Q29, run 2026-11-04-1712-sonnet

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What is the Republic of Valdoria's issuer rating?

Tests: Ceilings: Valdoria has a Country Ceiling and no issuer rating.

Expected: rating = none

✅ R1 csv run 1 graded by code

None. VD only has a Country Ceiling of BB (A12), which is not an issuer rating.

JSON: {"rating": "none"}

✅ R1 csv run 2 graded by code

None. VD only has a Country Ceiling of BB (A12), and no issuer rating.

JSON: {"rating": "none"}

✅ R1 csv run 3 graded by code

None. VD only has a country ceiling (A12), which is not an issuer rating.

JSON: {"rating": "none"}

✅ R1 csv run 4 graded by code

None. VD has only a Country Ceiling record (A12), not an issuer rating.

JSON: {"rating": "none"}

✅ R1 csv run 5 graded by code

None. VD has only a Country Ceiling of BB (A12), not an issuer rating.

JSON: {"rating": "none"}

✅ R10 executed run 1 graded by code

None. VD has no rating record, only a ceiling.

JSON: {"rating": "none"}

✅ R10 executed run 2 graded by code

None. VD has no rating records, only a ceiling.

JSON: {"rating": "none"}

✅ R10 executed run 3 graded by code

None. VD has no rating record, only a ceiling of BB.

JSON: {"rating": "none"}

✅ R10 executed run 4 graded by code

None. VD has a ceiling but no rating records.

JSON: {"rating": "none"}

✅ R10 executed run 5 graded by code

None. VD has no rating records.

JSON: {"rating": "none"}