D1 sql, run 2: the query session
18 queries0 failed5 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
I'll start by exploring the data structure.
```sql
SELECT * FROM entities LIMIT 40;
```
```sql
SELECT rating_type, ccy_basis, action, outlook, watch, count(*) FROM rating_actions GROUP BY ALL ORDER BY ALL;
```
```sql
SELECT entity_type, source_system, count(*) FROM entities GROUP BY ALL;
```
```sql
SELECT * FROM instruments LIMIT 30;
```Query results
Query 1:
| entity_id | name | lei | country | entity_type | parent_id | source_system |
|---|---|---|---|---|---|---|
| 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 |
| VD | Republic of Valdoria | | VD | SOV | | 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 |
| CV | Republic of Corvenia | | CV | SOV | | RATINGS |
| E15 | Corvenia Power SA | 213800PBQVHVBBH6GV02 | CV | CORP | | RATINGS |
| E16 | Brindle Capital Ltd | 5493003Z3PXXR7KNFM81 | GB | CORP | | QA |
| E17 | HALDEN BANK | 391200QYPVFF2O9K2039 | LU | BANK | | RESEARCH |
| 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 |
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:
| entity_type | source_system | count_star() |
|---|---|---|
| CORP | RESEARCH | 21 |
| BANK | RATINGS | 56 |
| CORP | QA | 13 |
| FINSUB | RATINGS | 17 |
| BANK | RESEARCH | 5 |
| CORP | RATINGS | 256 |
| SOV | RATINGS | 2 |
Query 4:
| 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 |
Run more queries, or give the final answers.The model
```sql
SELECT * FROM rating_actions WHERE rated_id IN ('E01','E02','E03','E04','E05','E06','E07','E08','VD','E09','E10','E11','E12','E13','E14','CV','E15','E16','E17') OR rated_id IN ('I01','I02','I03','I04','I05','I06','I07','I08') ORDER BY rated_id, date;
```
```sql
SELECT * FROM rating_actions WHERE rating_type IN ('CC','CO','STIDR') OR comment IS NOT NULL AND comment<>'' ORDER BY date LIMIT 80;
```Query results
Query 1:
| action_id | date | rated_id | rating_type | ccy_basis | action | rating | outlook | watch | comment |
|---|---|---|---|---|---|---|---|---|---|
| A39 | 2024-01-01 | CV | LTIDR | LC | AS | A- | STA | | |
| A38 | 2024-01-01 | CV | LTIDR | FC | AS | BBB+ | STA | | |
| A37 | 2024-01-01 | CV | CC | | AS | A | | | |
| 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 | | |
| 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 | | |
| 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 | | |
| A41 | 2024-03-01 | E15 | LTIDR | FC | AS | A | STA | | |
| A40 | 2024-03-01 | E15 | LTIDR | LC | AS | A+ | STA | | |
| A43 | 2024-04-01 | E16 | LTIDR | FC | AS | BBB- | STA | | |
| A44 | 2026-06-01 | E16 | LTIDR | FC | DG | BB+ | 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 | | | |
| A12 | 2025-04-01 | VD | CC | | AS | BB | | | |
Query 2:
| action_id | date | rated_id | rating_type | ccy_basis | action | rating | outlook | watch | comment |
|---|---|---|---|---|---|---|---|---|---|
| A1095 | 2023-04-15 | E1048 | LTIDR | FC | WD | WD | | | commercial reasons |
| A26 | 2023-05-01 | E10 | LTIDR | FC | AS | A- | STA | | support from parent |
| A1356 | 2023-07-26 | E1166 | LTIDR | FC | WD | WD | | | commercial reasons |
| A1685 | 2023-10-15 | E1320 | LTIDR | FC | WD | WD | | | commercial reasons |
| A1422 | 2023-11-03 | E1200 | LTIDR | FC | WD | WD | | | commercial reasons |
| A37 | 2024-01-01 | CV | CC | | AS | A | | | |
| A1085 | 2024-04-09 | E1041 | LTIDR | FC | WD | WD | | | commercial reasons |
| A1522 | 2024-04-18 | E1244 | LTIDR | FC | WD | WD | | | commercial reasons |
| A1161 | 2024-04-28 | E1076 | LTIDR | FC | WD | WD | | | commercial reasons |
| A1268 | 2024-06-15 | E1124 | LTIDR | FC | WD | WD | | | commercial reasons |
| A1680 | 2024-07-07 | E1316 | LTIDR | FC | WD | WD | | | commercial reasons |
| A1708 | 2024-08-17 | E1333 | CO | | AS | BBB+ | | | |
| A1233 | 2024-10-16 | E1107 | LTIDR | FC | WD | WD | | | commercial reasons |
| A1263 | 2024-10-23 | E1121 | LTIDR | FC | WD | WD | | | commercial reasons |
| A1594 | 2024-11-17 | E1279 | LTIDR | FC | WD | WD | | | commercial reasons |
| A1296 | 2024-12-26 | E1138 | LTIDR | FC | WD | WD | | | commercial reasons |
| A1138 | 2025-01-12 | E1063 | LTIDR | FC | WD | WD | | | commercial reasons |
| A1496 | 2025-01-24 | E1233 | LTIDR | FC | WD | WD | | | commercial reasons |
| A46 | 2025-02-01 | E11 | CO | | AS | BBB | | | |
| A1136 | 2025-03-28 | E1062 | LTIDR | FC | WD | WD | | | commercial reasons |
| A12 | 2025-04-01 | VD | CC | | AS | BB | | | |
| A1473 | 2025-06-12 | E1225 | LTIDR | FC | WD | WD | | | commercial reasons |
| A1700 | 2025-06-13 | E1327 | CO | | AS | BBB- | | | |
