Q16, run 2026-11-04-1712-sonnet

Has Marlow Utilities' rating changed since 1 January 2025?

Tests: Watch versus rating: a Watch placement and an affirmation leave the rating where it was.

Expected: changed = no

✅ R1 csv run 1 graded by code

No. It was BBB+ on 2025-01-01 (A36) and is still BBB+ (A33, A35).

JSON: {"changed": "no"}

✅ R1 csv run 2 graded by code

No. E14 was BBB+ on 2025-01-01 and is still BBB+ (A33, A35, A36).

JSON: {"changed": "no"}

✅ R1 csv run 3 graded by code

No. It was BBB+ on 2025-01-01 and is still BBB+ (A33, A35). The RWN in A35 is a watch, not a rating change.

JSON: {"changed": "no"}

✅ R1 csv run 4 graded by code

No. It was BBB+ on 2025-01-01 and is BBB+ now (A33). A35 was a watch, not a rating change.

JSON: {"changed": "no"}

✅ R1 csv run 5 graded by code

No. It was BBB+ on 2025-01-01 and is still BBB+ (A33). The Watch in A35 was not a rating change.

JSON: {"changed": "no"}

✅ R10 executed run 1 graded by code

No. E14 was BBB+ on 1 January 2025 and is BBB+ now (A33). The intervening Watch status did not change the rating itself.

JSON: {"changed": "no"}

✅ R10 executed run 2 graded by code

No. E14 was BBB+ on 1 January 2025 (A36) and is BBB+ now (A33). It went through a Watch period (A35) in between.

JSON: {"changed": "no"}

✅ R10 executed run 3 graded by code

No. E14 was BBB+ on 1 Jan 2025 (A36) and is BBB+ now (A33). Only the watch status changed in between (A35).

JSON: {"changed": "no"}

✅ R10 executed run 4 graded by code

No. The rating was BBB+ on 2025-01-01 and is BBB+ now (A33). Only the watch and outlook changed in between.

JSON: {"changed": "no"}

✅ R10 executed run 5 graded by code

No. The rating was BBB+ on 1 Jan 2025 (A36) and is still BBB+ (A33). Only the watch and outlook changed.

JSON: {"changed": "no"}