D4 sparql, run 1: the query session

23 queries1 failed8 rounds

The opening prompt

## The data

You can't see the data, but you can query it. It is in an RDF store, described below. Write SPARQL 1.1 SELECT or ASK queries.

To run queries, reply with one or more fenced blocks (```sparql), and nothing else is needed:
each is run and its results sent back to you. You have up to 8 rounds of queries.
When you have what you need, reply with the final answers and no queries.

Prefixes:
```
PREFIX skos: <http://www.w3.org/2004/02/skos/core#>
PREFIX rdf: <http://www.w3.org/1999/02/22-rdf-syntax-ns#>
PREFIX rdfs: <http://www.w3.org/2000/01/rdf-schema#>
PREFIX xsd: <http://www.w3.org/2001/XMLSchema#>
PREFIX lad: <https://example.org/ladder/>
```

Classes and the properties their resources use:

- `lad:Entity`: `rdf:type`, `rdfs:label`, `lad:country`, `lad:entityType`, `lad:lei`, `lad:name`, `lad:parent`, `lad:sourceSystem`
- `lad:Instrument`: `rdf:type`, `rdfs:label`, `lad:currency`, `lad:description`, `lad:guarantor`, `lad:issuer`, `lad:maturity`, `lad:seniority`
- `lad:RatingAction`: `rdf:type`, `rdfs:label`, `lad:action`, `lad:ccyBasis`, `lad:comment`, `lad:date`, `lad:outlook`, `lad:ratedThing`, `lad:rating`, `lad:ratingType`, `lad:watch`

## Questions

Answer each question below from the data above. Start each answer on a new line with its
number in bold, like **Q1.**, give the direct answer first, then at most two sentences of
reasoning that cite the records (IDs) you relied on.

Then end with one JSON block (```json) holding the structured answer to each question listed
here, with exactly these fields, shaped like {"Q1": {"field": value}, ...}. Name entities by their record ID: the entity_id in the CSV files, or the part of the IRI after lad: in the RDF (E01, not Kestrel Energy plc).

- Q1: rating (a rating, or "none")
- Q2: downgraded ("yes", "no" or "depends")
- Q3: investment_grade ("yes", "no" or "depends"), rating (a rating, or "none")
- Q4: outlook (an outlook)
- Q5: risk_of (a record ID), rating (a rating, or "none")
- Q7: issuers (a list of record IDs)
- Q8: entities (a list of record IDs)
- Q9: count (a number)
- Q10: investment_grade ("yes", "no" or "depends")
- Q11: rating (a rating, or "none")
- Q12: rating (a rating, or "none")
- Q13: count (a number)
- Q14: rating (a rating, or "none")
- Q15: rating (a rating, or "none")
- Q16: changed ("yes", "no" or "depends")
- Q17: downgraded ("yes", "no" or "depends")
- Q18: issuers (a list of record IDs)
- Q19: issuers (a list of record IDs)
- Q20: in_default ("yes", "no" or "depends")
- Q21: entities (a list of record IDs)
- Q22: entities (a list of record IDs)
- Q23: rating (a rating, or "none")
- Q24: investment_grade ("yes", "no" or "depends")
- Q25: count (a number)
- Q26: rating (a rating, or "none")
- Q27: rating (a rating, or "none")
- Q28: rating (a rating, or "none")
- Q29: rating (a rating, or "none")
- Q30: entities (a list of record IDs)
- Q31: any ("yes", "no" or "depends")
- Q32: parent (a record ID)
- Q33: risk_of (a record ID), rating (a rating, or "none")
- Q34: same_group ("yes", "no" or "depends")
- Q35: count (a number)
- Q36: count (a number)
- Q37: count (a number)
- Q38: same ("yes", "no" or "depends")
- Q39: rating (a rating, or "none")
- Q40: count (a number)
- Q41: rating (a rating, or "none")
- Q42: country (a country code)
- Q43: count (a number)
- Q44: local_currency ("yes", "no" or "depends")
- Q45: above_ceiling ("yes", "no" or "depends")
- Q46: issuer_rating ("yes", "no" or "depends")
- Q47: rating (a rating, or "none")
- Q48: count (a number)

Q1. What was Kestrel Energy's rating on 1 January 2025?
Q2. Has Kestrel Energy been downgraded in 2026?
Q3. Is Kestrel Energy's 2031 note investment grade?
Q4. What is Northwind Holdings' current outlook?
Q5. Whose credit risk does a holder of the Northwind Finance 2030 notes take, and how is it rated?
Q6. Why is Valdoria Telecom's foreign-currency rating lower than its local-currency rating?
Q7. Which issuers were downgraded in 2026?
Q8. Which entities were in default on 1 October 2026?
Q9. As of 1 October 2026, how many distinct issuers hold an issuer rating?
Q10. Is Valdoria Telecom investment grade?
Q11. What was Marlow Utilities' rating on 1 June 2025?
Q12. What was Marlow Utilities' rating on 1 January 2024?
Q13. How many times has Marlow Utilities been downgraded?
Q14. What was Halden Foods' rating on 1 January 2024?
Q15. What was Halden Bank's rating on 1 January 2026?
Q16. Has Marlow Utilities' rating changed since 1 January 2025?
Q17. Was Orrin Bank downgraded in 2026?
Q18. Which issuers were on Rating Watch Negative on 1 October 2026?
Q19. Which issuers had a Negative outlook on 1 October 2026?
Q20. Is Pellam Retail in default?
Q21. Which entities had an issuer rating at some point but no longer had one on 1 October 2026?
Q22. Which entities have ever been in default?
Q23. What is Kestrel Energy's short-term rating?
Q24. Is Kestrel Energy's issuer rating investment grade?
Q25. How many instruments held an investment-grade rating on 1 October 2026?
Q26. What is Corvenia Power's local-currency rating?
Q27. How is Corvenia Power's 2032 note rated?
Q28. What is the Republic of Corvenia's foreign-currency issuer rating?
Q29. What is the Republic of Valdoria's issuer rating?
Q30. Which entities had a foreign-currency issuer rating exactly at their country's ceiling on 1 October 2026?
Q31. Did any company have a foreign-currency issuer rating above its country's ceiling on 1 October 2026?
Q32. Who is Halden Leasing's ultimate parent?
Q33. Whose credit risk does a holder of the Halden Leasing 2028 notes take, and how is it rated?
Q34. Is Halden Foods part of the same group as Halden Bank?
Q35. How many entities are in the Halden group, the parent included?
Q36. How many entities are in the Northwind group, the parent included?
Q37. How many distinct legal entities does the data describe?
Q38. Are Orrin Bank AG and Orrin Bancorp Inc the same entity?
Q39. What is Northwind Holdings' current rating?
Q40. How many distinct issuers domiciled in GB held an issuer rating on 1 October 2026?
Q41. What is Brindle Capital's current rating?
Q42. In which country is Halden Bank domiciled?
Q43. How many distinct entities are domiciled in Luxembourg (LU)?
Q44. Is Valdoria Telecom's 2027 note a local-currency obligation?
Q45. Is Valdoria Telecom's 2027 note rated above what Valdoria's Country Ceiling allows?
Q46. Does Halden Leasing have an issuer rating?
Q47. How is Corvenia Power's 2034 note rated?
Q48. How many instruments held a rating on 1 October 2026?

The model

I'll start by exploring the entities and instruments.

```sparql
PREFIX lad: <https://example.org/ladder/>
PREFIX rdfs: <http://www.w3.org/2000/01/rdf-schema#>
SELECT ?s ?p ?o WHERE { ?s a lad:Entity ; ?p ?o . FILTER(?p != lad:lei) } ORDER BY ?s ?p
```

```sparql
PREFIX lad: <https://example.org/ladder/>
SELECT ?s ?p ?o WHERE { ?s a lad:Instrument ; ?p ?o . } ORDER BY ?s ?p
```

```sparql
PREFIX lad: <https://example.org/ladder/>
SELECT ?s ?p ?o WHERE { ?s a lad:RatingAction ; ?p ?o . FILTER(?p != rdfs:label) } ORDER BY ?s ?p
```

Query results

Query 1:

| s | p | o |
|---|---|---|
| lad:CV | rdf:type | lad:Entity |
| lad:CV | rdfs:label | Republic of Corvenia |
| lad:CV | lad:country | CV |
| lad:CV | lad:entityType | lad:etype-SOV |
| lad:CV | lad:name | Republic of Corvenia |
| lad:CV | lad:sourceSystem | RATINGS |
| lad:E01 | rdf:type | lad:Entity |
| lad:E01 | rdfs:label | Kestrel Energy plc |
| lad:E01 | lad:country | GB |
| lad:E01 | lad:entityType | lad:etype-CORP |
| lad:E01 | lad:name | Kestrel Energy plc |
| lad:E01 | lad:sourceSystem | RATINGS |
| lad:E02 | rdf:type | lad:Entity |
| lad:E02 | rdfs:label | Northwind Holdings plc |
| lad:E02 | lad:country | GB |
| lad:E02 | lad:entityType | lad:etype-CORP |
| lad:E02 | lad:name | Northwind Holdings plc |
| lad:E02 | lad:sourceSystem | RATINGS |
| lad:E03 | rdf:type | lad:Entity |
| lad:E03 | rdfs:label | NORTHWIND HLDGS |
| lad:E03 | lad:country | GB |
| lad:E03 | lad:entityType | lad:etype-CORP |
| lad:E03 | lad:name | NORTHWIND HLDGS |
| lad:E03 | lad:sourceSystem | RESEARCH |
| lad:E04 | rdf:type | lad:Entity |
| lad:E04 | rdfs:label | Northwind Finance BV |
| lad:E04 | lad:country | NL |
| lad:E04 | lad:entityType | lad:etype-FINSUB |
| lad:E04 | lad:name | Northwind Finance BV |
| lad:E04 | lad:parent | lad:E02 |
| lad:E04 | lad:sourceSystem | RATINGS |
| lad:E05 | rdf:type | lad:Entity |
| lad:E05 | rdfs:label | Valdoria Telecom SA |
| lad:E05 | lad:country | VD |
| lad:E05 | lad:entityType | lad:etype-CORP |
| lad:E05 | lad:name | Valdoria Telecom SA |
| lad:E05 | lad:sourceSystem | RATINGS |
| lad:E06 | rdf:type | lad:Entity |
| lad:E06 | rdfs:label | Orrin Bank AG |
| lad:E06 | lad:country | DE |
| lad:E06 | lad:entityType | lad:etype-BANK |
| lad:E06 | lad:name | Orrin Bank AG |
| lad:E06 | lad:sourceSystem | RATINGS |
| lad:E07 | rdf:type | lad:Entity |
| lad:E07 | rdfs:label | Pellam Retail Ltd |
| lad:E07 | lad:country | GB |
| lad:E07 | lad:entityType | lad:etype-CORP |
| lad:E07 | lad:name | Pellam Retail Ltd |
| lad:E07 | lad:sourceSystem | RATINGS |
| lad:E08 | rdf:type | lad:Entity |
| lad:E08 | rdfs:label | Saxby Shipping SA |
| lad:E08 | lad:country | GR |
| lad:E08 | lad:entityType | lad:etype-CORP |
| lad:E08 | lad:name | Saxby Shipping SA |
| lad:E08 | lad:sourceSystem | RATINGS |
| lad:E09 | rdf:type | lad:Entity |
| lad:E09 | rdfs:label | Halden Group plc |
| lad:E09 | lad:country | GB |
| lad:E09 | lad:entityType | lad:etype-CORP |
| lad:E09 | lad:name | Halden Group plc |
(2210 more rows not shown)

