Q27, run 2026-11-04-1643-sonnet

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How is Corvenia Power's 2032 note rated?

Tests: Instrument versus issuer: the subordinated note sits below the issuer.

Expected: rating = A-

✅ R1 csv run 1 graded by code

A- (A42).

JSON: {"rating": "A-"}

✅ R1 csv run 2 graded by code

A- (A42).

JSON: {"rating": "A-"}

✅ R1 csv run 3 graded by code

A- (A42).

JSON: {"rating": "A-"}

✅ R1 csv run 4 graded by code

A- (A42).

JSON: {"rating": "A-"}

✅ R1 csv run 5 graded by code

A- (A42).

JSON: {"rating": "A-"}

✅ R2 rdf run 1 graded by code

A- (A42).

JSON: {"rating": "A-"}

✅ R2 rdf run 2 graded by code

A- (A42).

JSON: {"rating": "A-"}

✅ R2 rdf run 3 graded by code

A- (A42, subordinated note I06).

JSON: {"rating": "A-"}

✅ R2 rdf run 4 graded by code

A- (A42).

JSON: {"rating": "A-"}

✅ R2 rdf run 5 graded by code

A-. This is A42.

JSON: {"rating": "A-"}

✅ R6 rdf+ontology run 1 graded by code

A- (A42).

JSON: {"rating": "A-"}

✅ R6 rdf+ontology run 2 graded by code

A-, from A42 (I06).

JSON: {"rating": "A-"}

✅ R6 rdf+ontology run 3 graded by code

A-. I06 was assigned A- in A42.

JSON: {"rating": "A-"}

✅ R6 rdf+ontology run 4 graded by code

A- (A42).

JSON: {"rating": "A-"}

✅ R6 rdf+ontology run 5 graded by code

A- (A42).

JSON: {"rating": "A-"}

✅ R5 csv+ontology run 1 graded by code

A-. A42 rates I06 at A-, which is subordinated debt below E15's FC rating of A and within the CV ceiling of A.

JSON: {"rating": "A-"}

✅ R5 csv+ontology run 2 graded by code

A- (A42).

JSON: {"rating": "A-"}

✅ R5 csv+ontology run 3 graded by code

A- (A42).

JSON: {"rating": "A-"}

✅ R5 csv+ontology run 4 graded by code

A-, from A42.

JSON: {"rating": "A-"}

✅ R5 csv+ontology run 5 graded by code

A-. I06 was assigned A- (A42).

JSON: {"rating": "A-"}

✅ R4 csv+markdown run 1 graded by code

A- (A42).

JSON: {"rating": "A-"}

✅ R4 csv+markdown run 2 graded by code

A- (A42).

JSON: {"rating": "A-"}

✅ R4 csv+markdown run 3 graded by code

A- (A42).

JSON: {"rating": "A-"}

✅ R4 csv+markdown run 4 graded by code

A-, from A42.

JSON: {"rating": "A-"}

✅ R4 csv+markdown run 5 graded by code

A- (A42).

JSON: {"rating": "A-"}

✅ R3 csv+padding run 1 graded by code

A- (A42).

JSON: {"rating": "A-"}

✅ R3 csv+padding run 2 graded by code

A-, from A42.

JSON: {"rating": "A-"}

✅ R3 csv+padding run 3 graded by code

A- (A42).

JSON: {"rating": "A-"}

✅ R3 csv+padding run 4 graded by code

A- (A42).

JSON: {"rating": "A-"}

✅ R3 csv+padding run 5 graded by code

A- (A42).

JSON: {"rating": "A-"}