D1 sql, run 1: the query session

17 queries1 failed7 rounds

The opening prompt

## The data

You can't see the data, but you can query it. It is in DuckDB, in the tables below. Write DuckDB SQL.

To run queries, reply with one or more fenced blocks (```sql), 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.

All columns are text (VARCHAR); dates are ISO strings.

- `entities` (370 rows): entity_id, name, lei, country, entity_type, parent_id, source_system
- `instruments` (115 rows): instrument_id, description, issuer_id, guarantor_id, seniority, currency, maturity
- `rating_actions` (787 rows): action_id, date, rated_id, rating_type, ccy_basis, action, rating, outlook, watch, comment

## 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

<invoke>
```sql
select * from entities order by entity_id limit 400;
```
```sql
select rating_type, ccy_basis, action, outlook, watch, count(*) from rating_actions group by all order by all;
```
```sql
select * from instruments order by instrument_id;
```
</invoke>

Query results

Query 1:

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

Query 2:

| rating_type | ccy_basis | action | outlook | watch | count_star() |
|---|---|---|---|---|---|
| CC |  | AS |  |  | 2 |
| CO |  | AS |  |  | 7 |
| INST |  | AF |  |  | 1 |
| INST |  | AS |  |  | 106 |
| INST |  | DG |  |  | 3 |
| INST |  | EX |  |  | 9 |
| LTIDR | FC | AF | NEG |  | 22 |
| LTIDR | FC | AF | POS |  | 15 |
| LTIDR | FC | AF | STA |  | 44 |
| LTIDR | FC | AS | STA |  | 326 |
| LTIDR | FC | DG | NEG |  | 27 |
| LTIDR | FC | DG | POS |  | 24 |
| LTIDR | FC | DG | STA |  | 35 |
| LTIDR | FC | DG |  |  | 2 |
| LTIDR | FC | RW |  | RWN | 45 |
| LTIDR | FC | UG | NEG |  | 8 |
| LTIDR | FC | UG | POS |  | 10 |
| LTIDR | FC | UG | STA |  | 27 |
| LTIDR | FC | WD |  |  | 39 |
| LTIDR | LC | AF | POS |  | 1 |
| LTIDR | LC | AF | STA |  | 3 |
| LTIDR | LC | AS | STA |  | 19 |
| LTIDR | LC | DG | NEG |  | 1 |
| LTIDR | LC | DG | POS |  | 1 |
| LTIDR | LC | DG | STA |  | 2 |
| LTIDR | LC | RW |  | RWN | 3 |
| LTIDR | LC | UG | POS |  | 1 |
| LTIDR | LC | UG | STA |  | 2 |
| LTIDR | LC | WD |  |  | 1 |
| STIDR | FC | AF |  |  | 1 |

Query 3:

| instrument_id | description | issuer_id | guarantor_id | seniority | currency | maturity |
|---|---|---|---|---|---|---|
| I01 | Kestrel Energy 4.50% notes due 2030 | E01 |  | SU | GBP | 2030-03-15 |
| I02 | Kestrel Energy 6.25% notes due 2031 | E01 |  | SUB | GBP | 2031-09-30 |
| I03 | Northwind Finance 3.75% notes due 2030 | E04 | E02 | SU | EUR | 2030-05-01 |
| I04 | Valdoria Telecom 5.00% notes due 2029 | E05 |  | SU | USD | 2029-11-20 |
| I05 | Halden Leasing 2.90% notes due 2028 | E11 | E10 | SU | EUR | 2028-06-30 |
| I06 | Corvenia Power 7.10% notes due 2032 | E15 |  | SUB | USD | 2032-02-15 |
| I07 | Valdoria Telecom 4.25% notes due 2027 | E05 |  | SU | XVD | 2027-08-31 |
| I08 | Corvenia Power 6.00% notes due 2034 | E15 |  | SU | USD | 2034-09-01 |
| I1001 | Soson Airlines 5.50% notes due 2031 | E1006 |  | SUB | USD | 2035-06-30 |
| I1002 | Golod Property 8.75% notes due 2031 | E1007 |  | SU | USD | 2033-06-30 |
| I1003 | Sotil Retail 3.00% notes due 2031 | E1008 |  | SU | GBP | 2034-06-30 |
| I1004 | Malam Chemicals 2.25% notes due 2035 | E1009 |  | SU | USD | 2028-06-30 |
| I1005 | Posad Industries 4.00% notes due 2033 | E1012 |  | SU | EUR | 2031-06-30 |
| I1006 | Pisol Pharma 4.75% notes due 2030 | E1013 |  | SUB | USD | 2030-06-30 |
| I1007 | Toral Utilities 7.75% notes due 2028 | E1014 |  | SU | EUR | 2033-06-30 |
| I1008 | Ponar Telecom 4.75% notes due 2035 | E1016 |  | SU | EUR | 2033-06-30 |
| I1009 | Tosem Mining 2.75% notes due 2031 | E1018 |  | SUB | USD | 2036-06-30 |
| I1010 | Finel Media 6.50% notes due 2035 | E1020 |  | SU | EUR | 2036-06-30 |
| I1011 | Niner Pharma 3.25% notes due 2029 | E1021 |  | SU | USD | 2035-06-30 |
| I1012 | Heled Water 6.25% notes due 2030 | E1023 |  | SU | GBP | 2031-06-30 |
| I1013 | Kuvir Logistics 2.00% notes due 2027 | E1031 |  | SU | EUR | 2027-06-30 |
| I1014 | Kavod Utilities 2.50% notes due 2032 | E1035 |  | SU | USD | 2036-06-30 |
| I1015 | Lanon Telecom 4.75% notes due 2033 | E1038 |  | SUB | EUR | 2032-06-30 |
| I1016 | Hiral Steel 6.00% notes due 2035 | E1041 |  | SU | USD | 2034-06-30 |
| I1017 | Lised Pharma 4.50% notes due 2036 | E1048 |  | SU | EUR | 2029-06-30 |
| I1018 | Paser Utilities 3.75% notes due 2027 | E1049 |  | SUB | GBP | 2034-06-30 |
| I1019 | Sunar Holdings 8.50% notes due 2036 | E1050 |  | SUB | USD | 2034-06-30 |
| I1020 | Witad Steel 5.00% notes due 2033 | E1052 |  | SU | EUR | 2027-06-30 |
| I1021 | Duver Shipping 8.50% notes due 2032 | E1056 |  | SU | EUR | 2030-06-30 |
| I1022 | Levem Foods 6.50% notes due 2035 | E1067 |  | SUB | EUR | 2030-06-30 |
| I1023 | Mored Utilities 4.25% notes due 2032 | E1071 |  | SUB | USD | 2033-06-30 |
| I1024 | Ganed Holdings 5.75% notes due 2035 | E1077 |  | SU | EUR | 2032-06-30 |
| I1025 | Menir Shipping 7.50% notes due 2028 | E1078 |  | SUB | EUR | 2034-06-30 |
| I1026 | Nevar Property 6.75% notes due 2036 | E1079 |  | SU | GBP | 2028-06-30 |
| I1027 | Gilen Capital 2.00% notes due 2031 | E1082 |  | SUB | USD | 2034-06-30 |
| I1028 | Givim Mining 5.75% notes due 2036 | E1085 |  | SU | EUR | 2034-06-30 |
| I1029 | Gorar Steel 7.25% notes due 2033 | E1086 |  | SUB | USD | 2035-06-30 |
| I1030 | Vitid Holdings 5.75% notes due 2032 | E1087 |  | SU | EUR | 2034-06-30 |
| I1031 | Koved Holdings 2.50% notes due 2032 | E1088 |  | SUB | EUR | 2033-06-30 |
| I1032 | Getel Utilities 7.25% notes due 2033 | E1090 |  | SU | USD | 2032-06-30 |
| I1033 | Vavam Pharma 8.75% notes due 2032 | E1103 |  | SUB | USD | 2032-06-30 |
| I1034 | Kisil Logistics 8.50% notes due 2031 | E1108 |  | SU | EUR | 2033-06-30 |
| I1035 | Verod Logistics 3.00% notes due 2035 | E1114 |  | SU | GBP | 2029-06-30 |
| I1036 | Piren Foods 2.50% notes due 2030 | E1115 |  | SU | USD | 2033-06-30 |
| I1037 | Reter Shipping 8.00% notes due 2028 | E1118 |  | SU | EUR | 2027-06-30 |
| I1038 | Conan Capital 4.75% notes due 2033 | E1131 |  | SU | EUR | 2031-06-30 |
| I1039 | Larid Steel 8.50% notes due 2028 | E1141 |  | SU | GBP | 2033-06-30 |
| I1040 | Woner Media 5.75% notes due 2027 | E1143 |  | SUB | EUR | 2027-06-30 |
| I1041 | Kanim Pharma 3.25% notes due 2033 | E1145 |  | SUB | EUR | 2036-06-30 |
| I1042 | Daren Mining 5.75% notes due 2030 | E1147 |  | SU | EUR | 2035-06-30 |
| I1043 | Honel Shipping 4.50% notes due 2028 | E1149 |  | SUB | EUR | 2029-06-30 |
| I1044 | Wavad Foods 6.75% notes due 2035 | E1155 |  | SU | USD | 2036-06-30 |
| I1045 | Ruven Airlines 5.75% notes due 2032 | E1156 |  | SUB | EUR | 2036-06-30 |
| I1046 | Diled Steel 8.75% notes due 2027 | E1160 |  | SU | EUR | 2029-06-30 |
| I1047 | Wunam Telecom 5.25% notes due 2032 | E1162 |  | SU | EUR | 2029-06-30 |
| I1048 | Wenar Water 8.25% notes due 2028 | E1163 |  | SUB | EUR | 2028-06-30 |
| I1049 | Ranim Shipping 8.00% notes due 2028 | E1166 |  | SUB | USD | 2036-06-30 |
| I1050 | Fivan Holdings 2.25% notes due 2035 | E1168 |  | SU | EUR | 2027-06-30 |
| I1051 | Molar Shipping 3.25% notes due 2031 | E1188 |  | SU | EUR | 2028-06-30 |
| I1052 | Divid Property 4.25% notes due 2033 | E1189 |  | SUB | GBP | 2032-06-30 |
(55 more rows not shown)

Run more queries, or give the final answers.