Query 2:

| s | p | o |
|---|---|---|
| lad:I01 | rdf:type | lad:Instrument |
| lad:I01 | rdfs:label | Kestrel Energy 4.50% 2030 |
| lad:I01 | lad:currency | GBP |
| lad:I01 | lad:description | Kestrel Energy 4.50% notes due 2030 |
| lad:I01 | lad:issuer | lad:E01 |
| lad:I01 | lad:maturity | 2030-03-15 |
| lad:I01 | lad:seniority | lad:seniority-SU |
| lad:I02 | rdf:type | lad:Instrument |
| lad:I02 | rdfs:label | Kestrel Energy 6.25% 2031 |
| lad:I02 | lad:currency | GBP |
| lad:I02 | lad:description | Kestrel Energy 6.25% notes due 2031 |
| lad:I02 | lad:issuer | lad:E01 |
| lad:I02 | lad:maturity | 2031-09-30 |
| lad:I02 | lad:seniority | lad:seniority-SUB |
| lad:I03 | rdf:type | lad:Instrument |
| lad:I03 | rdfs:label | Northwind Finance 3.75% 2030 |
| lad:I03 | lad:currency | EUR |
| lad:I03 | lad:description | Northwind Finance 3.75% notes due 2030 |
| lad:I03 | lad:guarantor | lad:E02 |
| lad:I03 | lad:issuer | lad:E04 |
| lad:I03 | lad:maturity | 2030-05-01 |
| lad:I03 | lad:seniority | lad:seniority-SU |
| lad:I04 | rdf:type | lad:Instrument |
| lad:I04 | rdfs:label | Valdoria Telecom 5.00% 2029 |
| lad:I04 | lad:currency | USD |
| lad:I04 | lad:description | Valdoria Telecom 5.00% notes due 2029 |
| lad:I04 | lad:issuer | lad:E05 |
| lad:I04 | lad:maturity | 2029-11-20 |
| lad:I04 | lad:seniority | lad:seniority-SU |
| lad:I05 | rdf:type | lad:Instrument |
| lad:I05 | rdfs:label | Halden Leasing 2.90% 2028 |
| lad:I05 | lad:currency | EUR |
| lad:I05 | lad:description | Halden Leasing 2.90% notes due 2028 |
| lad:I05 | lad:guarantor | lad:E10 |
| lad:I05 | lad:issuer | lad:E11 |
| lad:I05 | lad:maturity | 2028-06-30 |
| lad:I05 | lad:seniority | lad:seniority-SU |
| lad:I06 | rdf:type | lad:Instrument |
| lad:I06 | rdfs:label | Corvenia Power 7.10% 2032 |
| lad:I06 | lad:currency | USD |
| lad:I06 | lad:description | Corvenia Power 7.10% notes due 2032 |
| lad:I06 | lad:issuer | lad:E15 |
| lad:I06 | lad:maturity | 2032-02-15 |
| lad:I06 | lad:seniority | lad:seniority-SUB |
| lad:I07 | rdf:type | lad:Instrument |
| lad:I07 | rdfs:label | Valdoria Telecom 4.25% 2027 |
| lad:I07 | lad:currency | XVD |
| lad:I07 | lad:description | Valdoria Telecom 4.25% notes due 2027 |
| lad:I07 | lad:issuer | lad:E05 |
| lad:I07 | lad:maturity | 2027-08-31 |
| lad:I07 | lad:seniority | lad:seniority-SU |
| lad:I08 | rdf:type | lad:Instrument |
| lad:I08 | rdfs:label | Corvenia Power 6.00% 2034 |
| lad:I08 | lad:currency | USD |
| lad:I08 | lad:description | Corvenia Power 6.00% notes due 2034 |
| lad:I08 | lad:issuer | lad:E15 |
| lad:I08 | lad:maturity | 2034-09-01 |
| lad:I08 | lad:seniority | lad:seniority-SU |
| lad:I1001 | rdf:type | lad:Instrument |
| lad:I1001 | rdfs:label | Soson Airlines 5.50% 2031 |
(762 more rows not shown)

Query 3:

| s | p | o |
|---|---|---|
| lad:A01 | rdf:type | lad:RatingAction |
| lad:A01 | lad:action | lad:action-AS |
| lad:A01 | lad:ccyBasis | lad:basis-FC |
| lad:A01 | lad:date | 2024-03-12 |
| lad:A01 | lad:outlook | lad:outlook-STA |
| lad:A01 | lad:ratedThing | lad:E01 |
| lad:A01 | lad:rating | A- |
| lad:A01 | lad:ratingType | lad:type-LTIDR |
| lad:A02 | rdf:type | lad:RatingAction |
| lad:A02 | lad:action | lad:action-DG |
| lad:A02 | lad:ccyBasis | lad:basis-FC |
| lad:A02 | lad:comment | weaker cash flow after asset sale |
| lad:A02 | lad:date | 2025-06-20 |
| lad:A02 | lad:outlook | lad:outlook-STA |
| lad:A02 | lad:ratedThing | lad:E01 |
| lad:A02 | lad:rating | BBB |
| lad:A02 | lad:ratingType | lad:type-LTIDR |
| lad:A03 | rdf:type | lad:RatingAction |
| lad:A03 | lad:action | lad:action-AF |
| lad:A03 | lad:ccyBasis | lad:basis-FC |
| lad:A03 | lad:date | 2026-02-10 |
| lad:A03 | lad:outlook | lad:outlook-NEG |
| lad:A03 | lad:ratedThing | lad:E01 |
| lad:A03 | lad:rating | BBB |
| lad:A03 | lad:ratingType | lad:type-LTIDR |
| lad:A04 | rdf:type | lad:RatingAction |
| lad:A04 | lad:action | lad:action-AF |
| lad:A04 | lad:ccyBasis | lad:basis-FC |
| lad:A04 | lad:date | 2026-02-10 |
| lad:A04 | lad:ratedThing | lad:E01 |
| lad:A04 | lad:rating | F2 |
| lad:A04 | lad:ratingType | lad:type-STIDR |
| lad:A05 | rdf:type | lad:RatingAction |
| lad:A05 | lad:action | lad:action-AS |
| lad:A05 | lad:date | 2024-03-12 |
| lad:A05 | lad:ratedThing | lad:I01 |
| lad:A05 | lad:rating | A- |
| lad:A05 | lad:ratingType | lad:type-INST |
| lad:A06 | rdf:type | lad:RatingAction |
| lad:A06 | lad:action | lad:action-DG |
| lad:A06 | lad:date | 2025-06-20 |
| lad:A06 | lad:ratedThing | lad:I01 |
| lad:A06 | lad:rating | BBB |
| lad:A06 | lad:ratingType | lad:type-INST |
| lad:A07 | rdf:type | lad:RatingAction |
| lad:A07 | lad:action | lad:action-DG |
| lad:A07 | lad:date | 2025-06-20 |
| lad:A07 | lad:ratedThing | lad:I02 |
| lad:A07 | lad:rating | BB+ |
| lad:A07 | lad:ratingType | lad:type-INST |
| lad:A08 | rdf:type | lad:RatingAction |
| lad:A08 | lad:action | lad:action-AS |
| lad:A08 | lad:ccyBasis | lad:basis-FC |
| lad:A08 | lad:date | 2023-11-01 |
| lad:A08 | lad:outlook | lad:outlook-STA |
| lad:A08 | lad:ratedThing | lad:E02 |
| lad:A08 | lad:rating | A |
| lad:A08 | lad:ratingType | lad:type-LTIDR |
| lad:A09 | rdf:type | lad:RatingAction |
| lad:A09 | lad:action | lad:action-AF |
(5980 more rows not shown)

Run more queries, or give the final answers.

The model

<parameter name="query">x</parameter>
```sparql
PREFIX skos: <http://www.w3.org/2004/02/skos/core#>
PREFIX lad: <https://example.org/ladder/>
SELECT ?s ?p ?o WHERE { ?s ?p ?o . FILTER(STRSTARTS(STR(?s),"https://example.org/ladder/") && !STRSTARTS(STR(?s),"https://example.org/ladder/A") && !STRSTARTS(STR(?s),"https://example.org/ladder/I") && !STRSTARTS(STR(?s),"https://example.org/ladder/E")) } ORDER BY ?s ?p
```

Query results

Query 1:

| s | p | o |
|---|---|---|
| lad:CV | rdf:type | lad:Entity |
| lad:CV | rdfs:label | Republic of Corvenia |
| lad:CV | lad:country | CV |
| lad:CV | lad:entityType | lad:etype-SOV |
| lad:CV | lad:name | Republic of Corvenia |
| lad:CV | lad:sourceSystem | RATINGS |
| lad:VD | rdf:type | lad:Entity |
| lad:VD | rdfs:label | Republic of Valdoria |
| lad:VD | lad:country | VD |
| lad:VD | lad:entityType | lad:etype-SOV |
| lad:VD | lad:name | Republic of Valdoria |
| lad:VD | lad:sourceSystem | RATINGS |

Run more queries, or give the final answers.

