Q2, run 2026-11-04-1738-sonnet-query

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Has Kestrel Energy been downgraded in 2026?

Tests: Outlook versus rating: an affirmation with a negative outlook is not a rating change.

Expected: downgraded = no

✅ D1 sql run 1 graded by code · query session

No. The only 2026 action on E01 is A03, an affirmation at BBB with a Negative outlook.

JSON: {"downgraded": "no"}

✅ D1 sql run 2 graded by code · query session

No. E01 had only affirmations in 2026 (A03 and A04, 2026-02-10), where the outlook moved to Negative; the one downgrade, A02, was in 2025.

JSON: {"downgraded": "no"}

✅ D1 sql run 3 graded by code · query session

No. E01's only 2026 action is an affirmation at BBB with a Negative outlook (A03, 2026-02-10).

JSON: {"downgraded": "no"}

✅ D1 sql run 4 graded by code · query session

No. The only 2026 action, A03, is an affirmation at BBB with a Negative outlook.

JSON: {"downgraded": "no"}

✅ D1 sql run 5 graded by code · query session

No. The only 2026 action, A03 (2026-02-10), is an affirmation at BBB with the outlook moved to Negative.

JSON: {"downgraded": "no"}

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

No. The only 2026 actions on E01 are A03 and A04, both affirmations. A03 changed the outlook to NEG, not the rating.

JSON: {"downgraded": "no"}

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

No. E01's only 2026 actions are affirmations (A03, A04). A03 moved the outlook to NEG without changing the rating.

JSON: {"downgraded": "no"}

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

No. E01's only 2026 action on its long-term rating is A03, an affirmation (BBB, outlook to Negative).

JSON: {"downgraded": "no"}

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

No. The only 2026 action on Kestrel Energy (E01) is A03, an affirmation at BBB with the outlook moved to Negative.

JSON: {"downgraded": "no"}

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

No. The only 2026 action on E01 is A03, an affirmation at BBB with the outlook moved to Negative, which is not a downgrade.

JSON: {"downgraded": "no"}

✅ D4 sparql run 1 graded by code · query session

No. The only 2026 action on E01 was an affirmation at BBB with a Negative outlook (A03, 2026-02-10).

JSON: {"downgraded": "no"}

✅ D4 sparql run 2 graded by code · query session

No. A03 (2026-02-10) only affirmed BBB; the downgrade was A02 in 2025.

JSON: {"downgraded": "no"}

✅ D4 sparql run 3 graded by code · query session

No. The only 2026 action is A03 (2026-02-10), an affirmation at BBB with the outlook moved to Negative.

JSON: {"downgraded": "no"}

✅ D4 sparql run 4 graded by code · query session

No. The only 2026 actions on E01 are affirmations (A03, A04); the downgrade (A02) was in 2025.

JSON: {"downgraded": "no"}

✅ D4 sparql run 5 graded by code · query session

No. The only 2026 action on E01 was an affirmation at BBB with a Negative outlook (A03, 2026-02-10).

JSON: {"downgraded": "no"}

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

No. The only 2026 action on E01 is A03, an affirmation with the outlook revised to Negative, which is not a downgrade.

JSON: {"downgraded": "no"}

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

No. The only 2026 action on E01 is A03, an affirmation (BBB, outlook moved to Negative).

JSON: {"downgraded": "no"}

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

No. E01's only 2026 action is A03 (2026-02-10), an affirmation with the outlook revised to Negative.

JSON: {"downgraded": "no"}

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

No. The only 2026 action on E01 is an affirmation at BBB with the outlook revised to Negative (A03), which is not a downgrade.

JSON: {"downgraded": "no"}

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

No. A03 (2026-02-10) is an affirmation with the outlook revised to Negative, which is not a downgrade.

JSON: {"downgraded": "no"}