The model

<invoke>
<parameter name="x">
```sql
select * from entities where entity_id in ('CV','VD') or entity_id between 'E11' and 'E30' or name ilike '%brindle%' or name ilike '%marlow%' or name ilike '%halden%' or name ilike '%corvenia%' or name ilike '%valdoria%' or name ilike '%northwind%' or name ilike '%orrin%' or name ilike '%pellam%' order by entity_id;
```
```sql
select * from rating_actions where rated_id in ('E01','E02','E03','E04','E05','E06','E07','E08','E09','E10','I01','I02','I03','I04','I05','I06','I07','I08') order by rated_id, date;
```
```sql
select * from rating_actions where comment is not null and comment<>'' and rating_type in ('CC','CO') or rating_type='STIDR' order by date;
```
</parameter>
</invoke>
```

Query results

Query 1:

| entity_id | name | lei | country | entity_type | parent_id | source_system |
|---|---|---|---|---|---|---|
| CV | Republic of Corvenia |  | CV | SOV |  | RATINGS |
| E02 | Northwind Holdings plc | 213800PHEIYNJMHTDV74 | GB | CORP |  | RATINGS |
| E03 | NORTHWIND HLDGS | 213800PHEIYNJMHTDV74 | GB | CORP |  | RESEARCH |
| E04 | Northwind Finance BV | 213800LA5RYJLGXV2T85 | NL | FINSUB | E02 | RATINGS |
| E05 | Valdoria Telecom SA | 391200LESH03LMOY2U61 | VD | CORP |  | RATINGS |
| E06 | Orrin Bank AG | 549300AMVE3VRVG7HK43 | DE | BANK |  | RATINGS |
| E07 | Pellam Retail Ltd | 969500B6IUACELPI2291 | GB | CORP |  | RATINGS |
| E09 | Halden Group plc | 815600ASM9EHDG931T89 | GB | CORP |  | RATINGS |
| E10 | Halden Bank AG | 391200QYPVFF2O9K2039 | DE | BANK | E09 | RATINGS |
| E11 | Halden Leasing SA | 549300XBZH4ULO9MQV55 | FR | FINSUB | E10 | RATINGS |
| E1100 | Winan Chemicals AG | 213800TV6XNVW6TD8O52 | DE | BANK |  | RATINGS |
| E1101 | Doror Telecom SA | 815600YUVYKAXDN9LE93 | VD | CORP | E1083 | RATINGS |
| E1102 | Manid Property SpA | 815600BOBQSLCRWUB459 | IT | CORP |  | RATINGS |
| E1103 | Vavam Pharma Inc | 815600HDI8Y3IWGOOH22 | US | CORP |  | RATINGS |
| E1104 | VAVAM PHARMA INC | 815600HDI8Y3IWGOOH22 | US | CORP |  | RESEARCH |
| E1105 | Betin Pharma SA | 3912002RB0IGZZN6RN49 | GR | CORP |  | RATINGS |
| E1106 | Reril Pharma SA | 724500MTRZ5RNJAKRB00 | VD | BANK |  | RATINGS |
| E1107 | Warod Capital SA | 39120035C3L494GPV335 | FR | CORP |  | RATINGS |
| E1108 | Kisil Logistics AG | 8156001ZRSLGA0KHXR41 | DE | CORP |  | RATINGS |
| E1109 | Susal Energy BV | 815600379XSXXQR72R46 | NL | CORP |  | RATINGS |
| E1110 | Rinar Industries SA | 815600DZBIB9VS57NE44 | ES | CORP | E1007 | RATINGS |
| E1111 | Solil Industries SA | 724500D8RI4YFRZ71884 | GR | CORP |  | RATINGS |
| E1112 | Calem Logistics Inc | 969500QJ1AV6AZJSB088 | US | CORP |  | RATINGS |
| E1113 | Dolal Telecom SA | 815600803W084A3YEL77 | ES | BANK |  | RATINGS |
| E1114 | Verod Logistics plc | 213800VNSK3FDUWI9Q67 | GB | CORP | E1063 | RATINGS |
| E1115 | Piren Foods plc | 724500MTPRXFHT68GB84 | GB | CORP |  | RATINGS |
| E1116 | Hener Energy plc | 391200JN4T4KY2HCRU75 | GB | CORP |  | RATINGS |
| E1117 | HENER ENERGY | 391200JN4T4KY2HCRU75 | GB | CORP |  | RESEARCH |
| E1118 | Reter Shipping AG | 969500ZM445IDEYHCL85 | DE | CORP |  | RATINGS |
| E1119 | Nuner Holdings SpA | 5493007DOMNBIWQWGR68 | IT | CORP |  | RATINGS |
| E1120 | Welil Industries AG | 391200CM3S394IM9GC09 | DE | CORP |  | RATINGS |
| E1121 | Matal Foods AG | 815600MZAUY1OCZWJF49 | DE | CORP |  | RATINGS |
| E1122 | Gesed Capital plc | 391200ACJQ1TIF3U6I69 | GB | CORP |  | RATINGS |
| E1123 | Suler Water plc | 815600M9GYQA4WWV6W37 | GB | BANK |  | RATINGS |
| E1124 | Dolom Steel plc | 815600NAKDQJ2L7WWJ01 | GB | CORP |  | RATINGS |
| E1125 | Kotir Water Inc | 969500J5HIM8YK8D3832 | US | CORP |  | RATINGS |
| E1126 | Goter Capital SA | 213800QG4ZGLWRUBIQ31 | VD | BANK |  | RATINGS |
| E1127 | Helid Steel SA | 213800REUQQKVFZ8XB81 | FR | BANK |  | RATINGS |
| E1128 | Lunel Media plc | 9695008ZNRDSQ5T1SG98 | GB | CORP |  | RATINGS |
| E1129 | Hesor Energy Inc | 391200PME83MK93N8Z61 | US | CORP |  | RATINGS |
| E1130 | Dirim Capital SA | 391200TSQ5VA0DA4C007 | FR | CORP |  | RATINGS |
| E1131 | Conan Capital SA | 213800Q6JLQDFM0X9H13 | FR | CORP |  | RATINGS |
| E1132 | Deler Logistics Inc | 549300WSZI986L1XA988 | US | BANK |  | RATINGS |
| E1133 | Sorir Water Inc | 549300PSORKEO25SHT85 | US | CORP |  | RATINGS |
| E1134 | Vulin Utilities AG | 969500QS8AVGZ6CEXK27 | DE | CORP |  | RATINGS |
| E1135 | Bosar Retail plc | 549300C138N2A3615Y70 | GB | BANK |  | RATINGS |
| E1136 | Lenom Shipping SA | 391200C93222W97BIT34 | CV | CORP |  | RATINGS |
| E1137 | Ronam Shipping AG | 969500ZHKP5H51WXI091 | DE | BANK |  | RATINGS |
| E1138 | Konel Energy BV | 724500BSV4X2J7KUR535 | NL | CORP |  | RATINGS |
| E1139 | KONEL ENERGY BV | 724500BSV4X2J7KUR535 | NL | CORP |  | RESEARCH |
| E1140 | Danem Industries Inc | 391200IBY0WQGAT3R586 | US | CORP |  | RATINGS |
| E1141 | Larid Steel plc | 391200W47D7VYX9MFZ96 | GB | CORP |  | RATINGS |
| E1142 | Dasem Media BV | 3912006CF5A1XYZZT210 | NL | CORP |  | RATINGS |
| E1143 | Woner Media SA | 815600HKKJNXG3S3TM53 | ES | CORP |  | RATINGS |
| E1144 | Witan Logistics SA | 213800QV7J1EXLC4YX51 | CV | CORP |  | RATINGS |
| E1145 | Kanim Pharma AG | 724500BNAIM5VJE4XC29 | DE | CORP |  | RATINGS |
| E1146 | Taril Industries Inc | 7245008Y7HAJI3ZSJK12 | US | CORP |  | RATINGS |
| E1147 | Daren Mining SA | 391200E9TAHDZV7CY568 | FR | CORP |  | RATINGS |
| E1148 | DAREN MINING SA | 391200E9TAHDZV7CY568 | FR | CORP |  | RESEARCH |
| E1149 | Honel Shipping BV | 969500DV6LOBOACJKE42 | NL | CORP | E1013 | RATINGS |
(209 more rows not shown)

Query 2:

| action_id | date | rated_id | rating_type | ccy_basis | action | rating | outlook | watch | comment |
|---|---|---|---|---|---|---|---|---|---|
| A01 | 2024-03-12 | E01 | LTIDR | FC | AS | A- | STA |  |  |
| A02 | 2025-06-20 | E01 | LTIDR | FC | DG | BBB | STA |  | weaker cash flow after asset sale |
| A03 | 2026-02-10 | E01 | LTIDR | FC | AF | BBB | NEG |  |  |
| A04 | 2026-02-10 | E01 | STIDR | FC | AF | F2 |  |  |  |
| A08 | 2023-11-01 | E02 | LTIDR | FC | AS | A | STA |  |  |
| A09 | 2025-09-15 | E03 | LTIDR | FC | AF | A | POS |  |  |
| A13 | 2025-04-01 | E05 | LTIDR | LC | AS | BBB- | STA |  |  |
| A14 | 2025-04-01 | E05 | LTIDR | FC | AS | BB | STA |  |  |
| A16 | 2024-05-01 | E06 | LTIDR | FC | AS | A- | STA |  |  |
| A17 | 2026-09-03 | E06 | LTIDR | FC | RW | A- |  | RWN |  |
| A18 | 2024-01-10 | E07 | LTIDR | FC | AS | BB | STA |  |  |
| A19 | 2026-05-12 | E07 | LTIDR | FC | WD | WD |  |  | commercial reasons |
| A20 | 2024-06-01 | E08 | LTIDR | FC | AS | B | STA |  |  |
| A21 | 2026-01-20 | E08 | LTIDR | FC | DG | CCC |  |  |  |
| A22 | 2026-07-08 | E08 | LTIDR | FC | DG | RD |  |  | distressed debt exchange completed |
| A24 | 2023-05-01 | E09 | LTIDR | FC | AS | A | STA |  |  |
| A25 | 2026-03-01 | E09 | LTIDR | FC | AF | A | NEG |  |  |
| A26 | 2023-05-01 | E10 | LTIDR | FC | AS | A- | STA |  | support from parent |
| A27 | 2026-04-15 | E10 | LTIDR | FC | DG | BBB+ | STA |  |  |
| A05 | 2024-03-12 | I01 | INST |  | AS | A- |  |  |  |
| A06 | 2025-06-20 | I01 | INST |  | DG | BBB |  |  |  |
| A23 | 2024-03-12 | I02 | INST |  | AS | BBB |  |  |  |
| A07 | 2025-06-20 | I02 | INST |  | DG | BB+ |  |  |  |
| A10 | 2023-11-01 | I03 | INST |  | AS | A |  |  |  |
| A11 | 2025-09-15 | I03 | INST |  | AF | A |  |  |  |
| A15 | 2025-04-01 | I04 | INST |  | AS | BB |  |  |  |
| A28 | 2023-06-01 | I05 | INST |  | AS | A- |  |  |  |
| A29 | 2026-04-15 | I05 | INST |  | DG | BBB+ |  |  |  |
| A42 | 2024-03-01 | I06 | INST |  | AS | A- |  |  |  |
| A45 | 2025-04-01 | I07 | INST |  | AS | BBB- |  |  |  |
| A47 | 2026-09-01 | I08 | INST |  | EX | A |  |  |  |

Query 3:

| action_id | date | rated_id | rating_type | ccy_basis | action | rating | outlook | watch | comment |
|---|---|---|---|---|---|---|---|---|---|
| A04 | 2026-02-10 | E01 | STIDR | FC | AF | F2 |  |  |  |

Run more queries, or give the final answers.

The model

<invoke>
<parameter name="x">
```sql
select * from entities where entity_id between 'E11' and 'E99' or name ilike '%brindle%' or name ilike '%marlow%' or name ilike '%corvenia%' or name ilike '%orrin%' or name ilike '%halden%' or name ilike '%northwind%' order by entity_id;
```
```sql
select * from rating_actions where rating_type in ('CC','CO') or rated_id in ('CV','VD') or rated_id in (select entity_id from entities where entity_id between 'E11' and 'E99' or name ilike '%brindle%' or name ilike '%marlow%' or name ilike '%corvenia%' or name ilike '%orrin%') or rated_id in ('I09','I10','I11','I12') order by rated_id, date;
```
```sql
select * from instruments where instrument_id not like 'I1%' or issuer_id in (select entity_id from entities where entity_id between 'E11' and 'E99') order by 1;
```
</parameter>
```