| A1664 | 2025-06-19 | E1308 | LTIDR | FC | WD | WD | | | commercial reasons |
| A02 | 2025-06-20 | E01 | LTIDR | FC | DG | BBB | STA | | weaker cash flow after asset sale |
| A1704 | 2025-06-27 | E1330 | CO | | AS | BB+ | | | |
| A1251 | 2025-06-28 | E1115 | LTIDR | FC | WD | WD | | | commercial reasons |
| A1002 | 2025-07-20 | E1002 | LTIDR | FC | WD | WD | | | commercial reasons |
| A1180 | 2025-08-02 | E1084 | LTIDR | FC | WD | WD | | | commercial reasons |
| A1230 | 2025-08-10 | E1106 | LTIDR | LC | WD | WD | | | commercial reasons |
| A1540 | 2025-08-13 | E1254 | LTIDR | FC | WD | WD | | | commercial reasons |
| A1298 | 2025-09-15 | E1140 | LTIDR | FC | WD | WD | | | commercial reasons |
| A1046 | 2025-11-08 | E1021 | LTIDR | FC | WD | WD | | | commercial reasons |
| A1430 | 2025-11-16 | E1205 | LTIDR | FC | WD | WD | | | commercial reasons |
| A1433 | 2025-11-20 | E1206 | LTIDR | FC | WD | WD | | | commercial reasons |
| A1590 | 2025-12-14 | E1277 | LTIDR | FC | WD | WD | | | commercial reasons |
| A04 | 2026-02-10 | E01 | STIDR | FC | AF | F2 | | | |
| A1339 | 2026-02-27 | E1158 | LTIDR | FC | WD | WD | | | commercial reasons |
| A1371 | 2026-03-12 | E1172 | LTIDR | FC | WD | WD | | | commercial reasons |
| A1332 | 2026-03-22 | E1155 | LTIDR | FC | WD | WD | | | commercial reasons |
| A1650 | 2026-03-26 | E1303 | LTIDR | FC | WD | WD | | | commercial reasons |
| A1462 | 2026-04-11 | E1219 | LTIDR | FC | WD | WD | | | commercial reasons |
| A19 | 2026-05-12 | E07 | LTIDR | FC | WD | WD | | | commercial reasons |
| A1459 | 2026-05-22 | E1218 | LTIDR | FC | WD | WD | | | commercial reasons |
| A1013 | 2026-06-27 | E1007 | LTIDR | FC | WD | WD | | | commercial reasons |
| A1715 | 2026-07-04 | E1338 | CO | | AS | BBB+ | | | |
| A22 | 2026-07-08 | E08 | LTIDR | FC | DG | RD | | | distressed debt exchange completed |
| A1698 | 2026-09-02 | E1326 | CO | | AS | BB | | | |
| A1067 | 2026-09-15 | E1032 | LTIDR | FC | WD | WD | | | commercial reasons |
| A1124 | 2026-09-19 | E1057 | LTIDR | FC | WD | WD | | | commercial reasons |
| A1342 | 2026-09-22 | E1159 | LTIDR | FC | WD | WD | | | commercial reasons |
| A1499 | 2026-09-22 | E1234 | LTIDR | FC | WD | WD | | | commercial reasons |
| A1713 | 2026-11-16 | E1337 | CO | | AS | BBB+ | | | |
Run more queries, or give the final answers.The model
<invoke name="sql">
</invoke>
```sql
SELECT table_name FROM information_schema.tables;
```
```sql
SELECT * FROM entities WHERE parent_id<>'' OR lei IN (SELECT lei FROM entities WHERE lei<>'' GROUP BY lei HAVING count(*)>1) ORDER BY lei, entity_id;
```
```sql
SELECT * FROM rating_actions WHERE rating_type IN ('LTIDR','STIDR') AND date>='2026-01-01' AND action IN ('DG','UG','RW') ORDER BY date;
```
```sql
SELECT * FROM rating_actions WHERE rating='RD' OR rating IN ('D','C','DD') OR action='EX' OR rating_type='INST' AND action IN ('DG','AF') ORDER BY date;
```
```sql
SELECT country, count(*) FROM entities GROUP BY ALL ORDER BY 2 DESC;
```Query results
Query 1:
| table_name |
|---|
| entities |
| instruments |
| rating_actions |
Query 2:
| entity_id | name | lei | country | entity_type | parent_id | source_system |
|---|---|---|---|---|---|---|
| E1276 | Nevil Holdings SpA | 2138005AK9MHXT35J172 | IT | CORP | E1074 | RATINGS |
| E1332 | Sanin Mining Finance SA | 21380077GIA72K258C76 | FR | FINSUB | E1068 | RATINGS |
| E1333 | Gilen Capital Finance plc | 213800HVPSP99Z2KCJ88 | NL | FINSUB | E1082 | RATINGS |
| E1177 | Kiver Capital AG | 213800J4ER8QI0XDZ847 | DE | BANK | E1010 | RATINGS |
| E04 | Northwind Finance BV | 213800LA5RYJLGXV2T85 | NL | FINSUB | E02 | RATINGS |
| E1271 | Rarid Logistics AG | 213800M91M3NKSWT8K97 | DE | CORP | E1071 | RATINGS |
| E02 | Northwind Holdings plc | 213800PHEIYNJMHTDV74 | GB | CORP | | RATINGS |
| E03 | NORTHWIND HLDGS | 213800PHEIYNJMHTDV74 | GB | CORP | | RESEARCH |
| E1033 | Kunid Pharma SA | 213800Q84PS4FTJJB947 | ES | CORP | E1004 | RATINGS |
| E1114 | Verod Logistics plc | 213800VNSK3FDUWI9Q67 | GB | CORP | E1063 | RATINGS |
| E1066 | Lolil Industries SA | 213800VQSNQ2434DKS91 | ES | CORP | E1004 | RATINGS |
| E1006 | Soson Airlines Inc | 213800WSVEOAQ5HD4C43 | US | CORP | E1005 | RATINGS |
| E1248 | Hivod Mining Inc | 213800XN4WOS9M0UP985 | US | CORP | E1107 | RATINGS |
| E1233 | Kavid Industries AG | 3912001DEUC7UPZYE471 | DE | CORP | E1198 | RATINGS |
| E1001 | Tunod Steel SA | 3912003R00FP6CNV6210 | FR | CORP | | RATINGS |
| E1002 | TUNOD STEEL SA | 3912003R00FP6CNV6210 | FR | CORP | | RESEARCH |
| E1334 | Votim Industries Finance BV | 3912005LQY8PFMP9D487 | FR | FINSUB | E1260 | RATINGS |
