Q25, run 2026-11-04-1824-haiku

How many instruments held an investment-grade rating on 1 October 2026?

Tests: Instrument ratings: counted on the instrument's own rating, not its issuer's.

Expected: count = 5

❌ R1 csv run 1 graded by code

6. The investment-grade instruments are I01 (BBB), I03 (A), I05 (BBB+), I06 (A-), I07 (BBB-) and I08 (A). I02 (BB+) and I04 (BB) are not.

JSON: {"count": 6}

Why: count: expected 5, got 6

❌ R1 csv run 2 graded by code

6. I01 (BBB), I03 (A), I05 (BBB+), I06 (A-), I07 (BBB-) and I08 (A) are investment grade. I02 (BB+) and I04 (BB) are not. I08's action code EX is not defined in the data, so if it does not represent a live rating the count would be 5.

JSON: {"count": 6}

Why: count: expected 5, got 6

✅ R1 csv run 3 graded by code

5. The investment-grade instruments are I01 (BBB), I03 (A), I05 (BBB+), I06 (A-) and I07 (BBB-). I08's last action is EX (A47), which I've read as no longer rated; that reading is an assumption because the code is undefined.

JSON: {"count": 5}

❌ R1 csv run 4 graded by code

6. These are I01 (BBB), I03 (A), I05 (BBB+), I06 (A-), I07 (BBB-) and I08 (A). I08's only action is "EX", which is undefined; if it means exited, the count is 5.

JSON: {"count": 6}

Why: count: expected 5, got 6

❌ R1 csv run 5 graded by code

6. I01 (BBB), I03 (A), I05 (BBB+), I06 (A-), I07 (BBB-) and I08 (A) are investment grade; I02 and I04 are not.

JSON: {"count": 6}

Why: count: expected 5, got 6

✅ R5 csv+ontology run 1 graded by code

5. The investment-grade instruments are I01 (BBB), I03 (A), I05 (BBB+), I06 (A-) and I07 (BBB-). I08 is excluded because its EX record is an expected rating, not a rating, and I02 and I04 are below investment grade.

JSON: {"count": 5}

✅ R5 csv+ontology run 2 graded by code

5. The investment-grade instruments are I01 (BBB), I03 (A), I05 (BBB+), I06 (A-) and I07 (BBB-). I08 is only "Expected" (A47), so it is unrated.

JSON: {"count": 5}

✅ R5 csv+ontology run 3 graded by code

5. These are I01 (BBB), I03 (A), I05 (BBB+), I06 (A-) and I07 (BBB-). I08 is only Expected (A47), so it is unrated, and I02 and I04 are speculative grade.

JSON: {"count": 5}

✅ R5 csv+ontology run 4 graded by code

5.
I01 (BBB, A06), I03 (A, A11), I05 (BBB+, A29), I06 (A-, A42) and I07 (BBB-, A45) are investment grade. I08 is only Expected (A47), so it is unrated.

JSON: {"count": 5}

✅ R5 csv+ontology run 5 graded by code

5 instruments are investment grade on 1 Oct 2026: I01 (BBB), I03 (A), I05 (BBB+), I06 (A-) and I07 (BBB-).

JSON: {"count": 5}

✅ R8 csv+axioms run 1 graded by code

5. I01, I03, I05, I06 and I07 held investment-grade ratings on 1 Oct 2026. I08 has only an expected rating (A47, EX), which is not in force.

JSON: {"count": 5}

✅ R8 csv+axioms run 2 graded by code

5
I01 (BBB), I03 (A), I05 (BBB+), I06 (A-) and I07 (BBB-) are investment grade. I02 and I04 are below, and I08 has only an expected rating (EX), which is not in force.

JSON: {"count": 5}

✅ R8 csv+axioms run 3 graded by code

5. The investment-grade instruments are I01 (BBB), I03 (A), I05 (BBB+), I06 (A-), and I07 (BBB-). I08 has only an expected rating (A47), which is not in force.

JSON: {"count": 5}

✅ R8 csv+axioms run 4 graded by code

5
Investment-grade instruments on that date: I01 (BBB), I03 (A), I05 (BBB+), I06 (A-), I07 (BBB-). I02 is BB+, I04 is BB, and I08 has only an expected rating.

JSON: {"count": 5}

✅ R8 csv+axioms run 5 graded by code

5. The investment-grade in-force instrument ratings are I01 (BBB), I03 (A), I05 (BBB+), I06 (A-) and I07 (BBB-). I02 (BB+) and I04 (BB) are not, and I08 has only an expected rating (A47), which is not in force.

JSON: {"count": 5}

✅ R9 csv+axioms+markdown run 1 graded by code

5. The investment-grade instruments on 2026-10-01 are I01 (BBB), I03 (A), I05 (BBB+), I06 (A-) and I07 (BBB-). I08 is only an expected rating (EX, A47), so it is unrated.

JSON: {"count": 5}

✅ R9 csv+axioms+markdown run 2 graded by code

5. Investment-grade instruments are I01 (BBB), I03 (A), I05 (BBB+), I06 (A-) and I07 (BBB-). I02 and I04 are below, and I08 has only an expected rating.

JSON: {"count": 5}

✅ R9 csv+axioms+markdown run 3 graded by code

5. The investment-grade instruments are I01 (BBB), I03 (A), I05 (BBB+), I06 (A-) and I07 (BBB-). I02 and I04 are BB+ and BB, and I08 is unrated because its only action is EX (A47).

JSON: {"count": 5}

✅ R9 csv+axioms+markdown run 4 graded by code

5. I01 (BBB), I03 (A), I05 (BBB+), I06 (A-) and I07 (BBB-) are investment grade. I08 has only an expected rating (A47, EX), which is not a rating.

JSON: {"count": 5}

✅ R9 csv+axioms+markdown run 5 graded by code

5
On 2026-10-01 the investment-grade instruments are I01 (BBB), I03 (A), I05 (BBB+), I06 (A-) and I07 (BBB-). I08 has only an expected rating (A47), so it is not rated.

JSON: {"count": 5}