Query results

Query 1:

| entity_id | name | lei | country | entity_type | parent_id | source_system |
|---|---|---|---|---|---|---|
| CV | Republic of Corvenia |  | CV | SOV |  | RATINGS |
| E02 | Northwind Holdings plc | 213800PHEIYNJMHTDV74 | GB | CORP |  | RATINGS |
| E03 | NORTHWIND HLDGS | 213800PHEIYNJMHTDV74 | GB | CORP |  | RESEARCH |
| E04 | Northwind Finance BV | 213800LA5RYJLGXV2T85 | NL | FINSUB | E02 | RATINGS |
| E06 | Orrin Bank AG | 549300AMVE3VRVG7HK43 | DE | BANK |  | RATINGS |
| E09 | Halden Group plc | 815600ASM9EHDG931T89 | GB | CORP |  | RATINGS |
| E10 | Halden Bank AG | 391200QYPVFF2O9K2039 | DE | BANK | E09 | RATINGS |
| E11 | Halden Leasing SA | 549300XBZH4ULO9MQV55 | FR | FINSUB | E10 | RATINGS |
| E1100 | Winan Chemicals AG | 213800TV6XNVW6TD8O52 | DE | BANK |  | RATINGS |
| E1101 | Doror Telecom SA | 815600YUVYKAXDN9LE93 | VD | CORP | E1083 | RATINGS |
| E1102 | Manid Property SpA | 815600BOBQSLCRWUB459 | IT | CORP |  | RATINGS |
| E1103 | Vavam Pharma Inc | 815600HDI8Y3IWGOOH22 | US | CORP |  | RATINGS |
| E1104 | VAVAM PHARMA INC | 815600HDI8Y3IWGOOH22 | US | CORP |  | RESEARCH |
| E1105 | Betin Pharma SA | 3912002RB0IGZZN6RN49 | GR | CORP |  | RATINGS |
| E1106 | Reril Pharma SA | 724500MTRZ5RNJAKRB00 | VD | BANK |  | RATINGS |
| E1107 | Warod Capital SA | 39120035C3L494GPV335 | FR | CORP |  | RATINGS |
| E1108 | Kisil Logistics AG | 8156001ZRSLGA0KHXR41 | DE | CORP |  | RATINGS |
| E1109 | Susal Energy BV | 815600379XSXXQR72R46 | NL | CORP |  | RATINGS |
| E1110 | Rinar Industries SA | 815600DZBIB9VS57NE44 | ES | CORP | E1007 | RATINGS |
| E1111 | Solil Industries SA | 724500D8RI4YFRZ71884 | GR | CORP |  | RATINGS |
| E1112 | Calem Logistics Inc | 969500QJ1AV6AZJSB088 | US | CORP |  | RATINGS |
| E1113 | Dolal Telecom SA | 815600803W084A3YEL77 | ES | BANK |  | RATINGS |
| E1114 | Verod Logistics plc | 213800VNSK3FDUWI9Q67 | GB | CORP | E1063 | RATINGS |
| E1115 | Piren Foods plc | 724500MTPRXFHT68GB84 | GB | CORP |  | RATINGS |
| E1116 | Hener Energy plc | 391200JN4T4KY2HCRU75 | GB | CORP |  | RATINGS |
| E1117 | HENER ENERGY | 391200JN4T4KY2HCRU75 | GB | CORP |  | RESEARCH |
| E1118 | Reter Shipping AG | 969500ZM445IDEYHCL85 | DE | CORP |  | RATINGS |
| E1119 | Nuner Holdings SpA | 5493007DOMNBIWQWGR68 | IT | CORP |  | RATINGS |
| E1120 | Welil Industries AG | 391200CM3S394IM9GC09 | DE | CORP |  | RATINGS |
| E1121 | Matal Foods AG | 815600MZAUY1OCZWJF49 | DE | CORP |  | RATINGS |
| E1122 | Gesed Capital plc | 391200ACJQ1TIF3U6I69 | GB | CORP |  | RATINGS |
| E1123 | Suler Water plc | 815600M9GYQA4WWV6W37 | GB | BANK |  | RATINGS |
| E1124 | Dolom Steel plc | 815600NAKDQJ2L7WWJ01 | GB | CORP |  | RATINGS |
| E1125 | Kotir Water Inc | 969500J5HIM8YK8D3832 | US | CORP |  | RATINGS |
| E1126 | Goter Capital SA | 213800QG4ZGLWRUBIQ31 | VD | BANK |  | RATINGS |
| E1127 | Helid Steel SA | 213800REUQQKVFZ8XB81 | FR | BANK |  | RATINGS |
| E1128 | Lunel Media plc | 9695008ZNRDSQ5T1SG98 | GB | CORP |  | RATINGS |
| E1129 | Hesor Energy Inc | 391200PME83MK93N8Z61 | US | CORP |  | RATINGS |
| E1130 | Dirim Capital SA | 391200TSQ5VA0DA4C007 | FR | CORP |  | RATINGS |
| E1131 | Conan Capital SA | 213800Q6JLQDFM0X9H13 | FR | CORP |  | RATINGS |
| E1132 | Deler Logistics Inc | 549300WSZI986L1XA988 | US | BANK |  | RATINGS |
| E1133 | Sorir Water Inc | 549300PSORKEO25SHT85 | US | CORP |  | RATINGS |
| E1134 | Vulin Utilities AG | 969500QS8AVGZ6CEXK27 | DE | CORP |  | RATINGS |
| E1135 | Bosar Retail plc | 549300C138N2A3615Y70 | GB | BANK |  | RATINGS |
| E1136 | Lenom Shipping SA | 391200C93222W97BIT34 | CV | CORP |  | RATINGS |
| E1137 | Ronam Shipping AG | 969500ZHKP5H51WXI091 | DE | BANK |  | RATINGS |
| E1138 | Konel Energy BV | 724500BSV4X2J7KUR535 | NL | CORP |  | RATINGS |
| E1139 | KONEL ENERGY BV | 724500BSV4X2J7KUR535 | NL | CORP |  | RESEARCH |
| E1140 | Danem Industries Inc | 391200IBY0WQGAT3R586 | US | CORP |  | RATINGS |
| E1141 | Larid Steel plc | 391200W47D7VYX9MFZ96 | GB | CORP |  | RATINGS |
| E1142 | Dasem Media BV | 3912006CF5A1XYZZT210 | NL | CORP |  | RATINGS |
| E1143 | Woner Media SA | 815600HKKJNXG3S3TM53 | ES | CORP |  | RATINGS |
| E1144 | Witan Logistics SA | 213800QV7J1EXLC4YX51 | CV | CORP |  | RATINGS |
| E1145 | Kanim Pharma AG | 724500BNAIM5VJE4XC29 | DE | CORP |  | RATINGS |
| E1146 | Taril Industries Inc | 7245008Y7HAJI3ZSJK12 | US | CORP |  | RATINGS |
| E1147 | Daren Mining SA | 391200E9TAHDZV7CY568 | FR | CORP |  | RATINGS |
| E1148 | DAREN MINING SA | 391200E9TAHDZV7CY568 | FR | CORP |  | RESEARCH |
| E1149 | Honel Shipping BV | 969500DV6LOBOACJKE42 | NL | CORP | E1013 | RATINGS |
| E1150 | Kolan Energy Inc | 213800NDF6XIU4TG5W98 | US | CORP |  | RATINGS |
| E1151 | Nunan Media SA | 549300XHVH0VBXX4D156 | ES | CORP |  | RATINGS |
(206 more rows not shown)

