Q10, run 2026-11-04-2028-haiku

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Is Valdoria Telecom investment grade?

Tests: Ambiguity: 'the rating' of a company is several ratings; the investment-grade line is BBB-.

Expected: investment_grade = depends

✅ R1 csv run 1 graded by code

Depends on currency. E05 is BBB- in local currency (A13, investment grade) but BB in foreign currency (A14, not investment grade).

JSON: {"investment_grade": "depends", "rating": "BB (FC) / BBB- (LC)"}

✅ R1 csv run 2 graded by code

Depends on currency basis. LC rating is BBB- (A13), which is investment grade, while FC rating is BB (A14), which is not.

JSON: {"investment_grade": "depends"}

✅ R1 csv run 3 graded by code

Depends on currency. Local-currency BBB- (A13) is investment grade, but foreign-currency BB (A14) is not.

JSON: {"investment_grade": "depends"}

✅ R1 csv run 4 graded by code

Depends on currency. The LC rating is BBB- (A13), which is investment grade, and the FC rating is BB (A14), which is not.

JSON: {"investment_grade": "depends"}

✅ R1 csv run 5 graded by code

Depends on the currency. Valdoria Telecom's local-currency rating is BBB- (investment grade, A13) and its foreign-currency rating is BB (not investment grade, A14).

JSON: {"investment_grade": "depends"}

❌ R5 csv+ontology run 1 graded by code

No
Valdoria Telecom's headline FC rating is BB (A14), which is speculative grade. Its LC rating is BBB- (A13), which is investment grade, but the ontology treats FC as the headline.

JSON: {"investment_grade": "no"}

Why: investment_grade: expected depends, got no

❌ R5 csv+ontology run 2 graded by code

No. The headline rating is the FC rating, BB (A14), which is below investment grade. The LC rating is BBB- (A13), which is investment grade, but that is not the headline.

JSON: {"investment_grade": "no"}

Why: investment_grade: expected depends, got no

✅ R5 csv+ontology run 3 graded by code

Depends. The FC headline rating is BB (A14), which is not investment grade, but the LC rating is BBB- (A13), which is. The question doesn't say which basis it means.

JSON: {"investment_grade": "depends"}

❌ R5 csv+ontology run 4 graded by code

No. Its headline FC rating is BB (A14), below BBB-. Its LC rating is BBB- (A13), which is investment grade, but the headline is the FC rating.

JSON: {"investment_grade": "no"}

Why: investment_grade: expected depends, got no

✅ R5 csv+ontology run 5 graded by code

Depends. The headline FC rating is BB (A14, speculative grade), but the local-currency rating is BBB- (A13, investment grade).

JSON: {"investment_grade": "depends"}

✅ R4 csv+markdown run 1 graded by code

Depends. The LC rating is BBB- (A13), which is investment grade, but the FC rating is BB (A14), which is not.

JSON: {"investment_grade": "depends"}

✅ R4 csv+markdown run 2 graded by code

Depends. The headline FC rating is BB (A14), which is speculative grade, but the LC rating is BBB- (A13), which is investment grade.

JSON: {"investment_grade": "depends"}

❌ R4 csv+markdown run 3 graded by code

No. Its headline FC issuer rating is BB (A14). Its LC rating is BBB- (A13), which is investment grade, so the answer depends on which rating you read as headline.

JSON: {"investment_grade": "no"}

Why: investment_grade: expected depends, got no

❌ R4 csv+markdown run 4 graded by code

No, on the headline FC rating of BB (A14). Its LC rating of BBB- (A13) would be investment grade, so the answer depends on which rating is meant.

JSON: {"investment_grade": "no"}

Why: investment_grade: expected depends, got no

✅ R4 csv+markdown run 5 graded by code

Depends. The FC rating (A14, BB) is speculative and is the headline rating, but the LC rating (A13, BBB-) is investment grade, and the data does not say which one is meant.

JSON: {"investment_grade": "depends"}

✅ R8 csv+axioms run 1 graded by code

Depends. The LC rating is BBB- (A13), which is investment grade, but the FC rating is BB (A14), which is not.

JSON: {"investment_grade": "depends"}

✅ R8 csv+axioms run 2 graded by code

Depends. Local-currency BBB- (A13) is investment grade; foreign-currency BB (A14) is not.

JSON: {"investment_grade": "depends"}

✅ R8 csv+axioms run 3 graded by code

Depends on currency basis. The LC rating is BBB- (A13), which is investment grade, but the FC rating is BB (A14), which is not.

JSON: {"investment_grade": "depends"}

✅ R8 csv+axioms run 4 graded by code

Depends. The LC rating is BBB- (A13), which is investment grade, but the FC rating is BB (A14), which is not.

JSON: {"investment_grade": "depends"}

✅ R8 csv+axioms run 5 graded by code

Depends. The LC rating is BBB- (A13), which is investment grade, but the FC rating is BB (A14), which is not.

JSON: {"investment_grade": "depends"}