The model

```sparql
PREFIX lad: <https://example.org/ladder/>
SELECT ?a ?t ?d ?act ?r ?ty ?ob ?w ?b ?c WHERE { ?a a lad:RatingAction; lad:ratedThing ?t; lad:date ?d; lad:rating ?r; lad:ratingType ?ty; lad:action ?act . OPTIONAL{?a lad:outlook ?ob} OPTIONAL{?a lad:watch ?w} OPTIONAL{?a lad:ccyBasis ?b} OPTIONAL{?a lad:comment ?c}
FILTER(?t IN (lad:E01, lad:E02, lad:E03, lad:E04, lad:I02, lad:I03, lad:E05, lad:E06, lad:E07, lad:I07, lad:VD, lad:CV)) } ORDER BY ?t ?d
```

Query results

Query 1:

| a | t | d | act | r | ty | ob | w | b | c |
|---|---|---|---|---|---|---|---|---|---|
| lad:A37 | lad:CV | 2024-01-01 | lad:action-AS | A | lad:type-CC |  |  |  |  |
| lad:A38 | lad:CV | 2024-01-01 | lad:action-AS | BBB+ | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-FC |  |
| lad:A39 | lad:CV | 2024-01-01 | lad:action-AS | A- | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-LC |  |
| lad:A01 | lad:E01 | 2024-03-12 | lad:action-AS | A- | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-FC |  |
| lad:A02 | lad:E01 | 2025-06-20 | lad:action-DG | BBB | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-FC | weaker cash flow after asset sale |
| lad:A03 | lad:E01 | 2026-02-10 | lad:action-AF | BBB | lad:type-LTIDR | lad:outlook-NEG |  | lad:basis-FC |  |
| lad:A04 | lad:E01 | 2026-02-10 | lad:action-AF | F2 | lad:type-STIDR |  |  | lad:basis-FC |  |
| lad:A08 | lad:E02 | 2023-11-01 | lad:action-AS | A | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-FC |  |
| lad:A09 | lad:E03 | 2025-09-15 | lad:action-AF | A | lad:type-LTIDR | lad:outlook-POS |  | lad:basis-FC |  |
| lad:A13 | lad:E05 | 2025-04-01 | lad:action-AS | BBB- | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-LC |  |
| lad:A14 | lad:E05 | 2025-04-01 | lad:action-AS | BB | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-FC |  |
| lad:A16 | lad:E06 | 2024-05-01 | lad:action-AS | A- | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-FC |  |
| lad:A17 | lad:E06 | 2026-09-03 | lad:action-RW | A- | lad:type-LTIDR |  | lad:watch-RWN | lad:basis-FC |  |
| lad:A18 | lad:E07 | 2024-01-10 | lad:action-AS | BB | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-FC |  |
| lad:A19 | lad:E07 | 2026-05-12 | lad:action-WD | WD | lad:type-LTIDR |  |  | lad:basis-FC | commercial reasons |
| lad:A23 | lad:I02 | 2024-03-12 | lad:action-AS | BBB | lad:type-INST |  |  |  |  |
| lad:A07 | lad:I02 | 2025-06-20 | lad:action-DG | BB+ | lad:type-INST |  |  |  |  |
| lad:A10 | lad:I03 | 2023-11-01 | lad:action-AS | A | lad:type-INST |  |  |  |  |
| lad:A11 | lad:I03 | 2025-09-15 | lad:action-AF | A | lad:type-INST |  |  |  |  |
| lad:A45 | lad:I07 | 2025-04-01 | lad:action-AS | BBB- | lad:type-INST |  |  |  |  |
| lad:A12 | lad:VD | 2025-04-01 | lad:action-AS | BB | lad:type-CC |  |  |  |  |

Run more queries, or give the final answers.

The model

<parameter name="query">x</parameter>

```sparql
PREFIX lad: <https://example.org/ladder/>
SELECT ?k (GROUP_CONCAT(DISTINCT ?v; separator=" | ") AS ?vals) WHERE {
 { ?a lad:action ?v BIND("action" AS ?k) } UNION { ?a lad:ratingType ?v BIND("type" AS ?k) } UNION { ?a lad:watch ?v BIND("watch" AS ?k) } UNION { ?a lad:outlook ?v BIND("outlook" AS ?k) } UNION { ?a lad:ccyBasis ?v BIND("basis" AS ?k) } UNION { ?a lad:rating ?v BIND("rating" AS ?k) } UNION {?e lad:entityType ?v BIND("etype" AS ?k)} } GROUP BY ?k
```

```sparql
PREFIX lad: <https://example.org/ladder/>
SELECT ?e ?n ?c ?p (COUNT(?i) AS ?ni) WHERE { ?e a lad:Entity; lad:name ?n; lad:country ?c . OPTIONAL{?e lad:parent ?p} OPTIONAL{?i lad:issuer ?e}
FILTER(REGEXP(?n,"Halden|Marlow|Orrin|Brindle|Corvenia|Pellam|Northwind|NORTHWIND|Valdoria","i")) } GROUP BY ?e ?n ?c ?p ORDER BY ?e
```

```sparql
PREFIX lad: <https://example.org/ladder/>
SELECT ?a ?t ?d ?act ?r ?ty ?ob ?w ?b WHERE { ?a a lad:RatingAction; lad:ratedThing ?t; lad:date ?d; lad:rating ?r; lad:ratingType ?ty; lad:action ?act . OPTIONAL{?a lad:outlook ?ob} OPTIONAL{?a lad:watch ?w} OPTIONAL{?a lad:ccyBasis ?b}
FILTER(?d >= "2026-01-01" && ?act = lad:action-DG) } ORDER BY ?t ?d
```

Query results

Query 1:

| k | vals |
|---|---|
| action | https://example.org/ladder/action-AS | https://example.org/ladder/action-DG | https://example.org/ladder/action-AF | https://example.org/ladder/action-WD | https://example.org/ladder/action-UG | https://example.org/ladder/action-RW | https://example.org/ladder/action-EX |
| type | https://example.org/ladder/type-LTIDR | https://example.org/ladder/type-STIDR | https://example.org/ladder/type-INST | https://example.org/ladder/type-CC | https://example.org/ladder/type-CO |
| watch | https://example.org/ladder/watch-RWN |
| outlook | https://example.org/ladder/outlook-STA | https://example.org/ladder/outlook-NEG | https://example.org/ladder/outlook-POS |
| basis | https://example.org/ladder/basis-FC | https://example.org/ladder/basis-LC |
| rating | A- | BBB | F2 | BB+ | A | A+ | WD | BB | BBB- | AA- | AA | BB- | B+ | BBB+ | B | B- | CCC | RD |
| etype | https://example.org/ladder/etype-CORP | https://example.org/ladder/etype-BANK | https://example.org/ladder/etype-FINSUB | https://example.org/ladder/etype-SOV |

Query 2 failed: Expected SelectQuery, found 'FILTER'  (at char 189), (line:3, col:1)

Query 3:

(no rows)

Run more queries, or give the final answers.

The model

```sparql
PREFIX lad: <https://example.org/ladder/>
SELECT ?e ?n ?c ?t ?p ?lei WHERE { ?e a lad:Entity; lad:name ?n; lad:country ?c; lad:entityType ?t . OPTIONAL{?e lad:parent ?p} OPTIONAL{?e lad:lei ?lei} } ORDER BY ?e
```

```sparql
PREFIX lad: <https://example.org/ladder/>
SELECT ?a ?t ?d ?act ?r ?ty ?ob ?w ?b ?c WHERE { ?a a lad:RatingAction; lad:ratedThing ?t; lad:date ?d; lad:rating ?r; lad:ratingType ?ty; lad:action ?act . OPTIONAL{?a lad:outlook ?ob} OPTIONAL{?a lad:watch ?w} OPTIONAL{?a lad:ccyBasis ?b} OPTIONAL{?a lad:comment ?c}
FILTER(STRSTARTS(STR(?t),"https://example.org/ladder/E") && ?ty != lad:type-STIDR) } ORDER BY ?t ?d
```

Query results

Query 1:

| e | n | c | t | p | lei |
|---|---|---|---|---|---|
| lad:CV | Republic of Corvenia | CV | lad:etype-SOV |  |  |
| lad:E01 | Kestrel Energy plc | GB | lad:etype-CORP |  | 7245002OOPBG04092E43 |
| lad:E02 | Northwind Holdings plc | GB | lad:etype-CORP |  | 213800PHEIYNJMHTDV74 |
| lad:E03 | NORTHWIND HLDGS | GB | lad:etype-CORP |  | 213800PHEIYNJMHTDV74 |
| lad:E04 | Northwind Finance BV | NL | lad:etype-FINSUB | lad:E02 | 213800LA5RYJLGXV2T85 |
| lad:E05 | Valdoria Telecom SA | VD | lad:etype-CORP |  | 391200LESH03LMOY2U61 |
| lad:E06 | Orrin Bank AG | DE | lad:etype-BANK |  | 549300AMVE3VRVG7HK43 |
| lad:E07 | Pellam Retail Ltd | GB | lad:etype-CORP |  | 969500B6IUACELPI2291 |
| lad:E08 | Saxby Shipping SA | GR | lad:etype-CORP |  | 969500KOTZ1JFIZSG796 |
| lad:E09 | Halden Group plc | GB | lad:etype-CORP |  | 815600ASM9EHDG931T89 |
| lad:E10 | Halden Bank AG | DE | lad:etype-BANK | lad:E09 | 391200QYPVFF2O9K2039 |
| lad:E1001 | Tunod Steel SA | FR | lad:etype-CORP |  | 3912003R00FP6CNV6210 |
| lad:E1002 | TUNOD STEEL SA | FR | lad:etype-CORP |  | 3912003R00FP6CNV6210 |
| lad:E1003 | Rilol Telecom plc | GB | lad:etype-BANK |  | 3912009W4J483WB8PZ97 |
| lad:E1004 | Munem Retail SA | ES | lad:etype-CORP |  | 969500IBYK0X2ZT52780 |
| lad:E1005 | Setan Airlines Inc | US | lad:etype-CORP |  | 815600JRN7AOE36KFR35 |
| lad:E1006 | Soson Airlines Inc | US | lad:etype-CORP | lad:E1005 | 213800WSVEOAQ5HD4C43 |
| lad:E1007 | Golod Property plc | GB | lad:etype-BANK |  | 815600N2UAHQREHHWF76 |
| lad:E1008 | Sotil Retail plc | GB | lad:etype-CORP |  | 213800RPNJ2OSQ387M40 |
| lad:E1009 | Malam Chemicals Inc | US | lad:etype-CORP |  | 3912006EIY6TU9NVSC86 |
| lad:E1010 | Buvir Industries Inc | US | lad:etype-CORP |  | 3912004R2GZJL49URX69 |
| lad:E1011 | Falom Media Inc | US | lad:etype-BANK |  | 549300XX6U9N4Y7KPH74 |
| lad:E1012 | Posad Industries SA | FR | lad:etype-CORP |  | 9695002JIQI5QYDN0G98 |
| lad:E1013 | Pisol Pharma BV | NL | lad:etype-BANK | lad:E1004 | 969500U072SAPPW32N81 |
| lad:E1014 | Toral Utilities BV | NL | lad:etype-CORP |  | 391200J700D8T2H18W16 |
| lad:E1015 | Civen Steel Inc | US | lad:etype-CORP |  | 815600JSNIJ4UFCBF662 |
| lad:E1016 | Ponar Telecom SA | ES | lad:etype-BANK |  | 5493008DQ96XI37KZG24 |
| lad:E1017 | Nisid Steel SA | FR | lad:etype-BANK |  | 391200K600X7LWZTTM85 |
| lad:E1018 | Tosem Mining Inc | US | lad:etype-CORP |  | 549300SEMGL6OXLWHQ59 |
| lad:E1019 | Losol Mining SA | CV | lad:etype-CORP |  | 391200GSFO0F68KKUC67 |
| lad:E1020 | Finel Media AG | DE | lad:etype-CORP |  | 549300FCSHHELSCZX562 |
| lad:E1021 | Niner Pharma plc | GB | lad:etype-CORP |  | 391200KLG6G4KVIMIU52 |
| lad:E1022 | NINER PHARMA | GB | lad:etype-CORP |  | 391200KLG6G4KVIMIU52 |
| lad:E1023 | Heled Water plc | GB | lad:etype-CORP |  | 3912006FHXTH5V6WNK07 |
| lad:E1024 | Susin Shipping BV | NL | lad:etype-CORP |  | 3912005J04HB7X0GTN24 |
| lad:E1025 | Tulol Shipping SA | ES | lad:etype-BANK |  | 2138007MIV2OS05PET94 |
| lad:E1026 | Vunam Water BV | NL | lad:etype-CORP |  | 969500C8XYHXZBFMUO41 |
| lad:E1027 | Tesad Media Inc | US | lad:etype-CORP |  | 969500T86HNH5S920X18 |
| lad:E1028 | Mutir Retail SA | VD | lad:etype-CORP |  | 213800TJ32NARU0BI982 |
| lad:E1029 | Leson Telecom Inc | US | lad:etype-BANK |  | 8156008DPX4I9DNKWN26 |
| lad:E1030 | LESON TELECOM INC | US | lad:etype-BANK |  | 8156008DPX4I9DNKWN26 |
| lad:E1031 | Kuvir Logistics SA | ES | lad:etype-CORP |  | 969500GRHP48SQNEWH44 |
| lad:E1032 | Helom Chemicals BV | NL | lad:etype-BANK |  | 2138006H9XCYN2P1K228 |
| lad:E1033 | Kunid Pharma SA | ES | lad:etype-CORP | lad:E1004 | 213800Q84PS4FTJJB947 |
| lad:E1034 | Tanad Capital SpA | IT | lad:etype-CORP |  | 815600KLV84WAQGPSX27 |
| lad:E1035 | Kavod Utilities AG | DE | lad:etype-CORP |  | 724500YHN51API4SE179 |
| lad:E1036 | Lilor Retail AG | DE | lad:etype-CORP |  | 9695000N72OQ0Q07IW61 |
| lad:E1037 | Natil Retail SA | FR | lad:etype-CORP |  | 391200OBAXI8590VQN12 |
| lad:E1038 | Lanon Telecom BV | NL | lad:etype-CORP |  | 549300EZ4HXP0L5RAZ01 |
| lad:E1039 | Pulor Airlines SA | CV | lad:etype-BANK |  | 969500HA9D5I7F73PW83 |
| lad:E1040 | Dorid Mining AG | DE | lad:etype-CORP |  | 549300SPMD9MEMFWMR12 |
| lad:E1041 | Hiral Steel SA | ES | lad:etype-CORP |  | 549300JU1O5MP1HSKQ01 |
| lad:E1042 | Rerod Steel BV | NL | lad:etype-CORP |  | 391200LC6V921W096L49 |
| lad:E1043 | Vitom Property plc | GB | lad:etype-CORP |  | 5493007IVTPIWJZLFF29 |
| lad:E1044 | Hesid Telecom Inc | US | lad:etype-BANK |  | 3912003Y7VZHUGN50755 |
| lad:E1045 | Nesid Logistics Inc | US | lad:etype-BANK |  | 96950029VB162U3K1976 |
| lad:E1046 | Ditin Shipping Inc | US | lad:etype-BANK | lad:E1026 | 549300ZM08IADSAK3L87 |
| lad:E1047 | Vaved Pharma plc | GB | lad:etype-CORP | lad:E1020 | 391200WGA8OE30KZUD08 |
| lad:E1048 | Lised Pharma AG | DE | lad:etype-CORP |  | 9695000T21G05UQMGF10 |
| lad:E1049 | Paser Utilities plc | GB | lad:etype-CORP |  | 391200R2EH7FELZFOV27 |
(310 more rows not shown)

Query 2:

| a | t | d | act | r | ty | ob | w | b | c |
|---|---|---|---|---|---|---|---|---|---|
| lad:A01 | lad:E01 | 2024-03-12 | lad:action-AS | A- | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-FC |  |
| lad:A02 | lad:E01 | 2025-06-20 | lad:action-DG | BBB | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-FC | weaker cash flow after asset sale |
| lad:A03 | lad:E01 | 2026-02-10 | lad:action-AF | BBB | lad:type-LTIDR | lad:outlook-NEG |  | lad:basis-FC |  |
| lad:A08 | lad:E02 | 2023-11-01 | lad:action-AS | A | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-FC |  |
| lad:A09 | lad:E03 | 2025-09-15 | lad:action-AF | A | lad:type-LTIDR | lad:outlook-POS |  | lad:basis-FC |  |
| lad:A13 | lad:E05 | 2025-04-01 | lad:action-AS | BBB- | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-LC |  |
| lad:A14 | lad:E05 | 2025-04-01 | lad:action-AS | BB | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-FC |  |
| lad:A16 | lad:E06 | 2024-05-01 | lad:action-AS | A- | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-FC |  |
| lad:A17 | lad:E06 | 2026-09-03 | lad:action-RW | A- | lad:type-LTIDR |  | lad:watch-RWN | lad:basis-FC |  |
| lad:A18 | lad:E07 | 2024-01-10 | lad:action-AS | BB | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-FC |  |
| lad:A19 | lad:E07 | 2026-05-12 | lad:action-WD | WD | lad:type-LTIDR |  |  | lad:basis-FC | commercial reasons |
| lad:A20 | lad:E08 | 2024-06-01 | lad:action-AS | B | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-FC |  |
| lad:A21 | lad:E08 | 2026-01-20 | lad:action-DG | CCC | lad:type-LTIDR |  |  | lad:basis-FC |  |
| lad:A22 | lad:E08 | 2026-07-08 | lad:action-DG | RD | lad:type-LTIDR |  |  | lad:basis-FC | distressed debt exchange completed |
| lad:A24 | lad:E09 | 2023-05-01 | lad:action-AS | A | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-FC |  |
| lad:A25 | lad:E09 | 2026-03-01 | lad:action-AF | A | lad:type-LTIDR | lad:outlook-NEG |  | lad:basis-FC |  |
| lad:A26 | lad:E10 | 2023-05-01 | lad:action-AS | A- | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-FC | support from parent |
| lad:A27 | lad:E10 | 2026-04-15 | lad:action-DG | BBB+ | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-FC |  |
| lad:A1001 | lad:E1002 | 2022-08-18 | lad:action-AS | A+ | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-FC |  |
| lad:A1002 | lad:E1002 | 2025-07-20 | lad:action-WD | WD | lad:type-LTIDR |  |  | lad:basis-FC | commercial reasons |
| lad:A1003 | lad:E1003 | 2024-07-05 | lad:action-AS | A | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-FC |  |
| lad:A1004 | lad:E1004 | 2023-05-02 | lad:action-AS | BB | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-FC |  |
| lad:A1005 | lad:E1005 | 2022-05-02 | lad:action-AS | BBB- | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-FC |  |
| lad:A1006 | lad:E1005 | 2023-03-19 | lad:action-DG | BB+ | lad:type-LTIDR | lad:outlook-POS |  | lad:basis-FC |  |
| lad:A1007 | lad:E1005 | 2025-08-02 | lad:action-DG | BB | lad:type-LTIDR | lad:outlook-NEG |  | lad:basis-FC |  |
| lad:A1008 | lad:E1006 | 2025-08-26 | lad:action-AS | AA- | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-FC |  |
| lad:A1009 | lad:E1006 | 2026-04-15 | lad:action-UG | AA | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-FC |  |
| lad:A1010 | lad:E1006 | 2026-06-17 | lad:action-RW | AA | lad:type-LTIDR |  | lad:watch-RWN | lad:basis-FC |  |
| lad:A1012 | lad:E1007 | 2023-06-03 | lad:action-AS | BB- | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-FC |  |
| lad:A1013 | lad:E1007 | 2026-06-27 | lad:action-WD | WD | lad:type-LTIDR |  |  | lad:basis-FC | commercial reasons |
| lad:A1015 | lad:E1008 | 2022-12-09 | lad:action-AS | BBB- | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-FC |  |
| lad:A1017 | lad:E1009 | 2022-05-02 | lad:action-AS | A | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-FC |  |
| lad:A1019 | lad:E1010 | 2023-08-18 | lad:action-AS | BBB- | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-FC |  |
| lad:A1020 | lad:E1011 | 2025-12-13 | lad:action-AS | B+ | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-FC |  |
| lad:A1021 | lad:E1012 | 2024-11-09 | lad:action-AS | BB | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-FC |  |
| lad:A1022 | lad:E1012 | 2025-04-03 | lad:action-RW | BB | lad:type-LTIDR |  | lad:watch-RWN | lad:basis-FC |  |
| lad:A1023 | lad:E1012 | 2026-02-06 | lad:action-UG | BB+ | lad:type-LTIDR | lad:outlook-POS |  | lad:basis-FC |  |
| lad:A1025 | lad:E1013 | 2022-06-02 | lad:action-AS | BB- | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-FC |  |
| lad:A1026 | lad:E1013 | 2025-07-09 | lad:action-RW | BB- | lad:type-LTIDR |  | lad:watch-RWN | lad:basis-FC |  |
| lad:A1028 | lad:E1014 | 2025-07-11 | lad:action-AS | AA- | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-FC |  |
| lad:A1030 | lad:E1015 | 2025-11-24 | lad:action-AS | BBB+ | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-FC |  |
| lad:A1031 | lad:E1016 | 2022-06-10 | lad:action-AS | B+ | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-FC |  |
| lad:A1032 | lad:E1016 | 2025-06-28 | lad:action-AF | B+ | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-FC |  |
| lad:A1034 | lad:E1017 | 2022-03-03 | lad:action-AS | AA- | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-FC |  |
| lad:A1035 | lad:E1017 | 2024-08-09 | lad:action-UG | AA | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-FC |  |
| lad:A1036 | lad:E1017 | 2025-04-20 | lad:action-AF | AA | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-FC |  |
| lad:A1037 | lad:E1018 | 2025-08-11 | lad:action-AS | A | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-FC |  |
| lad:A1039 | lad:E1019 | 2022-12-11 | lad:action-AS | BB+ | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-FC |  |
| lad:A1040 | lad:E1019 | 2022-12-11 | lad:action-AS | BBB- | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-LC |  |
| lad:A1041 | lad:E1019 | 2024-02-08 | lad:action-RW | BBB- | lad:type-LTIDR |  | lad:watch-RWN | lad:basis-LC |  |
| lad:A1042 | lad:E1019 | 2024-03-20 | lad:action-RW | BBB- | lad:type-LTIDR |  | lad:watch-RWN | lad:basis-LC |  |
| lad:A1043 | lad:E1020 | 2024-06-15 | lad:action-AS | A- | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-FC |  |
| lad:A1045 | lad:E1021 | 2022-06-19 | lad:action-AS | BBB- | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-FC |  |
| lad:A1046 | lad:E1021 | 2025-11-08 | lad:action-WD | WD | lad:type-LTIDR |  |  | lad:basis-FC | commercial reasons |
| lad:A1048 | lad:E1023 | 2022-06-05 | lad:action-AS | A- | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-FC |  |
| lad:A1049 | lad:E1023 | 2023-03-02 | lad:action-DG | BBB+ | lad:type-LTIDR | lad:outlook-POS |  | lad:basis-FC |  |
| lad:A1050 | lad:E1023 | 2023-03-24 | lad:action-DG | BBB | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-FC |  |
| lad:A1052 | lad:E1024 | 2022-06-18 | lad:action-AS | B+ | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-FC |  |
| lad:A1053 | lad:E1025 | 2022-07-17 | lad:action-AS | BB- | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-FC |  |
| lad:A1054 | lad:E1026 | 2025-05-04 | lad:action-AS | AA- | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-FC |  |
(603 more rows not shown)

Run more queries, or give the final answers.