| E1293 | Datod Airlines plc | 391200BREGDXY5M1LW07 | GB | CORP | E1166 | RATINGS |
| E1331 | Tulol Shipping Finance BV | 391200D59Z1B4XWDGA48 | FR | FINSUB | E1025 | RATINGS |
| E1147 | Daren Mining SA | 391200E9TAHDZV7CY568 | FR | CORP | | RATINGS |
| E1148 | DAREN MINING SA | 391200E9TAHDZV7CY568 | FR | CORP | | RESEARCH |
| E1337 | Lanon Telecom Finance plc | 391200EERFGANN46Y270 | GB | FINSUB | E1038 | RATINGS |
| E1315 | Wetid Shipping AG | 391200G0CPKPNGKWC253 | DE | CORP | E1278 | RATINGS |
| E1336 | Navor Holdings Finance SA | 391200G55M6O27UJS152 | GB | FINSUB | E1176 | RATINGS |
| E1116 | Hener Energy plc | 391200JN4T4KY2HCRU75 | GB | CORP | | RATINGS |
| E1117 | HENER ENERGY | 391200JN4T4KY2HCRU75 | GB | CORP | | RESEARCH |
| E1021 | Niner Pharma plc | 391200KLG6G4KVIMIU52 | GB | CORP | | RATINGS |
| E1022 | NINER PHARMA | 391200KLG6G4KVIMIU52 | GB | CORP | | RESEARCH |
| E10 | Halden Bank AG | 391200QYPVFF2O9K2039 | DE | BANK | E09 | RATINGS |
| E17 | HALDEN BANK | 391200QYPVFF2O9K2039 | LU | BANK | | RESEARCH |
| E1327 | Nuner Holdings Finance plc | 391200SWQKZG1IRLG226 | GB | FINSUB | E1119 | RATINGS |
| E1179 | Cotan Foods SA | 391200USHZVHBK9FHP01 | ES | CORP | E1162 | RATINGS |
| E1180 | COTAN FOODS SA | 391200USHZVHBK9FHP01 | IT | CORP | | RESEARCH |
| E1047 | Vaved Pharma plc | 391200WGA8OE30KZUD08 | GB | CORP | E1020 | RATINGS |
| E1238 | Wevin Capital SA | 5493004IM0PRT8BSDK29 | GR | CORP | | RATINGS |
| E1239 | WEVIN CAPITAL SA | 5493004IM0PRT8BSDK29 | GR | CORP | | RESEARCH |
| E1213 | Winim Mining SA | 549300A64I73OEIC4R87 | FR | CORP | | RATINGS |
| E1214 | WINIM MINING SA | 549300A64I73OEIC4R87 | NL | CORP | | RESEARCH |
| E1059 | Kelim Media SA | 549300CRXZL5I1OT6L14 | CV | CORP | E1015 | RATINGS |
| E1060 | KELIM MEDIA SA | 549300CRXZL5I1OT6L14 | CV | CORP | | RESEARCH |
| E1152 | Kivel Property plc | 549300E50JHDJNBUGF22 | GB | CORP | | RATINGS |
| E1153 | KIVEL PROPERTY | 549300E50JHDJNBUGF22 | GB | CORP | | RESEARCH |
| E1261 | Munam Water SA | 549300H1N0EQEAZLE362 | ES | CORP | | RATINGS |
| E1262 | MUNAM WATER SA | 549300H1N0EQEAZLE362 | ES | CORP | | RESEARCH |
| E1209 | Malid Mining SpA | 549300HWTXXHJP2HKU38 | IT | CORP | | RATINGS |
| E1210 | MALID MINING SPA | 549300HWTXXHJP2HKU38 | DE | CORP | | RESEARCH |
| E1096 | Ravon Capital SA | 549300NTCTGRKRYIAN83 | CV | CORP | | RATINGS |
| E1097 | RAVON CAPITAL SA | 549300NTCTGRKRYIAN83 | CV | CORP | | RESEARCH |
| E1292 | Bavon Industries plc | 549300RN36RWXRZPV988 | GB | CORP | E1061 | RATINGS |
| E11 | Halden Leasing SA | 549300XBZH4ULO9MQV55 | FR | FINSUB | E10 | RATINGS |
| E1169 | Seren Telecom plc | 549300XV49ES64RGNQ00 | GB | CORP | | RATINGS |
| E1170 | SEREN TELECOM | 549300XV49ES64RGNQ00 | GB | CORP | | RESEARCH |
| E1095 | Hunel Foods Inc | 549300YCPCEYTT7UCP57 | US | CORP | E1027 | RATINGS |
| E1046 | Ditin Shipping Inc | 549300ZM08IADSAK3L87 | US | BANK | E1026 | RATINGS |
| E1329 | Ganen Shipping Finance plc | 549300ZZB6Z4QUIPZW48 | FR | FINSUB | E1069 | RATINGS |
| E1138 | Konel Energy BV | 724500BSV4X2J7KUR535 | NL | CORP | | RATINGS |
| E1139 | KONEL ENERGY BV | 724500BSV4X2J7KUR535 | NL | CORP | | RESEARCH |
| E1098 | Wirim Water Inc | 724500HD5AQ2MDSXXU69 | US | CORP | E1006 | RATINGS |
| E1228 | Cevad Chemicals plc | 724500JFK718P3DNW233 | GB | CORP | E1023 | RATINGS |
| E1174 | Fivel Retail SpA | 724500P05MC40B0POA10 | IT | BANK | E1073 | RATINGS |
(39 more rows not shown)
Query 3:
| action_id | date | rated_id | rating_type | ccy_basis | action | rating | outlook | watch | comment |
|---|---|---|---|---|---|---|---|---|---|
| A1395 | 2026-01-04 | E1186 | LTIDR | FC | DG | BBB+ | STA | | |
| A1516 | 2026-01-13 | E1243 | LTIDR | FC | DG | BB | STA | | |
| A1270 | 2026-01-18 | E1125 | LTIDR | FC | UG | AA | POS | | |
| A1545 | 2026-01-19 | E1255 | LTIDR | FC | DG | BBB+ | STA | | |
| A21 | 2026-01-20 | E08 | LTIDR | FC | DG | CCC | | | |
| A1326 | 2026-01-26 | E1151 | LTIDR | FC | DG | BBB | POS | | |
| A1023 | 2026-02-06 | E1012 | LTIDR | FC | UG | BB+ | POS | | |
| A1636 | 2026-02-06 | E1299 | LTIDR | FC | DG | BBB | POS | | |
| A1588 | 2026-02-07 | E1276 | LTIDR | FC | RW | AA- | | RWN | |
| A1660 | 2026-02-08 | E1307 | LTIDR | FC | DG | BB- | POS | | |
| A1450 | 2026-02-13 | E1213 | LTIDR | FC | DG | A- | STA | | |
| A1174 | 2026-02-14 | E1080 | LTIDR | FC | DG | A- | NEG | | |
| A1608 | 2026-02-17 | E1285 | LTIDR | FC | DG | A | POS | | |
| A1244 | 2026-02-20 | E1112 | LTIDR | FC | DG | BBB | POS | | |
| A1132 | 2026-02-23 | E1059 | LTIDR | LC | RW | BB- | | RWN | |