Query 2:

| action_id | date | rated_id | rating_type | ccy_basis | action | rating | outlook | watch | comment |
|---|---|---|---|---|---|---|---|---|---|
| A37 | 2024-01-01 | CV | CC |  | AS | A |  |  |  |
| A38 | 2024-01-01 | CV | LTIDR | FC | AS | BBB+ | STA |  |  |
| A39 | 2024-01-01 | CV | LTIDR | LC | AS | A- | STA |  |  |
| A16 | 2024-05-01 | E06 | LTIDR | FC | AS | A- | STA |  |  |
| A17 | 2026-09-03 | E06 | LTIDR | FC | RW | A- |  | RWN |  |
| A46 | 2025-02-01 | E11 | CO |  | AS | BBB |  |  |  |
| A1215 | 2023-05-10 | E1100 | LTIDR | FC | AS | B+ | STA |  |  |
| A1216 | 2024-09-18 | E1100 | LTIDR | FC | DG | B | POS |  |  |
| A1217 | 2025-02-07 | E1100 | LTIDR | FC | UG | B+ | NEG |  |  |
| A1218 | 2025-10-12 | E1100 | LTIDR | FC | AF | B+ | STA |  |  |
| A1220 | 2022-10-26 | E1101 | LTIDR | LC | AS | BB+ | STA |  |  |
| A1219 | 2022-10-26 | E1101 | LTIDR | FC | AS | BB | STA |  |  |
| A1221 | 2024-04-15 | E1102 | LTIDR | FC | AS | AA- | STA |  |  |
| A1222 | 2025-05-28 | E1102 | LTIDR | FC | UG | AA | STA |  |  |
| A1223 | 2024-12-05 | E1104 | LTIDR | FC | AS | B+ | STA |  |  |
| A1225 | 2024-01-02 | E1105 | LTIDR | FC | AS | A | STA |  |  |
| A1227 | 2024-01-04 | E1105 | LTIDR | FC | DG | A | STA |  |  |
| A1226 | 2024-01-13 | E1105 | LTIDR | FC | UG | A+ | NEG |  |  |
| A1229 | 2024-10-26 | E1106 | LTIDR | LC | AS | BB | STA |  |  |
| A1228 | 2024-10-26 | E1106 | LTIDR | FC | AS | B+ | STA |  |  |
| A1230 | 2025-08-10 | E1106 | LTIDR | LC | WD | WD |  |  | commercial reasons |
| A1231 | 2023-05-25 | E1107 | LTIDR | FC | AS | B+ | STA |  |  |
| A1232 | 2024-03-27 | E1107 | LTIDR | FC | DG | B | POS |  |  |
| A1233 | 2024-10-16 | E1107 | LTIDR | FC | WD | WD |  |  | commercial reasons |
| A1234 | 2025-03-25 | E1108 | LTIDR | FC | AS | A- | STA |  |  |
| A1236 | 2024-02-20 | E1109 | LTIDR | FC | AS | A+ | STA |  |  |
| A1238 | 2025-06-25 | E1109 | LTIDR | FC | DG | A | STA |  |  |
| A1237 | 2025-12-25 | E1109 | LTIDR | FC | RW | A+ |  | RWN |  |
| A1239 | 2022-04-17 | E1110 | LTIDR | FC | AS | BBB | STA |  |  |
| A1240 | 2025-10-19 | E1110 | LTIDR | FC | DG | BBB- | STA |  |  |
| A1241 | 2025-10-15 | E1111 | LTIDR | FC | AS | BB | STA |  |  |
| A1242 | 2023-04-10 | E1112 | LTIDR | FC | AS | BBB+ | STA |  |  |
| A1243 | 2025-05-23 | E1112 | LTIDR | FC | AF | BBB+ | STA |  |  |
| A1244 | 2026-02-20 | E1112 | LTIDR | FC | DG | BBB | POS |  |  |
| A1245 | 2022-03-01 | E1113 | LTIDR | FC | AS | AA- | STA |  |  |
| A1246 | 2024-09-12 | E1114 | LTIDR | FC | AS | BB | STA |  |  |
| A1247 | 2026-02-20 | E1114 | LTIDR | FC | AF | BB | STA |  |  |
| A1249 | 2022-09-01 | E1115 | LTIDR | FC | AS | A+ | STA |  |  |
| A1251 | 2025-06-28 | E1115 | LTIDR | FC | WD | WD |  |  | commercial reasons |
| A1250 | 2025-08-06 | E1115 | LTIDR | FC | UG | AA- | STA |  |  |
| A1253 | 2022-12-09 | E1117 | LTIDR | FC | AS | A+ | STA |  |  |
| A1254 | 2022-10-15 | E1118 | LTIDR | FC | AS | BBB- | STA |  |  |
| A1255 | 2025-07-14 | E1118 | LTIDR | FC | DG | BB+ | NEG |  |  |
| A1257 | 2025-01-18 | E1119 | LTIDR | FC | AS | BBB | STA |  |  |
| A1258 | 2025-02-04 | E1119 | LTIDR | FC | DG | BBB- | STA |  |  |
| A1259 | 2025-04-28 | E1119 | LTIDR | FC | DG | BB+ | STA |  |  |
| A1260 | 2024-08-07 | E1120 | LTIDR | FC | AS | A+ | STA |  |  |
| A1261 | 2024-01-25 | E1121 | LTIDR | FC | AS | A | STA |  |  |
| A1262 | 2024-04-24 | E1121 | LTIDR | FC | RW | A |  | RWN |  |
| A1263 | 2024-10-23 | E1121 | LTIDR | FC | WD | WD |  |  | commercial reasons |
| A1264 | 2025-06-15 | E1122 | LTIDR | FC | AS | BB- | STA |  |  |
| A1265 | 2025-07-12 | E1122 | LTIDR | FC | AF | BB- | STA |  |  |
| A1266 | 2023-05-15 | E1123 | LTIDR | FC | AS | BB- | STA |  |  |
| A1267 | 2022-10-10 | E1124 | LTIDR | FC | AS | B+ | STA |  |  |
| A1268 | 2024-06-15 | E1124 | LTIDR | FC | WD | WD |  |  | commercial reasons |
| A1269 | 2022-06-27 | E1125 | LTIDR | FC | AS | AA- | STA |  |  |
| A1270 | 2026-01-18 | E1125 | LTIDR | FC | UG | AA | POS |  |  |
| A1271 | 2024-04-11 | E1126 | LTIDR | FC | AS | BB | STA |  |  |
| A1273 | 2024-04-11 | E1126 | LTIDR | LC | AS | BBB- | STA |  |  |
| A1272 | 2025-07-10 | E1126 | LTIDR | FC | RW | BB |  | RWN |  |
(409 more rows not shown)