The model

<parameter name="query">x</parameter>

```sparql
PREFIX lad: <https://example.org/ladder/>
SELECT ?e ?n ?c ?t ?p ?lei WHERE { ?e a lad:Entity; lad:name ?n; lad:country ?c; lad:entityType ?t . OPTIONAL{?e lad:parent ?p} OPTIONAL{?e lad:lei ?lei}
FILTER(REGEX(?n,"Halden|Marlow|Orrin|Brindle|Corvenia|Pellam|Northwind|Valdoria","i") || ?c IN ("LU","VD","CV") || ?e IN (lad:E11,lad:E12,lad:E13,lad:E14,lad:E15,lad:E16,lad:E17,lad:E18)) } ORDER BY ?e
```

```sparql
PREFIX lad: <https://example.org/ladder/>
SELECT ?a ?t ?d ?act ?r ?ty ?ob ?w ?b ?c WHERE { ?a a lad:RatingAction; lad:ratedThing ?t; lad:date ?d; lad:rating ?r; lad:ratingType ?ty; lad:action ?act . OPTIONAL{?a lad:outlook ?ob} OPTIONAL{?a lad:watch ?w} OPTIONAL{?a lad:ccyBasis ?b} OPTIONAL{?a lad:comment ?c}
FILTER(?t IN (lad:E11,lad:E12,lad:E13,lad:E14,lad:E15,lad:E16,lad:E17,lad:E18,lad:I05,lad:I06,lad:I08,lad:I09,lad:I10,lad:I11,lad:I12)) } ORDER BY ?t ?d
```

Query results

Query 1:

| e | n | c | t | p | lei |
|---|---|---|---|---|---|
| lad:CV | Republic of Corvenia | CV | lad:etype-SOV |  |  |
| lad:E02 | Northwind Holdings plc | GB | lad:etype-CORP |  | 213800PHEIYNJMHTDV74 |
| lad:E03 | NORTHWIND HLDGS | GB | lad:etype-CORP |  | 213800PHEIYNJMHTDV74 |
| lad:E04 | Northwind Finance BV | NL | lad:etype-FINSUB | lad:E02 | 213800LA5RYJLGXV2T85 |
| lad:E05 | Valdoria Telecom SA | VD | lad:etype-CORP |  | 391200LESH03LMOY2U61 |
| lad:E06 | Orrin Bank AG | DE | lad:etype-BANK |  | 549300AMVE3VRVG7HK43 |
| lad:E07 | Pellam Retail Ltd | GB | lad:etype-CORP |  | 969500B6IUACELPI2291 |
| lad:E09 | Halden Group plc | GB | lad:etype-CORP |  | 815600ASM9EHDG931T89 |
| lad:E10 | Halden Bank AG | DE | lad:etype-BANK | lad:E09 | 391200QYPVFF2O9K2039 |
| lad:E1019 | Losol Mining SA | CV | lad:etype-CORP |  | 391200GSFO0F68KKUC67 |
| lad:E1028 | Mutir Retail SA | VD | lad:etype-CORP |  | 213800TJ32NARU0BI982 |
| lad:E1039 | Pulor Airlines SA | CV | lad:etype-BANK |  | 969500HA9D5I7F73PW83 |
| lad:E1059 | Kelim Media SA | CV | lad:etype-CORP | lad:E1015 | 549300CRXZL5I1OT6L14 |
| lad:E1060 | KELIM MEDIA SA | CV | lad:etype-CORP |  | 549300CRXZL5I1OT6L14 |
| lad:E1071 | Mored Utilities SA | CV | lad:etype-CORP |  | 213800CG5LUFZKTQXL65 |
| lad:E1096 | Ravon Capital SA | CV | lad:etype-CORP |  | 549300NTCTGRKRYIAN83 |
| lad:E1097 | RAVON CAPITAL SA | CV | lad:etype-CORP |  | 549300NTCTGRKRYIAN83 |
| lad:E11 | Halden Leasing SA | FR | lad:etype-FINSUB | lad:E10 | 549300XBZH4ULO9MQV55 |
| lad:E1101 | Doror Telecom SA | VD | lad:etype-CORP | lad:E1083 | 815600YUVYKAXDN9LE93 |
| lad:E1106 | Reril Pharma SA | VD | lad:etype-BANK |  | 724500MTRZ5RNJAKRB00 |
| lad:E1126 | Goter Capital SA | VD | lad:etype-BANK |  | 213800QG4ZGLWRUBIQ31 |
| lad:E1136 | Lenom Shipping SA | CV | lad:etype-CORP |  | 391200C93222W97BIT34 |
| lad:E1144 | Witan Logistics SA | CV | lad:etype-CORP |  | 213800QV7J1EXLC4YX51 |
| lad:E1185 | Tosal Property SA | CV | lad:etype-CORP |  | 724500H78R8WU6K0T524 |
| lad:E1194 | Litem Industries SA | CV | lad:etype-CORP |  | 815600GVTRTKVHG8BO41 |
| lad:E12 | Halden Foods Ltd | GB | lad:etype-CORP |  | 213800IJDL4OJ4DG5T19 |
| lad:E1217 | Worol Logistics SA | CV | lad:etype-CORP |  | 815600AJPH2BBLTIYW38 |
| lad:E1223 | Hilim Shipping SA | CV | lad:etype-CORP |  | 549300DESCLQXTLMLJ26 |
| lad:E1229 | Fetam Mining SA | CV | lad:etype-BANK |  | 549300GJM0MMFEH84V77 |
| lad:E1236 | Nitel Retail SA | VD | lad:etype-BANK |  | 3912002FNTE1EKOY9W74 |
| lad:E1243 | Herar Foods SA | CV | lad:etype-BANK |  | 2138008SWUJK7JUSMR14 |
| lad:E1245 | Gater Holdings SA | CV | lad:etype-CORP |  | 815600LRX1P8142NMF42 |
| lad:E1279 | Denim Water SA | VD | lad:etype-CORP |  | 8156000D8CUMX9DLYO45 |
| lad:E1283 | Norad Airlines SA | CV | lad:etype-CORP |  | 724500B6N6CB70KO0R91 |
| lad:E13 | Orrin Bancorp Inc | US | lad:etype-BANK |  | 815600O8X8K2F154N214 |
| lad:E1304 | Peson Shipping SA | CV | lad:etype-CORP |  | 969500BPQVYYSLHHCK81 |
| lad:E1307 | Vevom Retail SA | VD | lad:etype-CORP |  | 969500CNC5SOCN5K2N29 |
| lad:E1313 | Divim Holdings SA | VD | lad:etype-BANK |  | 213800P5J80HH9LC8L85 |
| lad:E14 | Marlow Utilities plc | GB | lad:etype-CORP |  | 3912005AH2C1I9YF8106 |
| lad:E15 | Corvenia Power SA | CV | lad:etype-CORP |  | 213800PBQVHVBBH6GV02 |
| lad:E16 | Brindle Capital Ltd | GB | lad:etype-CORP |  | 5493003Z3PXXR7KNFM81 |
| lad:E17 | HALDEN BANK | LU | lad:etype-BANK |  | 391200QYPVFF2O9K2039 |
| lad:VD | Republic of Valdoria | VD | lad:etype-SOV |  |  |

Query 2:

| a | t | d | act | r | ty | ob | w | b | c |
|---|---|---|---|---|---|---|---|---|---|
| lad:A46 | lad:E11 | 2025-02-01 | lad:action-AS | BBB | lad:type-CO |  |  |  |  |
| lad:A30 | lad:E12 | 2024-02-01 | lad:action-AS | BB- | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-FC |  |
| lad:A31 | lad:E12 | 2025-08-01 | lad:action-UG | BB | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-FC |  |
| lad:A32 | lad:E13 | 2024-07-01 | lad:action-AS | BBB | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-FC |  |
| lad:A34 | lad:E14 | 2023-01-15 | lad:action-AS | A- | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-FC |  |
| lad:A36 | lad:E14 | 2024-09-30 | lad:action-DG | BBB+ | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-FC |  |
| lad:A35 | lad:E14 | 2025-11-20 | lad:action-RW | BBB+ | lad:type-LTIDR |  | lad:watch-RWN | lad:basis-FC |  |
| lad:A33 | lad:E14 | 2026-05-01 | lad:action-AF | BBB+ | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-FC |  |
| lad:A40 | lad:E15 | 2024-03-01 | lad:action-AS | A+ | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-LC |  |
| lad:A41 | lad:E15 | 2024-03-01 | lad:action-AS | A | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-FC |  |
| lad:A43 | lad:E16 | 2024-04-01 | lad:action-AS | BBB- | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-FC |  |
| lad:A44 | lad:E16 | 2026-06-01 | lad:action-DG | BB+ | lad:type-LTIDR | lad:outlook-STA |  | lad:basis-FC |  |
| lad:A28 | lad:I05 | 2023-06-01 | lad:action-AS | A- | lad:type-INST |  |  |  |  |
| lad:A29 | lad:I05 | 2026-04-15 | lad:action-DG | BBB+ | lad:type-INST |  |  |  |  |
| lad:A42 | lad:I06 | 2024-03-01 | lad:action-AS | A- | lad:type-INST |  |  |  |  |
| lad:A47 | lad:I08 | 2026-09-01 | lad:action-EX | A | lad:type-INST |  |  |  |  |

Run more queries, or give the final answers.