| A1561 | 2026-03-03 | E1263 | LTIDR | FC | DG | BBB | STA | | |
| A1140 | 2026-03-04 | E1064 | LTIDR | FC | DG | BBB+ | STA | | |
| A1212 | 2026-03-05 | E1098 | LTIDR | FC | RW | BBB- | | RWN | |
| A1732 | 2026-03-10 | E1347 | LTIDR | FC | DG | BBB- | NEG | | |
| A1726 | 2026-03-18 | E1344 | LTIDR | FC | DG | A- | NEG | | |
| A1734 | 2026-03-18 | E1348 | LTIDR | FC | DG | BBB- | NEG | | |
| A1350 | 2026-03-19 | E1163 | LTIDR | FC | DG | BB+ | POS | | |
| A1449 | 2026-03-19 | E1213 | LTIDR | FC | RW | A | | RWN | |
| A1109 | 2026-03-20 | E1053 | LTIDR | FC | DG | BB | NEG | | |
| A1102 | 2026-04-05 | E1051 | LTIDR | FC | DG | A+ | NEG | | |
| A1639 | 2026-04-09 | E1300 | LTIDR | FC | DG | BBB+ | STA | | |
| A27 | 2026-04-15 | E10 | LTIDR | FC | DG | BBB+ | STA | | |
| A1009 | 2026-04-15 | E1006 | LTIDR | FC | UG | AA | STA | | |
| A1211 | 2026-04-28 | E1098 | LTIDR | FC | RW | BBB- | | RWN | |
| A1070 | 2026-05-02 | E1034 | LTIDR | FC | DG | BBB+ | NEG | | |
| A1145 | 2026-05-03 | E1066 | LTIDR | FC | RW | A- | | RWN | |
| A1482 | 2026-05-06 | E1229 | LTIDR | FC | DG | BB | STA | | |
| A1640 | 2026-05-06 | E1300 | LTIDR | FC | DG | BBB | NEG | | |
| A1365 | 2026-05-09 | E1170 | LTIDR | FC | UG | BB | POS | | |
| A1309 | 2026-05-20 | E1144 | LTIDR | FC | UG | BB- | POS | | |
| A1337 | 2026-05-22 | E1158 | LTIDR | FC | RW | BBB | | RWN | |
| A1104 | 2026-06-01 | E1051 | LTIDR | FC | DG | A+ | POS | | |
| A44 | 2026-06-01 | E16 | LTIDR | FC | DG | BB+ | STA | | |
| A1481 | 2026-06-02 | E1229 | LTIDR | FC | DG | BB+ | STA | | |
| A1142 | 2026-06-03 | E1064 | LTIDR | FC | UG | A- | NEG | | |
| A1648 | 2026-06-04 | E1303 | LTIDR | FC | RW | BB+ | | RWN | |
| A1310 | 2026-06-06 | E1144 | LTIDR | FC | DG | B+ | POS | | |
| A1359 | 2026-06-13 | E1167 | LTIDR | FC | UG | BB+ | POS | | |
| A1562 | 2026-06-16 | E1263 | LTIDR | FC | DG | BBB- | NEG | | |
| A1341 | 2026-06-16 | E1159 | LTIDR | FC | DG | BBB+ | POS | | |
| A1451 | 2026-06-16 | E1213 | LTIDR | FC | DG | BBB+ | POS | | |
| A1010 | 2026-06-17 | E1006 | LTIDR | FC | RW | AA | | RWN | |
| A1122 | 2026-06-25 | E1057 | LTIDR | FC | DG | BB | STA | | |
| A1718 | 2026-06-26 | E1340 | LTIDR | FC | DG | BBB+ | NEG | | |
| A1479 | 2026-06-28 | E1228 | LTIDR | FC | DG | BB+ | NEG | | |
| A1659 | 2026-07-05 | E1307 | LTIDR | FC | UG | BB | STA | | |
| A22 | 2026-07-08 | E08 | LTIDR | FC | DG | RD | | | distressed debt exchange completed |
| A1110 | 2026-07-09 | E1053 | LTIDR | FC | UG | BB+ | STA | | |
| A1627 | 2026-07-11 | E1294 | LTIDR | FC | DG | A+ | NEG | | |
| A1127 | 2026-07-14 | E1058 | LTIDR | FC | DG | BBB- | POS | | |
| A1722 | 2026-07-17 | E1342 | LTIDR | FC | DG | BBB+ | NEG | | |
| A1568 | 2026-07-20 | E1266 | LTIDR | FC | RW | BBB | | RWN | |
| A1587 | 2026-07-22 | E1276 | LTIDR | FC | RW | AA- | | RWN | |
| A1202 | 2026-07-25 | E1093 | LTIDR | FC | DG | B | STA | | |
| A1653 | 2026-07-25 | E1304 | LTIDR | FC | UG | BB | POS | | |
(20 more rows not shown)
Query 4:
| action_id | date | rated_id | rating_type | ccy_basis | action | rating | outlook | watch | comment |
|---|---|---|---|---|---|---|---|---|---|
| A06 | 2025-06-20 | I01 | INST | | DG | BBB | | | |
| A07 | 2025-06-20 | I02 | INST | | DG | BB+ | | | |
| A11 | 2025-09-15 | I03 | INST | | AF | A | | | |
| A1357 | 2026-03-17 | I1049 | INST | | EX | BB- | | | |
| A29 | 2026-04-15 | I05 | INST | | DG | BBB+ | | | |
| A1345 | 2026-05-18 | I1046 | INST | | EX | B+ | | | |
| A1033 | 2026-05-23 | I1008 | INST | | EX | B+ | | | |
| A22 | 2026-07-08 | E08 | LTIDR | FC | DG | RD | | | distressed debt exchange completed |
| A1051 | 2026-07-22 | I1012 | INST | | EX | A- | | | |
| A47 | 2026-09-01 | I08 | INST | | EX | A | | | |
| A1120 | 2026-09-18 | I1021 | INST | | EX | AA- | | | |
| A1029 | 2026-11-11 | I1007 | INST | | EX | AA- | | | |
| A1011 | 2026-11-17 | I1001 | INST | | EX | A+ | | | |
| A1078 | 2026-12-17 | I1015 | INST | | EX | B+ | | | |
Query 5:
| country | count_star() |
|---|---|
| GB | 92 |
| US | 54 |
| FR | 52 |
| DE | 43 |
| ES | 32 |
| NL | 28 |
| IT | 21 |
| CV | 20 |
| GR | 17 |
| VD | 10 |
| LU | 1 |
Run more queries, or give the final answers.The model
```sql
WITH l AS (SELECT *, row_number() OVER (PARTITION BY rated_id, rating_type, ccy_basis ORDER BY date DESC, action_id DESC) rn FROM rating_actions WHERE date<='2026-10-01' AND rating_type IN ('LTIDR','STIDR'))
SELECT l.rated_id, e.lei, e.country, e.source_system, l.ccy_basis, l.date, l.action, l.rating, l.outlook, l.watch FROM l JOIN entities e ON e.entity_id=l.rated_id WHERE rn=1 AND (l.action='RW' OR l.outlook='NEG' OR l.rating IN ('RD','D','C','DD')) ORDER BY 1;
