Q28, run 2026-11-04-1644-haiku

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What is the Republic of Corvenia's foreign-currency issuer rating?

Tests: Ceiling versus sovereign rating: Corvenia's ceiling (A) is not its rating (BBB+).

Expected: rating = BBB+

✅ R1 csv run 1 graded by code

BBB+. The FC issuer rating of the Republic of Corvenia (CV) is BBB+ (A38). Its CC rating of A (A37) is a different rating type.

JSON: {"rating": "BBB+"}

✅ R1 csv run 2 graded by code

BBB+ (A38, FC). This is below the country ceiling of A (A37).

JSON: {"rating": "BBB+"}

✅ R1 csv run 3 graded by code

BBB+. A38 is the current foreign-currency issuer rating.

JSON: {"rating": "BBB+"}

✅ R1 csv run 4 graded by code

BBB+. A38 (LTIDR, FC, 2024-01-01).

JSON: {"rating": "BBB+"}

✅ R1 csv run 5 graded by code

BBB+. This is the FC rating on CV (A38).

JSON: {"rating": "BBB+"}

✅ R2 rdf run 1 graded by code

BBB+
CV's foreign-currency issuer rating is BBB+ (A38, 2024-01-01), below its country ceiling of A (A37).

JSON: {"rating": "BBB+"}

✅ R2 rdf run 2 graded by code

BBB+. This is A38 (CV, FC, LTIDR).

JSON: {"rating": "BBB+"}

✅ R2 rdf run 3 graded by code

BBB+. The Republic of Corvenia's foreign-currency issuer rating is BBB+ (A38); its CC-type record (A37, A) is the ceiling.

JSON: {"rating": "BBB+"}

✅ R2 rdf run 4 graded by code

BBB+. A38 is the foreign-currency issuer rating for CV (2024-01-01). A37 (A) is the country ceiling, not an issuer rating.

JSON: {"rating": "BBB+"}

✅ R2 rdf run 5 graded by code

BBB+
Republic of Corvenia's FC issuer rating is BBB+ (A38, LTIDR, FC).

JSON: {"rating": "BBB+"}

✅ R6 rdf+ontology run 1 graded by code

BBB+. A38 is the sovereign's FC issuer rating. A37 (A) is a Country Ceiling, which the ontology says is not the sovereign's rating.

JSON: {"rating": "BBB+"}

✅ R6 rdf+ontology run 2 graded by code

BBB+.
CV's FC long-term rating is BBB+ (A38). Its ceiling, A37, is a separate CC record.

JSON: {"rating": "BBB+"}

✅ R6 rdf+ontology run 3 graded by code

BBB+. A38 (AS, FC) is the FC issuer rating of CV; the CV Country Ceiling (A37) is A, a different thing.

JSON: {"rating": "BBB+"}

✅ R6 rdf+ontology run 4 graded by code

BBB+. CV's FC issuer rating is A38 (BBB+, 2024-01-01); A37 is a ceiling, not an issuer rating.

JSON: {"rating": "BBB+"}

✅ R6 rdf+ontology run 5 graded by code

BBB+. This is the FC issuer rating from A38 (2024-01-01), and no later action changed it.

JSON: {"rating": "BBB+"}

✅ R5 csv+ontology run 1 graded by code

BBB+. This is the Republic of Corvenia's FC LTIDR (A38). The A37 action is a Country Ceiling, not an issuer rating.

JSON: {"rating": "BBB+"}

✅ R5 csv+ontology run 2 graded by code

BBB+. This is CV's FC LTIDR from A38 (2024-01-01).

JSON: {"rating": "BBB+"}

✅ R5 csv+ontology run 3 graded by code

BBB+. This is the Republic of Corvenia's FC issuer rating (A38, 2024-01-01).

JSON: {"rating": "BBB+"}

✅ R5 csv+ontology run 4 graded by code

BBB+. The Corvenia sovereign's FC issuer rating was assigned on 2024-01-01 (CV, A38). Its A Country Ceiling (A37) is not an issuer rating.

JSON: {"rating": "BBB+"}

✅ R5 csv+ontology run 5 graded by code

BBB+
CV's FC issuer rating is BBB+ (A38). Its A rating (A37) is a Country Ceiling, not an issuer rating.

JSON: {"rating": "BBB+"}

✅ R4 csv+markdown run 1 graded by code

BBB+. A38 (2024-01-01) is the FC issuer rating for the Republic of Corvenia.

JSON: {"rating": "BBB+"}

✅ R4 csv+markdown run 2 graded by code

BBB+. The Republic of Corvenia's FC issuer rating is BBB+ (A38). The A rating in A37 is its Country Ceiling, not an issuer rating.

JSON: {"rating": "BBB+"}

✅ R4 csv+markdown run 3 graded by code

BBB+. This is CV's FC LTIDR (A38). The CV ceiling of A (A37) is not its issuer rating.

JSON: {"rating": "BBB+"}

✅ R4 csv+markdown run 4 graded by code

BBB+. This is CV's FC issuer rating from A38.

JSON: {"rating": "BBB+"}

✅ R4 csv+markdown run 5 graded by code

BBB+. This is the sovereign's FC issuer rating (A38). Its Country Ceiling (A37) is A, which is a separate record.

JSON: {"rating": "BBB+"}

✅ R3 csv+padding run 1 graded by code

BBB+. This is the Republic of Corvenia's foreign-currency long-term rating (A38).

JSON: {"rating": "BBB+"}

✅ R3 csv+padding run 2 graded by code

BBB+ (A38, FC).

JSON: {"rating": "BBB+"}

✅ R3 csv+padding run 3 graded by code

BBB+. A38 is the FC rating (2024-01-01). The A- in A39 is local-currency.

JSON: {"rating": "BBB+"}

✅ R3 csv+padding run 4 graded by code

BBB+ (A38, foreign currency).

JSON: {"rating": "BBB+"}

✅ R3 csv+padding run 5 graded by code

BBB+. This is the FC rating in A38. The country ceiling is A (A37).

JSON: {"rating": "BBB+"}