The model

```sparql
PREFIX lad: <https://example.org/ladder/>
SELECT DISTINCT ?t ?lei WHERE {?a lad:action lad:action-DG; lad:ratedThing ?t; lad:date ?d; lad:ratingType lad:type-LTIDR. ?t lad:lei ?lei FILTER(STR(?d)>="2026-01-01")}
```

```sparql
PREFIX lad: <https://example.org/ladder/>
SELECT ?e ?lei ?b ?r ?w ?ob WHERE {
?a lad:ratingType lad:type-LTIDR; lad:ratedThing ?e; lad:date ?d; lad:ccyBasis ?b; lad:rating ?r. ?e lad:lei ?lei
OPTIONAL{?a lad:watch ?w} OPTIONAL{?a lad:outlook ?ob}
FILTER(STR(?d)<="2026-10-01")
FILTER NOT EXISTS {?a2 lad:ratingType lad:type-LTIDR; lad:ratedThing ?e; lad:ccyBasis ?b; lad:date ?d2 FILTER(STR(?d2)<="2026-10-01" && STR(?d2)>STR(?d))}
FILTER(BOUND(?w) || ?ob = lad:outlook-NEG || ?r = "RD")
}
```

```sparql
PREFIX lad: <https://example.org/ladder/>
SELECT (COUNT(DISTINCT ?lei) AS ?all) (COUNT(DISTINCT ?leiGB) AS ?gb) WHERE {
?a lad:ratingType lad:type-LTIDR; lad:ratedThing ?e; lad:date ?d; lad:ccyBasis ?b; lad:rating ?r. ?e lad:lei ?lei; lad:country ?c
FILTER(STR(?d)<="2026-10-01" && ?r != "WD")
FILTER NOT EXISTS {?a2 lad:ratingType lad:type-LTIDR; lad:ratedThing ?e; lad:ccyBasis ?b; lad:date ?d2 FILTER(STR(?d2)<="2026-10-01" && STR(?d2)>STR(?d))}
BIND(IF(?c="GB",?lei,?unb) AS ?leiGB)
}
```

```sparql
PREFIX lad: <https://example.org/ladder/>
SELECT (COUNT(DISTINCT ?i) AS ?rated) (COUNT(DISTINCT ?ig) AS ?investgrade) WHERE {
?a lad:ratingType lad:type-INST; lad:ratedThing ?i; lad:date ?d; lad:rating ?r; lad:action ?act
FILTER(STR(?d)<="2026-10-01" && ?r != "WD" && ?act != lad:action-EX)
FILTER NOT EXISTS {?a2 lad:ratingType lad:type-INST; lad:ratedThing ?i; lad:date ?d2 FILTER(STR(?d2)<="2026-10-01" && STR(?d2)>STR(?d))}
BIND(IF(?r IN ("AAA","AA+","AA","AA-","A+","A","A-","BBB+","BBB","BBB-"),?i,?unb) AS ?ig)
}
```

```sparql
PREFIX lad: <https://example.org/ladder/>
SELECT ?lei (GROUP_CONCAT(DISTINCT STR(?e);separator=",") AS ?es) WHERE {
?a lad:ratingType lad:type-LTIDR; lad:ratedThing ?e. ?e lad:lei ?lei
FILTER NOT EXISTS {?a3 lad:ratingType lad:type-LTIDR; lad:ratedThing ?e3; lad:date ?d3; lad:ccyBasis ?b3; lad:rating ?r3. ?e3 lad:lei ?lei
 FILTER(STR(?d3)<="2026-10-01" && ?r3!="WD")
 FILTER NOT EXISTS {?a4 lad:ratingType lad:type-LTIDR; lad:ratedThing ?e3; lad:ccyBasis ?b3; lad:date ?d4 FILTER(STR(?d4)<="2026-10-01" && STR(?d4)>STR(?d3))}}
} GROUP BY ?lei
```

```sparql
PREFIX lad: <https://example.org/ladder/>
SELECT ?e ?c ?r WHERE {
?a lad:ratingType lad:type-LTIDR; lad:ratedThing ?e; lad:date ?d; lad:ccyBasis lad:basis-FC; lad:rating ?r. ?e lad:country ?c
FILTER(?c IN ("CV","VD") && STR(?d)<="2026-10-01")
FILTER NOT EXISTS {?a2 lad:ratingType lad:type-LTIDR; lad:ratedThing ?e; lad:ccyBasis lad:basis-FC; lad:date ?d2 FILTER(STR(?d2)<="2026-10-01" && STR(?d2)>STR(?d))}
} ORDER BY ?c ?e
```

```sparql
PREFIX lad: <https://example.org/ladder/>
SELECT (COUNT(DISTINCT ?lei) AS ?all) (COUNT(DISTINCT ?lu) AS ?luc) WHERE { ?e a lad:Entity; lad:lei ?lei; lad:country ?c BIND(IF(?c="LU",?lei,?unb) AS ?lu) }
```

Query results

Query 1:

| t | lei |
|---|---|
| lad:E1034 | 815600KLV84WAQGPSX27 |
| lad:E1051 | 724500WO4TZY2027IZ62 |
| lad:E1053 | 5493001E7O9QDD98PV36 |
| lad:E1057 | 2138009BPHEDKSZHFF68 |
| lad:E1058 | 969500Y1Y66M1421WE10 |
| lad:E1064 | 213800YPXA4OJXD8EB91 |
| lad:E1080 | 815600SERWD64UWU8808 |
| lad:E1093 | 969500IYLWO8RRIOIL83 |
| lad:E1112 | 969500QJ1AV6AZJSB088 |
| lad:E1144 | 213800QV7J1EXLC4YX51 |
| lad:E1151 | 549300XHVH0VBXX4D156 |
| lad:E1159 | 213800VMJXKPLM9ZIL74 |
| lad:E1161 | 969500PM41NS2PBZU440 |
| lad:E1163 | 549300SBMAQCEKT3IC98 |
| lad:E1167 | 5493000NGCMTDC4BZ653 |
| lad:E1170 | 549300XV49ES64RGNQ00 |
| lad:E1186 | 549300OCOVKZOF4FO259 |
| lad:E1213 | 549300A64I73OEIC4R87 |
| lad:E1228 | 724500JFK718P3DNW233 |
| lad:E1229 | 549300GJM0MMFEH84V77 |
| lad:E1243 | 2138008SWUJK7JUSMR14 |
| lad:E1255 | 7245002EC45UEUXQJA30 |
| lad:E1263 | 213800TWNH19JCPPPE80 |
| lad:E1285 | 391200J1XGI3MNYV2584 |
| lad:E1290 | 5493005YGBG4Z7ZGH950 |
| lad:E1294 | 391200WPOJY9F1NTH725 |
| lad:E1299 | 815600RCZP0ISY44E024 |
| lad:E1300 | 391200Z1OH1HXMHTW971 |
| lad:E1307 | 969500CNC5SOCN5K2N29 |
| lad:E1340 | 213800CSTQH7UO0A8E29 |
| lad:E1341 | 549300IFOJRHYHEP5N72 |
| lad:E1342 | 7245000RRKYSQSJ2DB31 |
| lad:E1343 | 969500F1DAQZF8FNJS41 |
| lad:E1344 | 724500N069ZCQGY1UI76 |
| lad:E1345 | 391200T3GEO5X4SJMO02 |
| lad:E1346 | 391200MMTFNAN4NBM054 |
| lad:E1347 | 724500649FYULZG25F44 |
| lad:E1348 | 724500JEL6C1PJZEDM26 |
| lad:E1349 | 724500PGN9P0AMIWNV47 |
| lad:E1350 | 213800GZMC02BI2WJX12 |
| lad:E1351 | 969500MERFFSB2CHQE09 |
| lad:E08 | 969500KOTZ1JFIZSG796 |
| lad:E10 | 391200QYPVFF2O9K2039 |
| lad:E16 | 5493003Z3PXXR7KNFM81 |

Query 2:

| e | lei | b | r | w | ob |
|---|---|---|---|---|---|
| lad:E01 | 7245002OOPBG04092E43 | lad:basis-FC | BBB |  | lad:outlook-NEG |
| lad:E1005 | 815600JRN7AOE36KFR35 | lad:basis-FC | BB |  | lad:outlook-NEG |
| lad:E1006 | 213800WSVEOAQ5HD4C43 | lad:basis-FC | AA | lad:watch-RWN |  |
| lad:E1013 | 969500U072SAPPW32N81 | lad:basis-FC | BB- | lad:watch-RWN |  |
| lad:E1019 | 391200GSFO0F68KKUC67 | lad:basis-LC | BBB- | lad:watch-RWN |  |
| lad:E1029 | 8156008DPX4I9DNKWN26 | lad:basis-FC | A- |  | lad:outlook-NEG |
| lad:E1034 | 815600KLV84WAQGPSX27 | lad:basis-FC | BBB+ |  | lad:outlook-NEG |
| lad:E1037 | 391200OBAXI8590VQN12 | lad:basis-FC | A | lad:watch-RWN |  |
| lad:E1039 | 969500HA9D5I7F73PW83 | lad:basis-FC | A | lad:watch-RWN |  |
| lad:E1046 | 549300ZM08IADSAK3L87 | lad:basis-FC | AA- |  | lad:outlook-NEG |
| lad:E1055 | 724500WWWM8KJ2Q08398 | lad:basis-FC | BBB- |  | lad:outlook-NEG |
| lad:E1056 | 969500DMA3PCFLMC4U98 | lad:basis-FC | A+ |  | lad:outlook-NEG |
| lad:E1060 | 549300CRXZL5I1OT6L14 | lad:basis-FC | BB- |  | lad:outlook-NEG |
| lad:E1059 | 549300CRXZL5I1OT6L14 | lad:basis-LC | BB- | lad:watch-RWN |  |
| lad:E1061 | 5493002BLV266QJVIH90 | lad:basis-FC | A | lad:watch-RWN |  |
| lad:E1064 | 213800YPXA4OJXD8EB91 | lad:basis-FC | A- |  | lad:outlook-NEG |
| lad:E1066 | 213800VQSNQ2434DKS91 | lad:basis-FC | A- | lad:watch-RWN |  |
| lad:E1072 | 969500W1RDU3ZPX1YB94 | lad:basis-FC | BB- |  | lad:outlook-NEG |
| lad:E1079 | 5493000MDIWO1KHI0272 | lad:basis-FC | BB+ |  | lad:outlook-NEG |
| lad:E1080 | 815600SERWD64UWU8808 | lad:basis-FC | A- |  | lad:outlook-NEG |
| lad:E1088 | 549300GS8TRRRJCSVZ45 | lad:basis-FC | B+ | lad:watch-RWN |  |
| lad:E1098 | 724500HD5AQ2MDSXXU69 | lad:basis-FC | BBB- | lad:watch-RWN |  |
| lad:E1099 | 213800XQVJ5IKNNVXY16 | lad:basis-FC | BB+ | lad:watch-RWN |  |
| lad:E1105 | 3912002RB0IGZZN6RN49 | lad:basis-FC | A+ |  | lad:outlook-NEG |
| lad:E1109 | 815600379XSXXQR72R46 | lad:basis-FC | A+ | lad:watch-RWN |  |
| lad:E1118 | 969500ZM445IDEYHCL85 | lad:basis-FC | BB+ |  | lad:outlook-NEG |
| lad:E1126 | 213800QG4ZGLWRUBIQ31 | lad:basis-FC | BB | lad:watch-RWN |  |
| lad:E1132 | 549300WSZI986L1XA988 | lad:basis-FC | B+ | lad:watch-RWN |  |
| lad:E1133 | 549300PSORKEO25SHT85 | lad:basis-FC | B+ | lad:watch-RWN |  |
| lad:E1146 | 7245008Y7HAJI3ZSJK12 | lad:basis-FC | BB | lad:watch-RWN |  |
| lad:E1158 | 9695008UP74QEOJ3KW74 | lad:basis-FC | BBB |  | lad:outlook-NEG |
| lad:E1161 | 969500PM41NS2PBZU440 | lad:basis-FC | B |  | lad:outlook-NEG |
| lad:E1168 | 549300N9NKGSRIO34Y39 | lad:basis-FC | BBB- | lad:watch-RWN |  |
| lad:E1181 | 3912006PQEEWVJETOG62 | lad:basis-FC | A- | lad:watch-RWN |  |
| lad:E1188 | 815600O0Y6S2CPCDAA82 | lad:basis-FC | BB- |  | lad:outlook-NEG |
| lad:E1190 | 549300ENXJ8RIUXUHZ80 | lad:basis-FC | BBB |  | lad:outlook-NEG |
| lad:E1194 | 815600GVTRTKVHG8BO41 | lad:basis-FC | A | lad:watch-RWN |  |
| lad:E1203 | 724500W08E6JP9P9NC97 | lad:basis-FC | BBB+ | lad:watch-RWN |  |
| lad:E1210 | 549300HWTXXHJP2HKU38 | lad:basis-FC | BB | lad:watch-RWN |  |
| lad:E1211 | 2138006JVQYZA2IAU357 | lad:basis-FC | BBB- |  | lad:outlook-NEG |
| lad:E1228 | 724500JFK718P3DNW233 | lad:basis-FC | BB+ |  | lad:outlook-NEG |
| lad:E1238 | 5493004IM0PRT8BSDK29 | lad:basis-FC | AA- | lad:watch-RWN |  |
| lad:E1242 | 213800VNDQV0VN6FVU72 | lad:basis-FC | BBB | lad:watch-RWN |  |
| lad:E1248 | 213800XN4WOS9M0UP985 | lad:basis-FC | A- |  | lad:outlook-NEG |
| lad:E1260 | 969500D8VQO3X7NDHQ76 | lad:basis-FC | BBB- | lad:watch-RWN |  |
| lad:E1262 | 549300H1N0EQEAZLE362 | lad:basis-FC | B+ |  | lad:outlook-NEG |
| lad:E1263 | 213800TWNH19JCPPPE80 | lad:basis-FC | BBB- |  | lad:outlook-NEG |
| lad:E1264 | 549300HH75F3NXLKV336 | lad:basis-FC | B+ | lad:watch-RWN |  |
| lad:E1266 | 724500CD625Q9LIJG838 | lad:basis-FC | BBB | lad:watch-RWN |  |
| lad:E1267 | 8156006G7EEYC0O0U554 | lad:basis-FC | A- | lad:watch-RWN |  |
| lad:E1271 | 213800M91M3NKSWT8K97 | lad:basis-FC | A- |  | lad:outlook-NEG |
| lad:E1282 | 724500GZZJO3VTZ5OY05 | lad:basis-FC | BB+ |  | lad:outlook-NEG |
| lad:E1294 | 391200WPOJY9F1NTH725 | lad:basis-FC | A+ |  | lad:outlook-NEG |
| lad:E1297 | 7245002QMS1HJ8LWKI72 | lad:basis-FC | BBB | lad:watch-RWN |  |
| lad:E1300 | 391200Z1OH1HXMHTW971 | lad:basis-FC | BBB |  | lad:outlook-NEG |
| lad:E1314 | 815600VWY9ZIH3XVHE31 | lad:basis-FC | BBB | lad:watch-RWN |  |
| lad:E1317 | 391200YYRT4OCYJBQT44 | lad:basis-FC | BB | lad:watch-RWN |  |
| lad:E1323 | 9695000MJJR7IQP71F01 | lad:basis-FC | AA- | lad:watch-RWN |  |
| lad:E06 | 549300AMVE3VRVG7HK43 | lad:basis-FC | A- | lad:watch-RWN |  |
| lad:E1340 | 213800CSTQH7UO0A8E29 | lad:basis-FC | BBB+ |  | lad:outlook-NEG |
(10 more rows not shown)

Query 3:

| all | gb |
|---|---|
| 290 | 74 |

Query 4:

| rated | investgrade |
|---|---|
| 106 | 66 |

Query 5:

| lei | es |
|---|---|
| 3912003R00FP6CNV6210 | https://example.org/ladder/E1002 |
| 815600N2UAHQREHHWF76 | https://example.org/ladder/E1007 |
| 391200KLG6G4KVIMIU52 | https://example.org/ladder/E1021 |
| 2138006H9XCYN2P1K228 | https://example.org/ladder/E1032 |
| 549300JU1O5MP1HSKQ01 | https://example.org/ladder/E1041 |
| 9695000T21G05UQMGF10 | https://example.org/ladder/E1048 |
| 2138009BPHEDKSZHFF68 | https://example.org/ladder/E1057 |
| 549300QT2LSIX31F9O17 | https://example.org/ladder/E1062 |
| 9695003FBHLB9KIKNT76 | https://example.org/ladder/E1063 |
| 724500R7NQF1BMLIW829 | https://example.org/ladder/E1076 |
| 391200MB5QFXCD5X8I15 | https://example.org/ladder/E1084 |
| 39120035C3L494GPV335 | https://example.org/ladder/E1107 |
| 815600MZAUY1OCZWJF49 | https://example.org/ladder/E1121 |
| 815600NAKDQJ2L7WWJ01 | https://example.org/ladder/E1124 |
| 724500BSV4X2J7KUR535 | https://example.org/ladder/E1138 |
| 391200IBY0WQGAT3R586 | https://example.org/ladder/E1140 |
| 391200428FS1WJP3AG75 | https://example.org/ladder/E1155 |
| 213800VMJXKPLM9ZIL74 | https://example.org/ladder/E1159 |
| 8156008Z86BWAKVE7I73 | https://example.org/ladder/E1166 |
| 549300F5R74KW6K96H13 | https://example.org/ladder/E1172 |
| 724500L96DLBJOLSDZ06 | https://example.org/ladder/E1200 |
| 391200H4MC1UG4HGZY09 | https://example.org/ladder/E1205 |
| 815600IJD373PYH08A24 | https://example.org/ladder/E1206 |
| 9695003B8HVZN6WVB082 | https://example.org/ladder/E1218 |
| 815600YLA1GXMHYMXP16 | https://example.org/ladder/E1219 |
| 724500AXGCJXTB1DVL94 | https://example.org/ladder/E1225 |
| 3912001DEUC7UPZYE471 | https://example.org/ladder/E1233 |
| 815600HZK0IK4Q5GF769 | https://example.org/ladder/E1234 |
| 969500SQSSYT8HOYOP58 | https://example.org/ladder/E1244 |
| 969500QXEZ0NSV6EIW69 | https://example.org/ladder/E1254 |
| 391200922SWGGGCXM514 | https://example.org/ladder/E1277 |
| 549300IGMPC8HEIKND87 | https://example.org/ladder/E1308 |
| 2138005XQUSYXQWKHP15 | https://example.org/ladder/E1316 |
| 549300P8CEPUO96H4Y59 | https://example.org/ladder/E1320 |
| 969500B6IUACELPI2291 | https://example.org/ladder/E07 |

Query 6:

| e | c | r |
|---|---|---|
| lad:CV | CV | BBB+ |
| lad:E1019 | CV | BB+ |
| lad:E1039 | CV | A |
| lad:E1060 | CV | BB- |
| lad:E1071 | CV | B+ |
| lad:E1096 | CV | BBB |
| lad:E1136 | CV | A- |
| lad:E1144 | CV | B+ |
| lad:E1185 | CV | BB+ |
| lad:E1194 | CV | A |
| lad:E1217 | CV | BB- |
| lad:E1223 | CV | BB+ |
| lad:E1229 | CV | BB+ |
| lad:E1243 | CV | BB |
| lad:E1245 | CV | B+ |
| lad:E1283 | CV | BB |
| lad:E1304 | CV | BB |
| lad:E15 | CV | A |
| lad:E05 | VD | BB |
| lad:E1028 | VD | BB |
| lad:E1101 | VD | BB |
| lad:E1106 | VD | B+ |
| lad:E1126 | VD | BB |
| lad:E1236 | VD | BB |
| lad:E1279 | VD | WD |
| lad:E1307 | VD | BB- |
| lad:E1313 | VD | BB- |

Query 7:

| all | luc |
|---|---|
| 342 | 1 |

Run more queries, or give the final answers.

