 (BB/BBB-) and E06 (A- on Watch, A17 doesn't change it). E07 was withdrawn (A19), and E08 is at RD (A22). Counting E08 as holding an issuer rating would give 5, since RD is a rating on the scale. I counted it as holding one: RD is on the scale and it was not withdrawn. So the count is 5: E01, E02/E03, E05, E06, E08.
JSON: {"count": 5}
csv+ontology run 3
5. The issuers are E01, E02 (E03 is the same entity), E05, E06 and E08. E04 has no issuer rating, E07's was withdrawn (A19), and the sovereign VD has only a Country Ceiling.
JSON: {"count": 5}
csv+ontology run 4
5. As of 2026-10-01 the entities with a current LTIDR are E01 (BBB), E02/E03 (A, one entity), E05 (BB FC, BBB- LC), E06 (A-, on Watch but still rated), and E08 (RD), which is five. E07 was withdrawn (A19), E04 has no issuer rating of its own, and VD holds only a Country Ceiling. This counts RD as a rating held.
JSON: {"count": 5}
csv+ontology run 5
5. As of 1 Oct 2026 the issuers holding an issuer rating are:
- E01 (BBB)
- E02/E03 (A, one entity)
- E05 (BB FC and BBB- LC)
- E06 (A-, on Watch only)
- E08 (RD)
Excluded:
- E04 has no rating of its own.
- E07's rating was withdrawn (A19).
- VD has only a Country Ceiling.
JSON: {"count": 5}