Q28, run 2026-11-04-1723-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+

✅ R5 csv+ontology run 1 graded by code

BBB+. A38 is the sovereign's FC LTIDR. Its A rating (A37) is the Country Ceiling, not the issuer rating.

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

✅ R5 csv+ontology run 2 graded by code

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

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

✅ R5 csv+ontology run 3 graded by code

BBB+. CV's FC issuer rating is BBB+ (A38).

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

✅ R5 csv+ontology run 4 graded by code

BBB+ (A38, FC issuer rating). The CC action A37 (A) is the ceiling, not an issuer rating.

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

✅ R5 csv+ontology run 5 graded by code

BBB+. CV's FC issuer rating is A38 (2024-01-01). Its CC (A37, A) is a Country Ceiling, not an issuer rating.

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

✅ R7 csv+neutral run 1 graded by code

BBB+. A38 (LTIDR FC, CV, 2024-01-01) is the sovereign's FC issuer rating. A37 is the Country Ceiling, which is not an issuer rating.

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

✅ R7 csv+neutral run 2 graded by code

BBB+. CV's FC issuer rating is BBB+ (A38).

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

✅ R7 csv+neutral run 3 graded by code

BBB+. A38 (2024-01-01) is the sovereign's FC issuer rating. The CV ceiling of A (A37) is not the sovereign's rating.

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

✅ R7 csv+neutral run 4 graded by code

BBB+. A38 (2024-01-01) rates the Republic of Corvenia's FC issuer rating. Its A ceiling (A37) is not an issuer rating.

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

✅ R7 csv+neutral run 5 graded by code

BBB+.
A38 (2024-01-01, FC) is the sovereign's FC issuer rating. A37 (A) is the ceiling, not the rating.

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