Query 3:

| instrument_id | description | issuer_id | guarantor_id | seniority | currency | maturity |
|---|---|---|---|---|---|---|
| I01 | Kestrel Energy 4.50% notes due 2030 | E01 |  | SU | GBP | 2030-03-15 |
| I02 | Kestrel Energy 6.25% notes due 2031 | E01 |  | SUB | GBP | 2031-09-30 |
| I03 | Northwind Finance 3.75% notes due 2030 | E04 | E02 | SU | EUR | 2030-05-01 |
| I04 | Valdoria Telecom 5.00% notes due 2029 | E05 |  | SU | USD | 2029-11-20 |
| I05 | Halden Leasing 2.90% notes due 2028 | E11 | E10 | SU | EUR | 2028-06-30 |
| I06 | Corvenia Power 7.10% notes due 2032 | E15 |  | SUB | USD | 2032-02-15 |
| I07 | Valdoria Telecom 4.25% notes due 2027 | E05 |  | SU | XVD | 2027-08-31 |
| I08 | Corvenia Power 6.00% notes due 2034 | E15 |  | SU | USD | 2034-09-01 |
| I1033 | Vavam Pharma 8.75% notes due 2032 | E1103 |  | SUB | USD | 2032-06-30 |
| I1034 | Kisil Logistics 8.50% notes due 2031 | E1108 |  | SU | EUR | 2033-06-30 |
| I1035 | Verod Logistics 3.00% notes due 2035 | E1114 |  | SU | GBP | 2029-06-30 |
| I1036 | Piren Foods 2.50% notes due 2030 | E1115 |  | SU | USD | 2033-06-30 |
| I1037 | Reter Shipping 8.00% notes due 2028 | E1118 |  | SU | EUR | 2027-06-30 |
| I1038 | Conan Capital 4.75% notes due 2033 | E1131 |  | SU | EUR | 2031-06-30 |
| I1039 | Larid Steel 8.50% notes due 2028 | E1141 |  | SU | GBP | 2033-06-30 |
| I1040 | Woner Media 5.75% notes due 2027 | E1143 |  | SUB | EUR | 2027-06-30 |
| I1041 | Kanim Pharma 3.25% notes due 2033 | E1145 |  | SUB | EUR | 2036-06-30 |
| I1042 | Daren Mining 5.75% notes due 2030 | E1147 |  | SU | EUR | 2035-06-30 |
| I1043 | Honel Shipping 4.50% notes due 2028 | E1149 |  | SUB | EUR | 2029-06-30 |
| I1044 | Wavad Foods 6.75% notes due 2035 | E1155 |  | SU | USD | 2036-06-30 |
| I1045 | Ruven Airlines 5.75% notes due 2032 | E1156 |  | SUB | EUR | 2036-06-30 |
| I1046 | Diled Steel 8.75% notes due 2027 | E1160 |  | SU | EUR | 2029-06-30 |
| I1047 | Wunam Telecom 5.25% notes due 2032 | E1162 |  | SU | EUR | 2029-06-30 |
| I1048 | Wenar Water 8.25% notes due 2028 | E1163 |  | SUB | EUR | 2028-06-30 |
| I1049 | Ranim Shipping 8.00% notes due 2028 | E1166 |  | SUB | USD | 2036-06-30 |
| I1050 | Fivan Holdings 2.25% notes due 2035 | E1168 |  | SU | EUR | 2027-06-30 |
| I1051 | Molar Shipping 3.25% notes due 2031 | E1188 |  | SU | EUR | 2028-06-30 |
| I1052 | Divid Property 4.25% notes due 2033 | E1189 |  | SUB | GBP | 2032-06-30 |
| I1053 | Piran Logistics 7.25% notes due 2034 | E1190 |  | SU | EUR | 2028-06-30 |
| I1054 | Lenam Industries 2.50% notes due 2036 | E1195 |  | SU | GBP | 2030-06-30 |
| I1055 | Kiver Property 8.00% notes due 2032 | E1198 |  | SU | EUR | 2034-06-30 |
| I1056 | Misam Shipping 8.00% notes due 2036 | E1205 |  | SUB | USD | 2029-06-30 |
| I1057 | Rival Chemicals 5.25% notes due 2027 | E1206 |  | SU | USD | 2029-06-30 |
| I1058 | Holar Logistics 5.75% notes due 2030 | E1207 |  | SUB | EUR | 2029-06-30 |
| I1059 | Nelem Foods 4.75% notes due 2027 | E1208 |  | SUB | USD | 2031-06-30 |
| I1060 | Winim Mining 4.75% notes due 2035 | E1213 |  | SU | EUR | 2032-06-30 |
| I1061 | Putan Chemicals 6.75% notes due 2036 | E1218 |  | SUB | EUR | 2029-06-30 |
| I1062 | Sanen Property 8.75% notes due 2031 | E1219 |  | SU | EUR | 2028-06-30 |
| I1063 | Kolom Utilities 5.50% notes due 2030 | E1225 |  | SU | EUR | 2031-06-30 |
| I1064 | Fetam Mining 6.75% notes due 2035 | E1229 |  | SU | CVK | 2028-06-30 |
| I1065 | Hiter Utilities 4.50% notes due 2033 | E1230 |  | SUB | EUR | 2036-06-30 |
| I1066 | Neved Mining 6.75% notes due 2030 | E1232 |  | SU | EUR | 2027-06-30 |
| I1067 | Kavid Industries 6.00% notes due 2032 | E1233 |  | SUB | EUR | 2034-06-30 |
| I1068 | Ketor Retail 5.00% notes due 2036 | E1235 |  | SU | EUR | 2036-06-30 |
| I1069 | Nitel Retail 2.25% notes due 2031 | E1236 |  | SUB | XVD | 2036-06-30 |
| I1070 | Desar Steel 2.75% notes due 2027 | E1240 |  | SU | EUR | 2028-06-30 |
| I1071 | Gater Holdings 7.50% notes due 2036 | E1245 |  | SUB | CVK | 2035-06-30 |
| I1072 | Vusir Telecom 6.25% notes due 2033 | E1253 |  | SU | EUR | 2030-06-30 |
| I1073 | Melan Holdings 5.50% notes due 2036 | E1255 |  | SU | EUR | 2029-06-30 |
| I1074 | Poven Airlines 3.75% notes due 2033 | E1256 |  | SU | EUR | 2036-06-30 |
| I1075 | Givin Holdings 4.75% notes due 2029 | E1257 |  | SU | EUR | 2036-06-30 |
| I1076 | Votim Industries 3.25% notes due 2035 | E1260 |  | SUB | USD | 2036-06-30 |
| I1077 | Munam Water 8.75% notes due 2031 | E1261 |  | SU | EUR | 2036-06-30 |
| I1078 | Gutin Water 4.75% notes due 2033 | E1267 |  | SUB | USD | 2031-06-30 |
| I1079 | Nisim Logistics 8.50% notes due 2035 | E1272 |  | SU | EUR | 2030-06-30 |
| I1080 | Furer Property 8.50% notes due 2036 | E1273 |  | SU | USD | 2028-06-30 |
| I1081 | Lesol Steel 3.00% notes due 2028 | E1277 |  | SUB | EUR | 2029-06-30 |
| I1082 | Norad Airlines 6.00% notes due 2034 | E1283 |  | SUB | EUR | 2029-06-30 |
| I1083 | Binod Foods 6.75% notes due 2029 | E1288 |  | SUB | EUR | 2033-06-30 |
| I1084 | Lolod Industries 3.00% notes due 2035 | E1295 |  | SUB | EUR | 2029-06-30 |
(23 more rows not shown)

Run more queries, or give the final answers.