The model

```sparql
PREFIX lad: <https://example.org/ladder/>
SELECT ?e ?d ?r ?b WHERE {?x lad:rating "RD"; lad:ratedThing ?e. ?a lad:ratedThing ?e; lad:ratingType lad:type-LTIDR; lad:date ?d; lad:rating ?r . OPTIONAL{?a lad:ccyBasis ?b}} ORDER BY ?e ?d
```

```sparql
PREFIX lad: <https://example.org/ladder/>
SELECT ?k (COUNT(DISTINCT ?e) AS ?n) (GROUP_CONCAT(DISTINCT STRAFTER(STR(?e),"ladder/");separator=",") AS ?es) WHERE {
?a lad:ratingType lad:type-LTIDR; lad:ratedThing ?e; lad:date ?d; lad:ccyBasis ?b; lad:rating ?r
OPTIONAL{?a lad:watch ?w} OPTIONAL{?a lad:outlook ?ob}
FILTER(STR(?d)<="2026-10-01")
FILTER NOT EXISTS {?a2 lad:ratingType lad:type-LTIDR; lad:ratedThing ?e; lad:ccyBasis ?b; lad:date ?d2 FILTER(STR(?d2)<="2026-10-01" && STR(?d2)>STR(?d))}
BIND(IF(BOUND(?w),"RWN",IF(?ob=lad:outlook-NEG,"NEG","x")) AS ?k)
FILTER(?k!="x")
} GROUP BY ?k
```

```sparql
PREFIX lad: <https://example.org/ladder/>
SELECT ?s ?p ?o WHERE { { lad:action-EX ?p ?o BIND(lad:action-EX AS ?s) } UNION { lad:A47 ?p ?o BIND(lad:A47 AS ?s) } UNION { ?s lad:action lad:action-EX . BIND(1 AS ?o) BIND(lad:cnt AS ?p) } }
```

```sparql
PREFIX lad: <https://example.org/ladder/>
SELECT (COUNT(?e) AS ?nolei) WHERE { ?e a lad:Entity . FILTER NOT EXISTS {?e lad:lei ?l} }
```

Query results

Query 1:

| e | d | r | b |
|---|---|---|---|
| lad:E08 | 2024-06-01 | B | lad:basis-FC |
| lad:E08 | 2026-01-20 | CCC | lad:basis-FC |
| lad:E08 | 2026-07-08 | RD | lad:basis-FC |

Query 2:

| k | n | es |
|---|---|---|
| NEG | 37 | E01,E1005,E1029,E1034,E1046,E1055,E1056,E1060,E1064,E1072,E1079,E1080,E1105,E1118,E1158,E1161,E1188,E1190,E1211,E1228,E1248,E1262,E1263,E1271,E1282,E1294,E1300,E1340,E1342,E1343,E1344,E1345,E1347,E1348,E1350,E1351,E09 |
| RWN | 32 | E1006,E1013,E1019,E1037,E1039,E1059,E1061,E1066,E1088,E1098,E1099,E1109,E1126,E1132,E1133,E1146,E1168,E1181,E1194,E1203,E1210,E1238,E1242,E1260,E1264,E1266,E1267,E1297,E1314,E1317,E1323,E06 |

Query 3:

| s | p | o |
|---|---|---|
| lad:A47 | rdf:type | lad:RatingAction |
| lad:A47 | rdfs:label | I08 EX A 2026-09-01 |
| lad:A47 | lad:action | lad:action-EX |
| lad:A47 | lad:date | 2026-09-01 |
| lad:A47 | lad:ratedThing | lad:I08 |
| lad:A47 | lad:rating | A |
| lad:A47 | lad:ratingType | lad:type-INST |
| lad:A1011 | lad:cnt | 1 |
| lad:A1029 | lad:cnt | 1 |
| lad:A1033 | lad:cnt | 1 |
| lad:A1051 | lad:cnt | 1 |
| lad:A1078 | lad:cnt | 1 |
| lad:A1120 | lad:cnt | 1 |
| lad:A1345 | lad:cnt | 1 |
| lad:A1357 | lad:cnt | 1 |
| lad:A47 | lad:cnt | 1 |

Query 4:

| nolei |
|---|
| 2 |

This was the last round: give the final answers now, with no more queries.

The model

**Q1.** A-. Kestrel Energy (E01) was assigned A- on 2024-03-12 (A01), and the downgrade to BBB came later, on 2025-06-20 (A02).

**Q2.** No. The only 2026 action on E01 was an affirmation at BBB with a Negative outlook (A03, 2026-02-10).

**Q3.** No. The 2031 note (I02) was downgraded to BB+ on 2025-06-20 (A07), which is sub-investment grade.

**Q4.** Positive. E02 and E03 share one LEI, so they are the same entity. The latest action is A09 (2025-09-15), which affirmed A with a Positive outlook.

**Q5.** The guarantor, Northwind Holdings (E02), rated A. I03 was issued by E04 and guaranteed by E02, and its rating of A (A11) matches E02's.

**Q6.** The data gives no explicit reason. The Valdoria country ceiling is BB (A12), and Valdoria Telecom's foreign-currency rating is BB (A14), against BBB- in local currency (A13). That fits the ceiling capping the foreign-currency rating.

**Q7.** I found 44 issuers with a downgrade of a long-term issuer rating dated in 2026 (listed in the JSON). I did not check whether any of these IDs are duplicate records of one entity.

**Q8.** Saxby Shipping (E08). It was rated RD on 2026-07-08 (A22).

**Q9.** 290. This is the count of distinct LEIs whose latest long-term issuer rating on 2026-10-01 is not WD.

**Q10.** Depends. Local currency is BBB- (investment grade) and foreign currency is BB (not).

**Q11.** BBB+. A36 downgraded Marlow Utilities (E14) from A- to BBB+ on 2024-09-30.

**Q12.** A- (A34).

**Q13.** 1. The only downgrade is A36.

**Q14.** None. Halden Foods' (E12) first rating is dated 2024-02-01 (A30).

**Q15.** A-. Halden Bank (E10) was rated A- (A26) until the downgrade on 2026-04-15 (A27).

**Q16.** No. It was BBB+ on 2025-01-01 and is still BBB+, with only a watch and an affirmation in between (A35, A33).

**Q17.** No. Orrin Bank (E06) only went on Rating Watch Negative (A17).

**Q18.** 32 issuers (IDs in the JSON).

**Q19.** 37 issuers (IDs in the JSON).

**Q20.** No. Pellam Retail's (E07) rating was withdrawn (A19), which is not a default.

**Q21.** 35 entities (IDs in the JSON). These are entities with a rating history whose last long-term issuer rating on 2026-10-01 is a withdrawal or nothing, shown by LEI.

**Q22.** Only E08 (A22, RD).

**Q23.** F2 (A04).

**Q24.** Yes. The issuer rating is BBB.

**Q25.** 66 instruments, counting those whose latest rating on 2026-10-01 is BBB- or better.

**Q26.** A+ (A40).

**Q27.** A- (A42).

**Q28.** BBB+ (A38).

**Q29.** None. Valdoria (VD) has only a Country Ceiling of BB (A12) and no issuer rating.

**Q30.** 8 entities (IDs in the JSON). The ceilings are A for Corvenia and BB for Valdoria, and these entities are rated exactly at them.

**Q31.** No. No Corvenia (CV) or Valdoria (VD) company's foreign-currency issuer rating exceeds its ceiling.

**Q32.** Halden Group (E09). E11 has parent E10, and E10 has parent E09.

**Q33.** The guarantor, Halden Bank (E10), rated BBB+. I05 was guaranteed by E10 (A29 rates the note BBB+, and E10's current rating is also BBB+).

**Q34.** No. E12 has no parent link to the Halden group in the data.

**Q35.** 3 (E09, E10, E11). E17 is a duplicate of E10 by LEI.

**Q36.** 2 (E02, E04). E03 duplicates E02.

**Q37.** 344. There are 342 distinct LEIs, plus the two sovereigns (CV, VD), which have no LEI.

**Q38.** No. They have different LEIs (E06 and E13).

**Q39.** A (A08 and A09).

**Q40.** 74.

**Q41.** BB+ (A44). Brindle Capital (E16) was downgraded on 2026-06-01.

**Q42.** DE. The LU record E17 is a duplicate of E10 by LEI.

**Q43.** 1, counting distinct LEIs.

**Q44.** Yes. Its currency is XVD, which appears to be Valdoria's local currency, though the data never defines it.

**Q45.** Yes. The note is rated BBB- (A45), above the BB ceiling.

**Q46.** No. E11 has only a CO-type rating (A46), not an issuer rating.

**Q47.** None. The only action on I08 is EX (A47, 2026-09-01), which looks like an exit, so there is no current rating. The data does not define EX.

**Q48.** 106. This is the count of instruments with a latest rating on 2026-10-01 that is neither WD nor an EX action.

```json
{"Q1":{"rating":"A-"},"Q2":{"downgraded":"no"},"Q3":{"investment_grade":"no","rating":"BB+"},"Q4":{"outlook":"Positive"},"Q5":{"risk_of":"E02","rating":"A"},"Q7":{"issuers":["E1034","E1051","E1053","E1057","E1058","E1064","E1080","E1093","E1112","E1144","E1151","E1159","E1161","E1163","E1167","E1170","E1186","E1213","E1228","E1229","E1243","E1255","E1263","E1285","E1290","E1294","E1299","E1300","E1307","E1340","E1341","E1342","E1343","E1344","E1345","E1346","E1347","E1348","E1349","E1350","E1351","E08","E10","E16"]},"Q8":{"entities":["E08"]},"Q9":{"count":290},"Q10":{"investment_grade":"depends"},"Q11":{"rating":"BBB+"},"Q12":{"rating":"A-"},"Q13":{"count":1},"Q14":{"rating":"none"},"Q15":{"rating":"A-"},"Q16":{"changed":"no"},"Q17":{"downgraded":"no"},"Q18":{"issuers":["E1006","E1013","E1019","E1037","E1039","E1059","E1061","E1066","E1088","E1098","E1099","E1109","E1126","E1132","E1133","E1146","E1168","E1181","E1194","E1203","E1210","E1238","E1242","E1260","E1264","E1266","E1267","E1297","E1314","E1317","E1323","E06"]},"Q19":{"issuers":["E01","E1005","E1029","E1034","E1046","E1055","E1056","E1060","E1064","E1072","E1079","E1080","E1105","E1118","E1158","E1161","E1188","E1190","E1211","E1228","E1248","E1262","E1263","E1271","E1282","E1294","E1300","E1340","E1342","E1343","E1344","E1345","E1347","E1348","E1350","E1351","E09"]},"Q20":{"in_default":"no"},"Q21":{"entities":["E1002","E1007","E1021","E1032","E1041","E1048","E1057","E1062","E1063","E1076","E1084","E1107","E1121","E1124","E1138","E1140","E1155","E1159","E1166","E1172","E1200","E1205","E1206","E1218","E1219","E1225","E1233","E1234","E1244","E1254","E1277","E1308","E1316","E1320","E07"]},"Q22":{"entities":["E08"]},"Q23":{"rating":"F2"},"Q24":{"investment_grade":"yes"},"Q25":{"count":66},"Q26":{"rating":"A+"},"Q27":{"rating":"A-"},"Q28":{"rating":"BBB+"},"Q29":{"rating":"none"},"Q30":{"entities":["E1039","E1194","E15","E05","E1028","E1101","E1126","E1236"]},"Q31":{"any":"no"},"Q32":{"parent":"E09"},"Q33":{"risk_of":"E10","rating":"BBB+"},"Q34":{"same_group":"no"},"Q35":{"count":3},"Q36":{"count":2},"Q37":{"count":344},"Q38":{"same":"no"},"Q39":{"rating":"A"},"Q40":{"count":74},"Q41":{"rating":"BB+"},"Q42":{"country":"DE"},"Q43":{"count":1},"Q44":{"local_currency":"yes"},"Q45":{"above_ceiling":"yes"},"Q46":{"issuer_rating":"no"},"Q47":{"rating":"none"},"Q48":{"count":106}}
```