```
```sql
SELECT DISTINCT r.rated_id, e.lei, e.source_system, r.date, r.rating, r.ccy_basis, r.outlook FROM rating_actions r JOIN entities e ON e.entity_id=r.rated_id WHERE r.action='DG' AND r.rating_type='LTIDR' AND r.date BETWEEN '2026-01-01' AND '2026-12-31' ORDER BY 1,4;
```
```sql
SELECT count(DISTINCT coalesce(nullif(lei,''),entity_id)) distinct_ent, count(DISTINCT CASE WHEN country='LU' THEN coalesce(nullif(lei,''),entity_id) END) lu, count(*) FROM entities;
```
```sql
WITH l AS (SELECT *, row_number() OVER (PARTITION BY rated_id ORDER BY date DESC, action_id DESC) rn FROM rating_actions WHERE date<='2026-10-01' AND rating_type='LTIDR' AND ccy_basis='FC')
SELECT count(*) n_active, count(DISTINCT coalesce(nullif(e.lei,''),e.entity_id)) n_lei, count(DISTINCT CASE WHEN e.country='GB' THEN coalesce(nullif(e.lei,''),e.entity_id) END) gb FROM l JOIN entities e ON e.entity_id=l.rated_id WHERE rn=1 AND l.action<>'WD';
```
```sql
SELECT rated_id, string_agg(date||':'||action||':'||rating, ' | ' ORDER BY date) FROM rating_actions WHERE rating_type='LTIDR' AND rated_id IN (SELECT rated_id FROM rating_actions WHERE action='WD' AND date<='2026-10-01') GROUP BY 1 HAVING count(*)>0 ORDER BY 1 LIMIT 60;
```Query results
Query 1:
| rated_id | lei | country | source_system | ccy_basis | date | action | rating | outlook | watch |
|---|---|---|---|---|---|---|---|---|---|
| E01 | 7245002OOPBG04092E43 | GB | RATINGS | FC | 2026-02-10 | AF | BBB | NEG | |
| E06 | 549300AMVE3VRVG7HK43 | DE | RATINGS | FC | 2026-09-03 | RW | A- | | RWN |
| E08 | 969500KOTZ1JFIZSG796 | GR | RATINGS | FC | 2026-07-08 | DG | RD | | |
| E09 | 815600ASM9EHDG931T89 | GB | RATINGS | FC | 2026-03-01 | AF | A | NEG | |
| E1005 | 815600JRN7AOE36KFR35 | US | RATINGS | FC | 2025-08-02 | DG | BB | NEG | |
| E1006 | 213800WSVEOAQ5HD4C43 | US | RATINGS | FC | 2026-06-17 | RW | AA | | RWN |
| E1013 | 969500U072SAPPW32N81 | NL | RATINGS | FC | 2025-07-09 | RW | BB- | | RWN |
| E1019 | 391200GSFO0F68KKUC67 | CV | RATINGS | LC | 2024-03-20 | RW | BBB- | | RWN |
| E1029 | 8156008DPX4I9DNKWN26 | US | RATINGS | FC | 2025-08-08 | UG | A- | NEG | |
| E1034 | 815600KLV84WAQGPSX27 | IT | RATINGS | FC | 2026-05-02 | DG | BBB+ | NEG | |
| E1037 | 391200OBAXI8590VQN12 | FR | RATINGS | FC | 2022-05-07 | RW | A | | RWN |
| E1039 | 969500HA9D5I7F73PW83 | CV | RATINGS | FC | 2025-12-09 | RW | A | | RWN |
| E1046 | 549300ZM08IADSAK3L87 | US | RATINGS | FC | 2025-05-28 | UG | AA- | NEG | |
| E1055 | 724500WWWM8KJ2Q08398 | GB | RATINGS | FC | 2024-12-04 | UG | BBB- | NEG | |
| E1056 | 969500DMA3PCFLMC4U98 | IT | RATINGS | FC | 2023-01-01 | DG | A+ | NEG | |
| E1059 | 549300CRXZL5I1OT6L14 | CV | RATINGS | LC | 2026-02-23 | RW | BB- | | RWN |
| E1060 | 549300CRXZL5I1OT6L14 | CV | RESEARCH | FC | 2025-02-16 | AF | BB- | NEG | |
| E1061 | 5493002BLV266QJVIH90 | DE | RATINGS | FC | 2025-06-06 | RW | A | | RWN |
| E1064 | 213800YPXA4OJXD8EB91 | NL | RATINGS | FC | 2026-06-03 | UG | A- | NEG | |
| E1066 | 213800VQSNQ2434DKS91 | ES | RATINGS | FC | 2026-05-03 | RW | A- | | RWN |
| E1072 | 969500W1RDU3ZPX1YB94 | GB | RATINGS | FC | 2026-02-07 | AF | BB- | NEG | |
| E1079 | 5493000MDIWO1KHI0272 | GB | RATINGS | FC | 2024-01-26 | AF | BB+ | NEG | |
| E1080 | 815600SERWD64UWU8808 | US | RATINGS | FC | 2026-02-14 | DG | A- | NEG | |
| E1088 | 549300GS8TRRRJCSVZ45 | FR | RATINGS | FC | 2024-01-16 | RW | B+ | | RWN |
| E1098 | 724500HD5AQ2MDSXXU69 | US | RATINGS | FC | 2026-04-28 | RW | BBB- | | RWN |
| E1099 | 213800XQVJ5IKNNVXY16 | FR | RATINGS | FC | 2023-11-05 | RW | BB+ | | RWN |
| E1105 | 3912002RB0IGZZN6RN49 | GR | RATINGS | FC | 2024-01-13 | UG | A+ | NEG | |
| E1109 | 815600379XSXXQR72R46 | NL | RATINGS | FC | 2025-12-25 | RW | A+ | | RWN |
| E1118 | 969500ZM445IDEYHCL85 | DE | RATINGS | FC | 2025-07-14 | DG | BB+ | NEG | |
| E1126 | 213800QG4ZGLWRUBIQ31 | VD | RATINGS | FC | 2025-07-10 | RW | BB | | RWN |
| E1132 | 549300WSZI986L1XA988 | US | RATINGS | FC | 2025-08-24 | RW | B+ | | RWN |
| E1133 | 549300PSORKEO25SHT85 | US | RATINGS | FC | 2025-10-11 | RW | B+ | | RWN |
| E1146 | 7245008Y7HAJI3ZSJK12 | US | RATINGS | FC | 2025-08-12 | RW | BB | | RWN |
| E1158 | 9695008UP74QEOJ3KW74 | ES | RATINGS | FC | 2026-08-14 | AF | BBB | NEG | |
| E1161 | 969500PM41NS2PBZU440 | FR | RESEARCH | FC | 2026-07-28 | DG | B | NEG | |
| E1168 | 549300N9NKGSRIO34Y39 | US | RATINGS | FC | 2023-10-12 | RW | BBB- | | RWN |
| E1181 | 3912006PQEEWVJETOG62 | IT | RATINGS | FC | 2025-01-06 | RW | A- | | RWN |
| E1188 | 815600O0Y6S2CPCDAA82 | GR | RATINGS | FC | 2024-09-05 | UG | BB- | NEG | |