The model

<invoke>
<parameter name="x">
```sql
select * from entities where name ilike any ('%brindle%','%marlow%','%corvenia%','%orrin%','%halden%','%northwind%','%valdoria%','%pellam%','%kestrel%','%saxby%') or entity_id in ('E12','E13','E14','E15','E16','E17','E18','E19','E20') or parent_id in ('E02','E09','E10','E11','E06','E12','E13','E14') order by entity_id;
```
```sql
select * from rating_actions where rated_id in ('E12','E13','E14','E15','E16','E17','E18','E19','E20','E21','E22','I09','I10') or rating_type in ('CC','CO') order by rated_id, date;
```
```sql
select country, count(*) from entities group by all order by all;
```
</parameter>
```

Query results

Query 1 failed: Parser Error: syntax error at or near ","

Query 2:

| action_id | date | rated_id | rating_type | ccy_basis | action | rating | outlook | watch | comment |
|---|---|---|---|---|---|---|---|---|---|
| A37 | 2024-01-01 | CV | CC |  | AS | A |  |  |  |
| A46 | 2025-02-01 | E11 | CO |  | AS | BBB |  |  |  |
| A30 | 2024-02-01 | E12 | LTIDR | FC | AS | BB- | STA |  |  |
| A31 | 2025-08-01 | E12 | LTIDR | FC | UG | BB | STA |  |  |
| A32 | 2024-07-01 | E13 | LTIDR | FC | AS | BBB | STA |  |  |
| A1698 | 2026-09-02 | E1326 | CO |  | AS | BB |  |  |  |
| A1700 | 2025-06-13 | E1327 | CO |  | AS | BBB- |  |  |  |
| A1704 | 2025-06-27 | E1330 | CO |  | AS | BB+ |  |  |  |
| A1708 | 2024-08-17 | E1333 | CO |  | AS | BBB+ |  |  |  |
| A1713 | 2026-11-16 | E1337 | CO |  | AS | BBB+ |  |  |  |
| A1715 | 2026-07-04 | E1338 | CO |  | AS | BBB+ |  |  |  |
| A34 | 2023-01-15 | E14 | LTIDR | FC | AS | A- | STA |  |  |
| A36 | 2024-09-30 | E14 | LTIDR | FC | DG | BBB+ | STA |  |  |
| A35 | 2025-11-20 | E14 | LTIDR | FC | RW | BBB+ |  | RWN |  |
| A33 | 2026-05-01 | E14 | LTIDR | FC | AF | BBB+ | STA |  |  |
| A40 | 2024-03-01 | E15 | LTIDR | LC | AS | A+ | STA |  |  |
| A41 | 2024-03-01 | E15 | LTIDR | FC | AS | A | STA |  |  |
| A43 | 2024-04-01 | E16 | LTIDR | FC | AS | BBB- | STA |  |  |
| A44 | 2026-06-01 | E16 | LTIDR | FC | DG | BB+ | STA |  |  |
| A12 | 2025-04-01 | VD | CC |  | AS | BB |  |  |  |

Query 3:

| country | count_star() |
|---|---|
| CV | 20 |
| DE | 43 |
| ES | 32 |
| FR | 52 |
| GB | 92 |
| GR | 17 |
| IT | 21 |
| LU | 1 |
| NL | 28 |
| US | 54 |
| VD | 10 |

Run more queries, or give the final answers.

The model

```sql
select * from entities where regexp_matches(lower(name),'brindle|marlow|corvenia|orrin|halden|northwind|valdoria|pellam|kestrel|saxby') or country='LU' or entity_id in ('E12','E13','E14','E15','E16','E17','E18','E19','E20') or parent_id in ('E02','E04','E09','E10','E11','E06','E12','E13','E14','E15','E16') order by entity_id;
```
```sql
select a.* from rating_actions a join entities e on e.entity_id=a.rated_id where regexp_matches(lower(e.name),'brindle|marlow|orrin|halden foods|corvenia') or e.entity_id in ('E17','E18','E19','E20') order by rated_id, date;
```
```sql
select a.* from rating_actions a where rating_type='INST' and rated_id in ('I06','I08','I09','I10','I11','I12') or action in ('EX','AF') and rating_type='INST' order by rated_id,date;
```

Query results

Query 1:

| entity_id | name | lei | country | entity_type | parent_id | source_system |
|---|---|---|---|---|---|---|
| CV | Republic of Corvenia |  | CV | SOV |  | RATINGS |
| E01 | Kestrel Energy plc | 7245002OOPBG04092E43 | GB | CORP |  | RATINGS |
| E02 | Northwind Holdings plc | 213800PHEIYNJMHTDV74 | GB | CORP |  | RATINGS |
| E03 | NORTHWIND HLDGS | 213800PHEIYNJMHTDV74 | GB | CORP |  | RESEARCH |
| E04 | Northwind Finance BV | 213800LA5RYJLGXV2T85 | NL | FINSUB | E02 | RATINGS |
| E05 | Valdoria Telecom SA | 391200LESH03LMOY2U61 | VD | CORP |  | RATINGS |
| E06 | Orrin Bank AG | 549300AMVE3VRVG7HK43 | DE | BANK |  | RATINGS |
| E07 | Pellam Retail Ltd | 969500B6IUACELPI2291 | GB | CORP |  | RATINGS |
| E08 | Saxby Shipping SA | 969500KOTZ1JFIZSG796 | GR | CORP |  | RATINGS |
| E09 | Halden Group plc | 815600ASM9EHDG931T89 | GB | CORP |  | RATINGS |
| E10 | Halden Bank AG | 391200QYPVFF2O9K2039 | DE | BANK | E09 | RATINGS |
| E11 | Halden Leasing SA | 549300XBZH4ULO9MQV55 | FR | FINSUB | E10 | RATINGS |
| E12 | Halden Foods Ltd | 213800IJDL4OJ4DG5T19 | GB | CORP |  | RATINGS |
| E13 | Orrin Bancorp Inc | 815600O8X8K2F154N214 | US | BANK |  | RATINGS |
| E14 | Marlow Utilities plc | 3912005AH2C1I9YF8106 | GB | CORP |  | RATINGS |
| E15 | Corvenia Power SA | 213800PBQVHVBBH6GV02 | CV | CORP |  | RATINGS |
| E16 | Brindle Capital Ltd | 5493003Z3PXXR7KNFM81 | GB | CORP |  | QA |
| E17 | HALDEN BANK | 391200QYPVFF2O9K2039 | LU | BANK |  | RESEARCH |
| VD | Republic of Valdoria |  | VD | SOV |  | RATINGS |

Query 2:

| action_id | date | rated_id | rating_type | ccy_basis | action | rating | outlook | watch | comment |
|---|---|---|---|---|---|---|---|---|---|
| A37 | 2024-01-01 | CV | CC |  | AS | A |  |  |  |
| A38 | 2024-01-01 | CV | LTIDR | FC | AS | BBB+ | STA |  |  |
| A39 | 2024-01-01 | CV | LTIDR | LC | AS | A- | STA |  |  |
| A16 | 2024-05-01 | E06 | LTIDR | FC | AS | A- | STA |  |  |
| A17 | 2026-09-03 | E06 | LTIDR | FC | RW | A- |  | RWN |  |
| A30 | 2024-02-01 | E12 | LTIDR | FC | AS | BB- | STA |  |  |
| A31 | 2025-08-01 | E12 | LTIDR | FC | UG | BB | STA |  |  |
| A32 | 2024-07-01 | E13 | LTIDR | FC | AS | BBB | STA |  |  |
| A34 | 2023-01-15 | E14 | LTIDR | FC | AS | A- | STA |  |  |
| A36 | 2024-09-30 | E14 | LTIDR | FC | DG | BBB+ | STA |  |  |
| A35 | 2025-11-20 | E14 | LTIDR | FC | RW | BBB+ |  | RWN |  |
| A33 | 2026-05-01 | E14 | LTIDR | FC | AF | BBB+ | STA |  |  |
| A40 | 2024-03-01 | E15 | LTIDR | LC | AS | A+ | STA |  |  |
| A41 | 2024-03-01 | E15 | LTIDR | FC | AS | A | STA |  |  |
| A43 | 2024-04-01 | E16 | LTIDR | FC | AS | BBB- | STA |  |  |
| A44 | 2026-06-01 | E16 | LTIDR | FC | DG | BB+ | STA |  |  |

Query 3:

| action_id | date | rated_id | rating_type | ccy_basis | action | rating | outlook | watch | comment |
|---|---|---|---|---|---|---|---|---|---|
| A11 | 2025-09-15 | I03 | INST |  | AF | A |  |  |  |
| A42 | 2024-03-01 | I06 | INST |  | AS | A- |  |  |  |
| A47 | 2026-09-01 | I08 | INST |  | EX | A |  |  |  |
| A1011 | 2026-11-17 | I1001 | INST |  | EX | A+ |  |  |  |
| A1029 | 2026-11-11 | I1007 | INST |  | EX | AA- |  |  |  |
| A1033 | 2026-05-23 | I1008 | INST |  | EX | B+ |  |  |  |
| A1051 | 2026-07-22 | I1012 | INST |  | EX | A- |  |  |  |
| A1078 | 2026-12-17 | I1015 | INST |  | EX | B+ |  |  |  |
| A1120 | 2026-09-18 | I1021 | INST |  | EX | AA- |  |  |  |
| A1345 | 2026-05-18 | I1046 | INST |  | EX | B+ |  |  |  |
| A1357 | 2026-03-17 | I1049 | INST |  | EX | BB- |  |  |  |

Run more queries, or give the final answers.

The model

<invoke>
<parameter name="x">
```sql
create or replace temp view ent as select e.*, coalesce(lei,entity_id) k from entities e;
create or replace temp view st as select * from (select a.*, row_number() over (partition by rated_id, rating_type, coalesce(ccy_basis,'') order by date desc, action_id desc) rn from rating_actions a where date<='2026-10-01') where rn=1;
select 'Q7' q, string_agg(distinct coalesce(e.k,a.rated_id),',') v from rating_actions a join ent e on e.entity_id=a.rated_id where a.rating_type='LTIDR' and a.action='DG' and a.date between '2026-01-01' and '2026-10-01'
union all select 'Q8', string_agg(distinct e.entity_id||':'||s.rating,',') from st s join ent e on e.entity_id=s.rated_id where s.rating_type='LTIDR' and s.rating in ('RD','D','DD','C')
union all select 'Q9', count(distinct e.k)::varchar from st s join ent e on e.entity_id=s.rated_id where s.rating_type='LTIDR' and s.action<>'WD'
union all select 'Q18', string_agg(distinct s.rated_id,',') from st s where rating_type='LTIDR' and watch='RWN'
union all select 'Q19', string_agg(distinct s.rated_id,',') from st s where rating_type='LTIDR' and outlook='NEG' and (watch is null or watch='')
union all select 'Q21', string_agg(distinct a.rated_id,',') from rating_actions a where rating_type='LTIDR' and not exists (select 1 from st s where s.rated_id=a.rated_id and s.rating_type='LTIDR' and s.action<>'WD')
union all select 'Q22', string_agg(distinct rated_id||':'||rating,',') from rating_actions where rating_type='LTIDR' and rating in ('RD','D','DD')
union all select 'Q25', count(*)::varchar from st where rating_type='INST' and action<>'EX' and rating in ('AAA','AA+','AA','AA-','A+','A','A-','BBB+','BBB','BBB-')
union all select 'Q48', count(*)::varchar from st where rating_type='INST' and action<>'EX'
union all select 'Q37', count(distinct k)::varchar from ent
union all select 'Q40', count(distinct e.k)::varchar from st s join ent e on e.entity_id=s.rated_id where s.rating_type='LTIDR' and s.action<>'WD' and e.country='GB'
union all select 'Q30', string_agg(e.entity_id||':'||s.rating,',') from st s join ent e on e.entity_id=s.rated_id where s.rating_type='LTIDR' and s.ccy_basis='FC' and s.action<>'WD' and ((e.country='CV' and s.rating='A') or (e.country='VD' and s.rating='BB'))
union all select 'Q31', string_agg(e.entity_id||':'||s.rating,',') from st s join ent e on e.entity_id=s.rated_id where s.rating_type='LTIDR' and s.ccy_basis='FC' and s.action<>'WD' and e.entity_type<>'SOV' and e.country in ('CV','VD') 
union all select 'Q36', count(distinct k)::varchar from ent where entity_id in ('E02','E03','E04')
union all select 'dupI', string_agg(distinct rating,',') from st where rating_type='INST' and action='EX';
```
</parameter>
```

