Q10, run 2026-11-05-1227-sonnet

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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. The local-currency rating is BBB- (investment grade, A13) and the foreign-currency rating is BB (not investment grade, A14).

JSON: {"investment_grade": "depends"}

✅ R1 csv run 2 graded by code

It depends. The local-currency rating is BBB- (investment grade, A13) and the foreign-currency rating is BB (not investment grade, A14).

JSON: {"investment_grade": "depends"}

✅ R1 csv run 3 graded by code

Depends. The local-currency rating is BBB- (A13, investment grade) and the foreign-currency rating is BB (A14, not investment grade).

JSON: {"investment_grade": "depends"}

✅ R1 csv run 4 graded by code

Depends. The local-currency rating is BBB- (investment grade, A13) and the foreign-currency rating is BB (not, A14).

JSON: {"investment_grade": "depends"}

✅ R1 csv run 5 graded by code

Depends. The local-currency rating is BBB- (A13, investment grade) and the foreign-currency rating is BB (A14, not investment grade).

JSON: {"investment_grade": "depends"}

✅ R2 rdf run 1 graded by code

Depends. E05's LC rating is BBB- (investment grade) and its FC rating is BB (not) (A13, A14).

JSON: {"investment_grade": "depends"}

✅ R2 rdf run 2 graded by code

Depends. Its LC rating is BBB- (investment grade, A13) but its FC rating is BB (not investment grade, A14).

JSON: {"investment_grade": "depends"}

✅ R2 rdf run 3 graded by code

Depends. E05 is BB on a foreign-currency basis (A14) and BBB- on a local-currency basis (A13).

JSON: {"investment_grade": "depends"}

✅ R2 rdf run 4 graded by code

Depends. E05 is BBB- in local currency (investment grade) and BB in foreign currency (not investment grade).

JSON: {"investment_grade": "depends"}

✅ R2 rdf run 5 graded by code

Depends. Its foreign-currency rating is BB (non-investment grade) and its local-currency rating is BBB- (investment grade) (A14, A13).

JSON: {"investment_grade": "depends"}

✅ R6 rdf+ontology run 1 graded by code

Depends. Its LC rating is BBB- (investment grade, A13), but its FC rating is BB (speculative grade, A14).

JSON: {"investment_grade": "depends"}

✅ R6 rdf+ontology run 2 graded by code

Depends. E05's FC rating is BB (speculative, A14), but its LC rating is BBB- (investment grade, A13).

JSON: {"investment_grade": "depends"}

✅ R6 rdf+ontology run 3 graded by code

Depends. E05's LC rating is BBB- (investment grade, A13) but its FC rating is BB (speculative, A14).

JSON: {"investment_grade": "depends"}

✅ R6 rdf+ontology run 4 graded by code

Depends. E05's FC rating is BB (speculative) and its LC rating is BBB- (investment grade).

JSON: {"investment_grade": "depends"}

✅ R6 rdf+ontology run 5 graded by code

Depends. E05's foreign-currency rating is BB (speculative) and its local-currency rating is BBB- (investment grade).

JSON: {"investment_grade": "depends"}

✅ R5 csv+ontology run 1 graded by code

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

JSON: {"investment_grade": "depends"}

✅ R5 csv+ontology run 2 graded by code

Depends. Its LC rating is BBB- (investment grade, A13) and its FC rating is BB (speculative grade, A14).

JSON: {"investment_grade": "depends"}

❌ R5 csv+ontology run 3 graded by code

No on the headline FC rating (BB, A14), but its LC rating is investment grade (BBB-, A13). The answer depends on the currency basis, and I took the FC rating as the headline.

JSON: {"investment_grade": "no"}

Why: investment_grade: expected depends, got no

❌ R5 csv+ontology run 4 graded by code

No. Its headline foreign-currency rating is BB (A14), which is speculative grade. Only the local-currency rating, BBB- (A13), is investment grade.

JSON: {"investment_grade": "no"}

Why: investment_grade: expected depends, got no

✅ R5 csv+ontology run 5 graded by code

Depends. The local-currency rating is BBB- (A13), which is investment grade. The foreign-currency rating is BB (A14), which is not.

JSON: {"investment_grade": "depends"}

✅ R4 csv+markdown run 1 graded by code

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

JSON: {"investment_grade": "depends"}

✅ R4 csv+markdown run 2 graded by code

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

JSON: {"investment_grade": "depends"}

✅ R4 csv+markdown run 3 graded by code

Depends. The local-currency rating is BBB- (A13), which is investment grade, but the foreign-currency rating is BB (A14), which is not.

JSON: {"investment_grade": "depends"}

✅ R4 csv+markdown run 4 graded by code

Depends. The foreign-currency rating is BB (speculative) and the local-currency rating is BBB- (investment grade).

