Q10, run 2026-11-04-1738-sonnet-query

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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

✅ D1 sql run 1 graded by code · query session

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

JSON: {"investment_grade": "depends"}

✅ D1 sql run 2 graded by code · query session

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

JSON: {"investment_grade": "depends"}

✅ D1 sql run 3 graded by code · query session

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

JSON: {"investment_grade": "depends"}

✅ D1 sql run 4 graded by code · query session

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

JSON: {"investment_grade": "depends"}

✅ D1 sql run 5 graded by code · query session

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

JSON: {"investment_grade": "depends"}

✅ D2 sql+markdown run 1 graded by code · query session

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

JSON: {"investment_grade": "depends"}

✅ D2 sql+markdown run 2 graded by code · query session

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

JSON: {"investment_grade": "depends"}

✅ D2 sql+markdown run 3 graded by code · query session

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

JSON: {"investment_grade": "depends"}

✅ D2 sql+markdown run 4 graded by code · query session

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

JSON: {"investment_grade": "depends"}

✅ D2 sql+markdown run 5 graded by code · query session

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

JSON: {"investment_grade": "depends"}

✅ D4 sparql run 1 graded by code · query session

Depends. Local currency is BBB- (investment grade) and foreign currency is BB (not).

JSON: {"investment_grade": "depends"}

✅ D4 sparql run 2 graded by code · query session

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

JSON: {"investment_grade": "depends"}

✅ D4 sparql run 3 graded by code · query session

Depends. E05 is BB on FC and BBB- (investment grade) on LC.

JSON: {"investment_grade": "depends"}

✅ D4 sparql run 4 graded by code · query session

Depends. Its local-currency rating is BBB- (investment grade) and its foreign-currency rating is BB (not).

JSON: {"investment_grade": "depends"}

✅ D4 sparql run 5 graded by code · query session

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

JSON: {"investment_grade": "depends"}

❌ D5 sparql+ontology run 1 graded by code · query session

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

JSON: {"investment_grade": "no"}

Why: investment_grade: expected depends, got no

✅ D5 sparql+ontology run 2 graded by code · query session

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

JSON: {"investment_grade": "depends"}

✅ D5 sparql+ontology run 3 graded by code · query session

Depends. E05 is BB on a foreign-currency basis (speculative grade) and BBB- on a local-currency basis (investment grade).

JSON: {"investment_grade": "depends"}

✅ D5 sparql+ontology run 4 graded by code · query session

Depends. E05 is BB on the foreign-currency basis (speculative) and BBB- on the local-currency basis (investment grade).

JSON: {"investment_grade": "depends"}

✅ D5 sparql+ontology run 5 graded by code · query session

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

JSON: {"investment_grade": "depends"}