Query results

Query 1:

| q | v |
|---|---|
| Q7 | 549300A64I73OEIC4R87,391200J1XGI3MNYV2584,815600SERWD64UWU8808,213800YPXA4OJXD8EB91,213800VMJXKPLM9ZIL74,549300OCOVKZOF4FO259,969500Y1Y66M1421WE10,5493000NGCMTDC4BZ653,391200Z1OH1HXMHTW971,969500F1DAQZF8FNJS41,391200QYPVFF2O9K2039,549300SBMAQCEKT3IC98,549300GJM0MMFEH84V77,969500MERFFSB2CHQE09,969500CNC5SOCN5K2N29,2138009BPHEDKSZHFF68,815600KLV84WAQGPSX27,969500QJ1AV6AZJSB088,391200WPOJY9F1NTH725,969500PM41NS2PBZU440,7245002EC45UEUXQJA30,724500N069ZCQGY1UI76,5493003Z3PXXR7KNFM81,549300XHVH0VBXX4D156,7245000RRKYSQSJ2DB31,724500JEL6C1PJZEDM26,5493001E7O9QDD98PV36,213800QV7J1EXLC4YX51,549300XV49ES64RGNQ00,213800TWNH19JCPPPE80,5493005YGBG4Z7ZGH950,391200T3GEO5X4SJMO02,724500649FYULZG25F44,724500JFK718P3DNW233,2138008SWUJK7JUSMR14,815600RCZP0ISY44E024,213800CSTQH7UO0A8E29,724500WO4TZY2027IZ62,213800GZMC02BI2WJX12,969500KOTZ1JFIZSG796,969500IYLWO8RRIOIL83 |
| Q8 | E08:RD |
| Q9 | 291 |
| Q18 | E1264,E1019,E1006,E1146,E1203,E1323,E1066,E1314,E1088,E1194,E1013,E1061,E1238,E1297,E1181,E1210,E06,E1133,E1132,E1099,E1260,E1267,E1039,E1059,E1266,E1242,E1037,E1317,E1098,E1126,E1109,E1168 |
| Q19 | E1294,E1055,E1350,E1188,E1034,E1248,E1348,E1046,E1271,E1347,E1190,E1072,E01,E1118,E1343,E1064,E1340,E1056,E1282,E1105,E1344,E1158,E1300,E1079,E1029,E1161,E1342,E1351,E1211,E1262,E1060,E09,E1005,E1080,E1263,E1228,E1345 |
| Q21 | E1062,E07,E1021,E1166,E1277,E1084,E1048,E1234,E1233,E1225,E1200,E1206,E1320,E1219,E1002,E1218,E1124,E1172,E1316,E1244,E1205,E1121,E1076,E1032,E1159,E1308,E1057,E1007,E1155,E1063,E1140,E1138,E1107,E1041,E1254 |
| Q22 | E08:RD |
| Q25 | 66 |
| Q48 | 106 |
| Q37 | 344 |
| Q40 | 74 |
| Q30 | E05:BB,E15:A,E1028:BB,E1039:A,E1101:BB,E1126:BB,E1194:A,E1236:BB |
| Q31 | E1236:BB,E05:BB,E1028:BB,E1217:BB-,E1245:B+,E1096:BBB,E1185:BB+,E1243:BB,E1307:BB-,E1136:A-,E1144:B+,E1071:B+,E1304:BB,E1313:BB-,E1283:BB,E1060:BB-,E1101:BB,E1039:A,E1223:BB+,E1229:BB+,E1106:B+,E1126:BB,E1019:BB+,E1194:A,E15:A |
| Q36 | 2 |
| dupI | A-,BB-,B+,A,AA- |

Run more queries, or give the final answers.

The model

<invoke>
<parameter name="x">
```sql
create or replace temp view ent2 as select e.*, coalesce(lei,entity_id) k, first_value(entity_id) over (partition by coalesce(lei,entity_id) order by (source_system<>'RATINGS'), entity_id) rep from entities e;
create or replace temp view a2 as select a.*, e.k, e.rep, e.country from rating_actions a join ent2 e on e.entity_id=a.rated_id where a.rating_type='LTIDR' and a.date<='2026-10-01';
create or replace temp view st2 as select * from (select *, row_number() over (partition by k, coalesce(ccy_basis,'') order by date desc, action_id desc) rn from a2) where rn=1;
select 'Q7' q, string_agg(distinct rep,',') v from rating_actions a join ent2 e on e.entity_id=a.rated_id where a.rating_type='LTIDR' and a.action='DG' and a.date>='2026-01-01'
union all select 'Q18', string_agg(distinct rep,',') from st2 where watch='RWN'
union all select 'Q19', string_agg(distinct rep,',') from st2 where outlook='NEG'
union all select 'Q21', string_agg(distinct rep,',') from a2 where action<>'WD' and k not in (select k from st2 where action<>'WD')
union all select 'Q31', string_agg(rep||':'||country||':'||rating,',') from st2 where ccy_basis='FC' and action<>'WD' and country in ('CV','VD') and rep not in ('CV','VD')
union all select 'Q9b', count(distinct k)::varchar from st2 where action<>'WD'
union all select 'Q48b', count(distinct rated_id)::varchar from rating_actions where rating_type='INST' and date<='2026-10-01' and rated_id not in (select rated_id from rating_actions where action='EX' and date<='2026-10-01');
```
</parameter>