| E1190 | 549300ENXJ8RIUXUHZ80 | GB | RATINGS | FC | 2025-05-24 | UG | BBB | NEG | |
| E1194 | 815600GVTRTKVHG8BO41 | CV | RATINGS | FC | 2025-01-20 | RW | A | | RWN |
| E1203 | 724500W08E6JP9P9NC97 | DE | RATINGS | FC | 2023-09-02 | RW | BBB+ | | RWN |
| E1210 | 549300HWTXXHJP2HKU38 | DE | RESEARCH | FC | 2024-09-09 | RW | BB | | RWN |
| E1211 | 2138006JVQYZA2IAU357 | GB | RATINGS | FC | 2024-09-26 | AF | BBB- | NEG | |
| E1228 | 724500JFK718P3DNW233 | GB | RATINGS | FC | 2026-06-28 | DG | BB+ | NEG | |
| E1238 | 5493004IM0PRT8BSDK29 | GR | RATINGS | FC | 2026-07-27 | RW | AA- | | RWN |
| E1242 | 213800VNDQV0VN6FVU72 | IT | RATINGS | FC | 2025-09-11 | RW | BBB | | RWN |
| E1248 | 213800XN4WOS9M0UP985 | US | RATINGS | FC | 2026-05-02 | AF | A- | NEG | |
| E1260 | 969500D8VQO3X7NDHQ76 | US | RATINGS | FC | 2025-09-05 | RW | BBB- | | RWN |
| E1262 | 549300H1N0EQEAZLE362 | ES | RESEARCH | FC | 2024-10-13 | AF | B+ | NEG | |
| E1263 | 213800TWNH19JCPPPE80 | US | RATINGS | FC | 2026-06-16 | DG | BBB- | NEG | |
| E1264 | 549300HH75F3NXLKV336 | GB | RATINGS | FC | 2024-05-18 | RW | B+ | | RWN |
| E1266 | 724500CD625Q9LIJG838 | NL | RATINGS | FC | 2026-07-20 | RW | BBB | | RWN |
| E1267 | 8156006G7EEYC0O0U554 | FR | RATINGS | FC | 2023-12-15 | RW | A- | | RWN |
| E1271 | 213800M91M3NKSWT8K97 | DE | RATINGS | FC | 2025-10-15 | AF | A- | NEG | |
| E1282 | 724500GZZJO3VTZ5OY05 | US | RATINGS | FC | 2024-03-20 | AF | BB+ | NEG | |
| E1294 | 391200WPOJY9F1NTH725 | IT | RATINGS | FC | 2026-07-11 | DG | A+ | NEG | |
| E1297 | 7245002QMS1HJ8LWKI72 | IT | RATINGS | FC | 2026-09-01 | RW | BBB | | RWN |
| E1300 | 391200Z1OH1HXMHTW971 | GB | RATINGS | FC | 2026-05-06 | DG | BBB | NEG | |
| E1314 | 815600VWY9ZIH3XVHE31 | GB | RATINGS | FC | 2024-06-26 | RW | BBB | | RWN |
| E1317 | 391200YYRT4OCYJBQT44 | DE | RATINGS | FC | 2024-09-11 | RW | BB | | RWN |
(10 more rows not shown)
Query 2:
| rated_id | lei | source_system | date | rating | ccy_basis | outlook |
|---|---|---|---|---|---|---|
| E08 | 969500KOTZ1JFIZSG796 | RATINGS | 2026-01-20 | CCC | FC | |
| E08 | 969500KOTZ1JFIZSG796 | RATINGS | 2026-07-08 | RD | FC | |
| E10 | 391200QYPVFF2O9K2039 | RATINGS | 2026-04-15 | BBB+ | FC | STA |
| E1034 | 815600KLV84WAQGPSX27 | RATINGS | 2026-05-02 | BBB+ | FC | NEG |
| E1051 | 724500WO4TZY2027IZ62 | RATINGS | 2026-04-05 | A+ | FC | NEG |
| E1051 | 724500WO4TZY2027IZ62 | RATINGS | 2026-06-01 | A+ | FC | POS |
| E1053 | 5493001E7O9QDD98PV36 | RATINGS | 2026-03-20 | BB | FC | NEG |
| E1057 | 2138009BPHEDKSZHFF68 | RATINGS | 2026-06-25 | BB | FC | STA |
| E1058 | 969500Y1Y66M1421WE10 | RATINGS | 2026-07-14 | BBB- | FC | POS |
| E1064 | 213800YPXA4OJXD8EB91 | RATINGS | 2026-03-04 | BBB+ | FC | STA |
| E1080 | 815600SERWD64UWU8808 | RATINGS | 2026-02-14 | A- | FC | NEG |
| E1093 | 969500IYLWO8RRIOIL83 | RATINGS | 2026-07-25 | B | FC | STA |
| E1112 | 969500QJ1AV6AZJSB088 | RATINGS | 2026-02-20 | BBB | FC | POS |
| E1144 | 213800QV7J1EXLC4YX51 | RATINGS | 2026-06-06 | B+ | FC | POS |
| E1151 | 549300XHVH0VBXX4D156 | RATINGS | 2026-01-26 | BBB | FC | POS |
| E1159 | 213800VMJXKPLM9ZIL74 | RATINGS | 2026-06-16 | BBB+ | FC | POS |
| E1161 | 969500PM41NS2PBZU440 | RESEARCH | 2026-07-28 | B | FC | NEG |
| E1163 | 549300SBMAQCEKT3IC98 | RATINGS | 2026-03-19 | BB+ | FC | POS |
| E1167 | 5493000NGCMTDC4BZ653 | RATINGS | 2026-09-07 | BB | FC | STA |
| E1170 | 549300XV49ES64RGNQ00 | RESEARCH | 2026-08-16 | BB- | FC | STA |
| E1186 | 549300OCOVKZOF4FO259 | RATINGS | 2026-01-04 | BBB+ | FC | STA |
| E1213 | 549300A64I73OEIC4R87 | RATINGS | 2026-02-13 | A- | FC | STA |
| E1213 | 549300A64I73OEIC4R87 | RATINGS | 2026-06-16 | BBB+ | FC | POS |
| E1228 | 724500JFK718P3DNW233 | RATINGS | 2026-06-28 | BB+ | FC | NEG |
| E1229 | 549300GJM0MMFEH84V77 | RATINGS | 2026-05-06 | BB | FC | STA |
| E1229 | 549300GJM0MMFEH84V77 | RATINGS | 2026-06-02 | BB+ | FC | STA |
| E1243 | 2138008SWUJK7JUSMR14 | RATINGS | 2026-01-13 | BB | FC | STA |
| E1255 | 7245002EC45UEUXQJA30 | RATINGS | 2026-01-19 | BBB+ | FC | STA |
| E1263 | 213800TWNH19JCPPPE80 | RATINGS | 2026-03-03 | BBB | FC | STA |
| E1263 | 213800TWNH19JCPPPE80 | RATINGS | 2026-06-16 | BBB- | FC | NEG |
| E1285 | 391200J1XGI3MNYV2584 | RATINGS | 2026-02-17 | A | FC | POS |
| E1290 | 5493005YGBG4Z7ZGH950 | RATINGS | 2026-08-16 | B | FC | POS |
| E1294 | 391200WPOJY9F1NTH725 | RATINGS | 2026-07-11 | A+ | FC | NEG |
| E1299 | 815600RCZP0ISY44E024 | RESEARCH | 2026-02-06 | BBB | FC | POS |
| E1300 | 391200Z1OH1HXMHTW971 | RATINGS | 2026-04-09 | BBB+ | FC | STA |