JSON: {"investment_grade": "depends"}

✅ R4 csv+markdown run 5 graded by code

Depends. Its LC rating is BBB- (investment grade, A13) but its headline FC rating is BB (speculative, A14).

JSON: {"investment_grade": "depends"}

✅ R3 csv+padding run 1 graded by code

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

JSON: {"investment_grade": "depends"}

✅ R3 csv+padding run 2 graded by code

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

JSON: {"investment_grade": "depends"}

✅ R3 csv+padding run 3 graded by code

Depends. E05's local-currency rating of BBB- is investment grade (A13), but its foreign-currency rating of BB is not (A14).

JSON: {"investment_grade": "depends"}

✅ R3 csv+padding run 4 graded by code

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

JSON: {"investment_grade": "depends"}

✅ R3 csv+padding run 5 graded by code

It depends on the basis. E05 is BB in foreign currency (A14), which is not investment grade, and BBB- in local currency (A13), which is.

JSON: {"investment_grade": "depends"}

✅ R10 executed run 1 graded by code

Depends. Its foreign-currency rating is BB (sub-investment grade) and its local-currency rating is BBB- (investment grade).

JSON: {"investment_grade": "depends"}

✅ R10 executed run 2 graded by code

Depends. E05 is BB in foreign currency (A14), which is below investment grade, and BBB- in local currency (A13), which is investment grade.

JSON: {"investment_grade": "depends"}

✅ R10 executed run 3 graded by code

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

JSON: {"investment_grade": "depends"}

✅ R10 executed run 4 graded by code

Depends. E05's FC rating is BB (non-investment grade, A14), but its LC rating is BBB- (investment grade, A13).

JSON: {"investment_grade": "depends"}

✅ R10 executed run 5 graded by code

Depends. E05's LC rating is BBB- (investment grade, A13), but its FC rating is BB (not investment grade, A14).

JSON: {"investment_grade": "depends"}

✅ R7 csv+neutral run 1 graded by code

Depends. E05's LC rating is BBB- (investment grade, A13), but its FC rating is BB (speculative grade, A14).

JSON: {"investment_grade": "depends"}

✅ R7 csv+neutral run 2 graded by code

Depends. Its FC rating is BB (speculative) and its LC rating is BBB- (investment grade), per A14 and A13.

JSON: {"investment_grade": "depends"}

✅ R7 csv+neutral run 3 graded by code

Depends. The foreign-currency rating is BB (speculative grade), but the local-currency rating is BBB- (investment grade).

JSON: {"investment_grade": "depends"}

✅ R7 csv+neutral run 4 graded by code

Depends. Its LC rating is BBB- (investment grade) and its FC rating is BB (speculative), per A13 and A14.

JSON: {"investment_grade": "depends"}

✅ R7 csv+neutral run 5 graded by code

Depends. E05's LC rating is BBB- (investment grade, A13), but its FC rating is BB (speculative, A14).

JSON: {"investment_grade": "depends"}

✅ R8 csv+axioms run 1 graded by code

Depends. Its local-currency rating is BBB- (investment grade, A13) but its foreign-currency rating is BB (not, A14).

JSON: {"investment_grade": "depends"}

✅ R8 csv+axioms run 2 graded by code

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

JSON: {"investment_grade": "depends"}

✅ R8 csv+axioms run 3 graded by code

Depends. The local-currency rating is BBB- (investment grade, A13) and the foreign-currency rating is BB (not investment grade, A14).

JSON: {"investment_grade": "depends"}

✅ R8 csv+axioms run 4 graded by code

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

JSON: {"investment_grade": "depends"}

✅ R8 csv+axioms run 5 graded by code

Depends. The local-currency rating is BBB-, which is investment grade (A13), but the foreign-currency rating is BB, which is not (A14).

JSON: {"investment_grade": "depends"}

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

Depends. The foreign-currency rating is BB (speculative) and the local-currency rating is BBB- (investment grade).

JSON: {"investment_grade": "depends"}

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

Depends. The FC rating is BB (speculative) and the LC rating is BBB- (investment grade), so it turns on the currency basis.

JSON: {"investment_grade": "depends"}

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

Depends. Its foreign-currency rating is BB (speculative), but its local-currency rating is BBB- (investment grade).

JSON: {"investment_grade": "depends"}

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

Depends. E05's LC rating is BBB- (investment grade) and its FC rating is BB (not), so the answer turns on the currency basis.

JSON: {"investment_grade": "depends"}

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

Depends. E05 is BBB- (investment grade) on local currency but BB (speculative) on foreign currency (A13, A14).

JSON: {"investment_grade": "depends"}