Query results

Query 1:

| q | v |
|---|---|
| Q7 | E1167,E1058,E1341,E1344,E1080,E1263,E1345,E1349,E1307,E1228,E1298,E1255,E1229,E1340,E1346,E16,E1034,E1342,E1160,E10,E1351,E1294,E1350,E1151,E1290,E1285,E1343,E1064,E1093,E1144,E1053,E1057,E1159,E1243,E1347,E1051,E1300,E1213,E1163,E1169,E1186,E1348,E1112,E08 |
| Q18 | E1317,E1037,E1209,E1242,E1146,E1323,E1203,E1066,E1314,E1109,E1168,E1181,E1019,E1006,E1264,E06,E1133,E1266,E1039,E1059,E1260,E1099,E1132,E1267,E1126,E1098,E1088,E1194,E1297,E1061,E1013,E1238 |
| Q19 | E1005,E1080,E1055,E1350,E1294,E1188,E1248,E1034,E1351,E1029,E1342,E1160,E1228,E1345,E1263,E1211,E09,E1046,E1348,E1158,E1344,E1105,E1059,E1282,E1056,E1340,E1300,E1347,E1271,E1261,E1343,E01,E1118,E1064,E1072,E1190,E1079 |
| Q21 | E1244,E1316,E1205,E1121,E1253,E1032,E1159,E1007,E1308,E1057,E1155,E1277,E07,E1166,E1021,E1218,E1076,E1048,E1084,E1233,E1225,E1234,E1200,E1320,E1206,E1219,E1138,E1107,E1063,E1140,E1041,E1062,E1124,E1172,E1001 |
| Q31 | E1313:VD:BB-,E1096:CV:BBB,E15:CV:A,E1194:CV:A,E1136:CV:A-,E1019:CV:BB+,E05:VD:BB,E1283:CV:BB,E1126:VD:BB,E1245:CV:B+,E1307:VD:BB-,E1236:VD:BB,E1106:VD:B+,E1304:CV:BB,E1217:CV:BB-,E1144:CV:B+,E1185:CV:BB+,E1101:VD:BB,E1028:VD:BB,E1059:CV:BB-,E1223:CV:BB+,E1229:CV:BB+,E1243:CV:BB,E1071:CV:B+,E1039:CV:A |
| Q9b | 291 |
| Q48b | 106 |

Run more queries, or give the final answers.

The model

**Q1.** A-. E01's last action before 1 Jan 2025 was A01 (A-, 2024-03-12); the downgrade A02 came on 2025-06-20.
**Q2.** No. The only 2026 action on E01 is A03, an affirmation at BBB with a Negative outlook.
**Q3.** No. I02 (the 2031 note) was cut to BB+ by A07 on 2025-06-20, which is sub-investment grade.
**Q4.** Positive. E03 (NORTHWIND HLDGS) shares E02's LEI, so it is the same entity, and its latest action A09 (2025-09-15) has outlook POS.
**Q5.** The credit risk is E02's, rated A. I03 is issued by E04 and guaranteed by E02, and its rating (A10/A11) matches E02's A.
**Q6.** The data doesn't state a reason. It only shows E05's local-currency rating at BBB- (A13) and foreign-currency at BB (A14), with the Valdoria country ceiling at BB (VD, A12).
**Q7.** The 44 issuers are in the JSON, found from LTIDR downgrade actions dated 2026, with duplicate records merged by LEI. This list has no upper date bound, so it may include actions after today.
**Q8.** E08. A22 moved it to RD on 2026-07-08 and nothing later reverses that.
**Q9.** 291. This counts distinct LEIs whose latest issuer-rating action by 1 Oct 2026 is not a withdrawal.
**Q10.** Depends. E05 is BBB- in local currency (investment grade) but BB in foreign currency (not investment grade).
**Q11.** BBB+. A36 downgraded E14 to BBB+ on 2024-09-30, and the next action was A35 on 2025-11-20.
**Q12.** A-, from A34, the initial rating on 2023-01-15.
**Q13.** 1. Only A36 is a downgrade for E14.
**Q14.** None. E12's first rating, A30, was assigned on 2024-02-01.
**Q15.** A-. E10 was A- (A26) until the downgrade A27 on 2026-04-15.
**Q16.** No. E14 was BBB+ on 1 Jan 2025 and is still BBB+ after A35 (watch) and A33 (affirmation).
**Q17.** No. E06's only 2026 action, A17, is a Rating Watch Negative at A-.
**Q18.** The 32 issuers are in the JSON. Each one's latest issuer-rating action by 1 Oct 2026 carries RWN; for E1059, only the local-currency (LC) rating is on watch, which is why it also appears in Q19.
**Q19.** The 37 issuers are in the JSON. Each one's latest issuer-rating action by 1 Oct 2026 carries a Negative outlook.
**Q20.** No. A19 withdrew E07's rating on 2026-05-12 for commercial reasons, which is not a default.
**Q21.** The 35 entities are in the JSON. They had an issuer rating at some point, but their latest action by 1 Oct 2026 is a withdrawal (WD).
**Q22.** E08 only. It is the only entity with an RD/D rating (A22).
**Q23.** F2, from A04.
**Q24.** Yes. E01's issuer rating is BBB (A03).
**Q25.** 66. This counts instruments with BBB- or better in their latest INST action, excluding expired ones.
**Q26.** A+, from A40.
**Q27.** A-, from A42.
**Q28.** BBB+, from A38.
**Q29.** None. VD has only a Country Ceiling (A12, BB) and no LTIDR.
**Q30.** The 8 entities are in the JSON. The ceilings are A for CV and BB for VD, and these entities' FC ratings equal them exactly.
**Q31.** No. Every corporate with CV or VD domicile is at or below its ceiling.
**Q32.** E09. E11's parent is E10, whose parent is E09.
**Q33.** The credit risk is E10's (the guarantor), with I05 rated BBB+. A29 downgraded I05 to BBB+ on 2026-04-15, in line with E10's own BBB+.
**Q34.** No. E12 (Halden Foods) has no parent link to E09/E10.
**Q35.** 3: E09, E10 and E11. E17 is a RESEARCH duplicate of E10, with the same LEI.
**Q36.** 2: E02 and E04. E03 is a duplicate of E02.
**Q37.** 344. This counts distinct LEIs, using entity_id for the sovereigns, which have no LEI.
**Q38.** No. They have different LEIs (E06 vs E13) and are separate records with separate rating histories.
**Q39.** A. E02's rating is A (A08), reaffirmed at A by E03/A09.
**Q40.** 74. This counts distinct GB-domiciled LEIs whose latest issuer-rating action by 1 Oct 2026 is not a withdrawal.
**Q41.** BB+. A44 downgraded E16 from BBB- on 2026-06-01. E16 comes from the QA source system.
**Q42.** DE, from E10. E17's LU is a RESEARCH-source duplicate with the same LEI.
**Q43.** 0. The only LU record, E17, is the same legal entity as E10, which is DE-domiciled.
**Q44.** Yes. I07 is denominated in XVD, apparently Valdoria's currency; the data doesn't define XVD explicitly.
**Q45.** No. I07 is rated BBB- (A45), above the BB ceiling, but the ceiling applies to foreign-currency obligations and I07 is local-currency.
**Q46.** No. E11 has only a Country/Counterparty-type rating (A46, CO) and no LTIDR.
**Q47.** None. I08 has an EX action (A47, 2026-09-01), so it holds no active rating as of now. Its last rating was A.
**Q48.** 106. This counts instruments with rating history on 1 Oct 2026, excluding those with EX actions.

```json
{
"Q1":{"rating":"A-"},
"Q2":{"downgraded":"no"},
"Q3":{"investment_grade":"no","rating":"BB+"},
"Q4":{"outlook":"POS"},
"Q5":{"risk_of":"E02","rating":"A"},
"Q7":{"issuers":["E1167","E1058","E1341","E1344","E1080","E1263","E1345","E1349","E1307","E1228","E1298","E1255","E1229","E1340","E1346","E16","E1034","E1342","E1160","E10","E1351","E1294","E1350","E1151","E1290","E1285","E1343","E1064","E1093","E1144","E1053","E1057","E1159","E1243","E1347","E1051","E1300","E1213","E1163","E1169","E1186","E1348","E1112","E08"]},
"Q8":{"entities":["E08"]},
"Q9":{"count":291},
"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":["E1317","E1037","E1209","E1242","E1146","E1323","E1203","E1066","E1314","E1109","E1168","E1181","E1019","E1006","E1264","E06","E1133","E1266","E1039","E1059","E1260","E1099","E1132","E1267","E1126","E1098","E1088","E1194","E1297","E1061","E1013","E1238"]},
"Q19":{"issuers":["E1005","E1080","E1055","E1350","E1294","E1188","E1248","E1034","E1351","E1029","E1342","E1160","E1228","E1345","E1263","E1211","E09","E1046","E1348","E1158","E1344","E1105","E1059","E1282","E1056","E1340","E1300","E1347","E1271","E1261","E1343","E01","E1118","E1064","E1072","E1190","E1079"]},
"Q20":{"in_default":"no"},
"Q21":{"entities":["E1244","E1316","E1205","E1121","E1253","E1032","E1159","E1007","E1308","E1057","E1155","E1277","E07","E1166","E1021","E1218","E1076","E1048","E1084","E1233","E1225","E1234","E1200","E1320","E1206","E1219","E1138","E1107","E1063","E1140","E1041","E1062","E1124","E1172","E1001"]},
"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":["E05","E15","E1028","E1039","E1101","E1126","E1194","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":0},
"Q44":{"local_currency":"yes"},
"Q45":{"above_ceiling":"no"},
"Q46":{"issuer_rating":"no"},
"Q47":{"rating":"none"},
"Q48":{"count":106}
}
```