| E1300 | 391200Z1OH1HXMHTW971 | RATINGS | 2026-05-06 | BBB | FC | NEG |
| E1307 | 969500CNC5SOCN5K2N29 | RATINGS | 2026-02-08 | BB- | FC | POS |
| E1340 | 213800CSTQH7UO0A8E29 | QA | 2026-06-26 | BBB+ | FC | NEG |
| E1341 | 549300IFOJRHYHEP5N72 | QA | 2026-11-09 | BBB+ | FC | NEG |
| E1342 | 7245000RRKYSQSJ2DB31 | QA | 2026-07-17 | BBB+ | FC | NEG |
| E1343 | 969500F1DAQZF8FNJS41 | QA | 2026-08-08 | BBB+ | FC | NEG |
| E1344 | 724500N069ZCQGY1UI76 | QA | 2026-03-18 | A- | FC | NEG |
| E1345 | 391200T3GEO5X4SJMO02 | QA | 2026-09-22 | BB- | FC | NEG |
| E1346 | 391200MMTFNAN4NBM054 | QA | 2026-10-15 | BBB+ | FC | NEG |
| E1347 | 724500649FYULZG25F44 | QA | 2026-03-10 | BBB- | FC | NEG |
| E1348 | 724500JEL6C1PJZEDM26 | QA | 2026-03-18 | BBB- | FC | NEG |
| E1349 | 724500PGN9P0AMIWNV47 | QA | 2026-10-14 | A- | FC | NEG |
| E1350 | 213800GZMC02BI2WJX12 | QA | 2026-09-03 | BB | FC | NEG |
| E1351 | 969500MERFFSB2CHQE09 | QA | 2026-09-27 | A- | FC | NEG |
| E16 | 5493003Z3PXXR7KNFM81 | QA | 2026-06-01 | BB+ | FC | STA |
Query 3:
| distinct_ent | lu | count_star() |
|---|---|---|
| 344 | 1 | 370 |
Query 4:
| n_active | n_lei | gb |
|---|---|---|
| 291 | 290 | 74 |
Query 5:
| rated_id | string_agg(((((date || ':') || "action") || ':') || rating), ' | ' ORDER BY date) |
|---|---|
| E07 | 2024-01-10:AS:BB | 2026-05-12:WD:WD |
| E1002 | 2022-08-18:AS:A+ | 2025-07-20:WD:WD |
| E1007 | 2023-06-03:AS:BB- | 2026-06-27:WD:WD |
| E1021 | 2022-06-19:AS:BBB- | 2025-11-08:WD:WD |
| E1032 | 2025-11-08:AS:A+ | 2026-09-15:WD:WD |
| E1041 | 2023-01-01:AS:A+ | 2023-04-08:RW:A+ | 2024-04-09:WD:WD |
| E1048 | 2022-12-22:AS:BB | 2023-04-15:WD:WD |
| E1057 | 2025-02-21:AS:BB+ | 2026-06-25:DG:BB | 2026-09-08:AF:BB | 2026-09-19:WD:WD |
| E1062 | 2023-05-26:AS:BBB- | 2025-03-28:WD:WD |
| E1063 | 2023-07-05:AS:BB- | 2025-01-12:WD:WD |
| E1076 | 2022-10-24:AS:B+ | 2024-04-28:WD:WD |
| E1084 | 2025-06-12:AS:BB | 2025-08-02:WD:WD |
| E1106 | 2024-10-26:AS:B+ | 2024-10-26:AS:BB | 2025-08-10:WD:WD |
| E1107 | 2023-05-25:AS:B+ | 2024-03-27:DG:B | 2024-10-16:WD:WD |
| E1115 | 2022-09-01:AS:A+ | 2025-06-28:WD:WD | 2025-08-06:UG:AA- |
| E1121 | 2024-01-25:AS:A | 2024-04-24:RW:A | 2024-10-23:WD:WD |
| E1124 | 2022-10-10:AS:B+ | 2024-06-15:WD:WD |
| E1138 | 2024-03-05:AS:BBB- | 2024-12-26:WD:WD |
| E1140 | 2024-02-08:AS:AA- | 2025-09-15:WD:WD |
| E1155 | 2025-02-14:AS:BB- | 2026-03-22:WD:WD |
| E1158 | 2025-07-14:AS:BBB | 2026-02-27:WD:WD | 2026-05-22:RW:BBB | 2026-08-14:AF:BBB |
| E1159 | 2025-11-02:AS:A- | 2026-06-16:DG:BBB+ | 2026-09-22:WD:WD |
| E1166 | 2022-05-19:AS:BB | 2023-07-26:WD:WD |
| E1172 | 2025-02-28:AS:BB+ | 2025-10-28:DG:BB | 2025-11-15:RW:BB | 2026-03-12:WD:WD |
| E1200 | 2023-02-03:AS:BB | 2023-11-03:WD:WD |
| E1205 | 2025-03-28:AS:A | 2025-11-16:WD:WD |
| E1206 | 2025-05-09:AS:AA- | 2025-11-20:WD:WD |
| E1218 | 2024-11-12:AS:AA- | 2026-05-22:WD:WD |
| E1219 | 2024-11-01:AS:BBB- | 2026-04-11:WD:WD |
| E1225 | 2023-03-06:AS:BBB- | 2025-06-12:WD:WD |
| E1233 | 2024-11-17:AS:BBB | 2025-01-24:WD:WD |
| E1234 | 2025-07-19:AS:BB+ | 2026-09-22:WD:WD |
| E1244 | 2023-11-19:AS:BBB- | 2024-04-18:WD:WD |
| E1254 | 2024-12-21:AS:A | 2025-05-15:AF:A | 2025-08-13:WD:WD |
| E1277 | 2024-06-08:AS:BB+ | 2025-12-14:WD:WD |
| E1279 | 2022-04-23:AS:BB | 2022-04-23:AS:BB | 2023-12-16:AF:BB | 2024-11-17:WD:WD |
| E1303 | 2025-07-23:AS:BB+ | 2026-03-26:WD:WD | 2026-06-04:RW:BB+ | 2026-08-13:UG:BBB- |
| E1308 | 2022-03-02:AS:A+ | 2025-02-09:AF:A+ | 2025-06-19:WD:WD |
| E1316 | 2022-06-01:AS:A- | 2024-07-07:WD:WD |
| E1320 | 2022-03-03:AS:BB+ | 2023-10-15:WD:WD |
Run more queries, or give the final answers.The model
<invoke name="sql">
</invoke>
```sql
CREATE OR REPLACE TEMP VIEW ent AS SELECT *, coalesce(nullif(lei,''),entity_id) k, first_value(entity_id) OVER (PARTITION BY coalesce(nullif(lei,''),entity_id) ORDER BY (source_system<>'RATINGS'), entity_id) canon FROM entities;
CREATE OR REPLACE TEMP VIEW lat AS SELECT e.canon, e.country, r.* , row_number() OVER (PARTITION BY e.k, r.ccy_basis ORDER BY r.date DESC, r.action_id DESC) rn FROM rating_actions r JOIN ent e ON e.entity_id=r.rated_id WHERE r.rating_type='LTIDR' AND r.date<='2026-10-01';
SELECT 'holders' t, count(DISTINCT canon) n, string_agg(DISTINCT canon,',') l FROM lat WHERE rn=1 AND action<>'WD'
UNION ALL SELECT 'holders_GB', count(DISTINCT canon), NULL FROM lat WHERE rn=1 AND action<>'WD' AND canon IN (SELECT entity_id FROM entities WHERE country='GB')
UNION ALL SELECT 'rwn', count(DISTINCT canon), string_agg(DISTINCT canon,',') FROM lat WHERE rn=1 AND watch='RWN'
UNION ALL SELECT 'neg', count(DISTINCT canon), string_agg(DISTINCT canon,',') FROM lat WHERE rn=1 AND outlook='NEG'
UNION ALL SELECT 'ceasedFC', count(DISTINCT canon), string_agg(DISTINCT canon,',') FROM lat WHERE rn=1 AND action='WD' AND canon NOT IN (SELECT canon FROM lat WHERE rn=1 AND action<>'WD')
UNION ALL SELECT 'dg2026', count(DISTINCT canon), string_agg(DISTINCT canon,',') FROM (SELECT e.canon FROM rating_actions r JOIN ent e ON e.entity_id=r.rated_id WHERE r.rating_type='LTIDR' AND r.action='DG' AND r.date BETWEEN '2026-01-01' AND '2026-12-31');
```
```sql
SELECT 'cvvd', e.canon||' '||e.country||' '||l.ccy_basis||' '||l.rating||' '||l.action AS x FROM ent e JOIN rating_actions l ON l.rated_id=e.entity_id AND l.rating_type='LTIDR' AND l.date<='2026-10-01' WHERE e.country IN ('CV','VD') AND e.entity_type<>'SOV' AND l.action_id=(SELECT action_id FROM rating_actions z WHERE z.rated_id=e.entity_id AND z.rating_type='LTIDR' AND z.ccy_basis=l.ccy_basis AND z.date<='2026-10-01' ORDER BY date DESC, action_id DESC LIMIT 1)
UNION ALL SELECT 'kids', entity_id||' parent '||parent_id FROM entities WHERE parent_id IN ('E09','E10','E11','E02','E04','E03','E17','E12') OR entity_id IN ('E12')
UNION ALL SELECT 'inst', count(*)||' rated; IG '||sum(CASE WHEN rating IN ('AAA','AA+','AA','AA-','A+','A','A-','BBB+','BBB','BBB-') THEN 1 ELSE 0 END) FROM (SELECT *, row_number() OVER (PARTITION BY rated_id ORDER BY date DESC, action_id DESC) rn FROM rating_actions WHERE rating_type='INST' AND date<='2026-10-01') WHERE rn=1 AND action<>'EX';
```Query results
Query 1:
| t | n | l |
|---|---|---|
| holders | 291 | E1040,E1350,E1287,E1173,E1054,E1083,E1294,E1231,E1306,E1111,E1055,E1078,E1036,E1151,E1212,E1026,E1027,E1165,E1264,E1281,E1019,E1068,E1280,E1077,E1073,E1167,E1341,E1204,E1006,E1296,E1131,E1058,E1201,E1318,E1193,E1290,E1016,E1249,E1269,E1223,E1102,E1285,E1037,E1209,E1134,E1034,E1202,E1110,E1279,E1143,E1257,E1278,E1317,E1286,E1188,E1100,E1248,E1236,E1242,E1009,E1128,E1141,E1235,E1092,E1271,E1065,E1247,E1272,E1109,E1304,CV,E1347,E1301,E1179,E1168,E1051,E1031,E1321,E1237,E1275,E1310,E1268,E1171,E01,E1129,E1261,E1064,E1075,E1130,E1093,E1221,E1177,E1014,E1185,E1035,E13,E1270,E1147,E1174,E1265,E1118,E1045,E1343,E1176,E1217,E1229,E1258,E1203,E1146,E1323,E1066,E1302,E1345,E1050,E1047,E1094,E1263,E1314,E1135,E1298,E1137,E1307,E1255,E1228,E1349,E1309,E1120,E1028,E1098,E1008,E1023,E1079,E1289,E1315,E1038,E1018,E1284,E1082,E1175,E1196,E1183,E1208,E1224,E1049,E1192,E1126,E1189,E1324,E1216,E1230,E1003,E1133,E1243,E1085,E09,E1240,E1144,E1053,E1182,E1152,E1211,E1033,E1251,E1164,E1142,E1191,E06,E1273,E1125,E1013,E15,E1136,E1238,E1081,E1127,E1322,E1297,E1080,E1090,E02,E1061,E1005,E1074,E1103,E1095,E1232,E1122,E1059,E1198,E1346,E1340,E1010,E1250,E1039,E1069,E1312,E1282,E16,E1043,E1266,E1119,E1056,E1207,E1088,E1194,E1162,E1291,E1105,E1087,E1156,E1106,E1025,E1344,E1024,E1158,E1015,E1112,E1042,E1184,E1108,E1260,E1099,E1292,E1252,E1046,E1020,E1132,E1215,E1004,E1186,E1169,E1227,E1276,E1348,E08,E1044,E1190,E1199,E1113,E1072,E1295,E1052,E14,E1067,E1181,E1070,E1116,E1197,E1178,E1017,E1154,E1091,E1293,E10,E1351,E1114,E1096,E1220,E1274,E1313,E05,E1101,E1150,E1115,E1123,E1089,E1256,E1160,E1342,E1011,E1029,E1086,E1226,E1267,E12,E1071,E1163,E1187,E1195,E1222,E1283,E1149,E1012,E1288,E1303,E1213,E1300,E1241,E1245,E1305,E1145 |
| holders_GB | 74 | |
| rwn | 32 | E1133,E06,E1061,E1013,E1238,E1297,E1266,E1039,E1059,E1194,E1088,E1203,E1314,E1146,E1323,E1066,E1098,E1126,E1019,E1264,E1006,E1317,E1037,E1209,E1242,E1168,E1109,E1260,E1132,E1099,E1181,E1267 |
| neg | 37 | E1350,E1055,E1294,E1188,E1248,E1034,E1347,E1271,E1261,E1118,E1064,E01,E1343,E1345,E1228,E1263,E1029,E1342,E1351,E1160,E09,E1211,E1080,E1005,E1340,E1056,E1059,E1282,E1105,E1344,E1158,E1046,E1348,E1072,E1190,E1079,E1300 |
| ceasedFC | 35 | E1057,E1308,E1007,E1032,E1155,E1159,E1253,E1107,E1140,E1138,E1063,E1041,E1218,E1316,E1244,E1121,E1205,E1021,E1166,E07,E1084,E1048,E1277,E1225,E1234,E1233,E1200,E1001,E1172,E1124,E1206,E1219,E1320,E1076,E1062 |
| dg2026 | 44 | E1151,E1350,E1294,E1341,E1167,E1058,E1285,E1290,E16,E1340,E1346,E1344,E1169,E1112,E08,E1348,E1186,E1342,E10,E1351,E1160,E1144,E1053,E1057,E1243,E1159,E1080,E1034,E1347,E1051,E1093,E1064,E1343,E1263,E1345,E1349,E1307,E1229,E1228,E1298,E1255,E1213,E1163,E1300 |
Query 2:
| 'cvvd' | x |
|---|---|
| cvvd | E05 VD LC BBB- AS |
| cvvd | E05 VD FC BB AS |
| cvvd | E15 CV LC A+ AS |
| cvvd | E15 CV FC A AS |
| cvvd | E1028 VD FC BB UG |
| cvvd | E1223 CV FC BB+ AS |
| cvvd | E1101 VD LC BB+ AS |
| cvvd | E1236 VD FC BB AS |
| cvvd | E1039 CV FC A RW |
| cvvd | E1279 VD FC WD WD |
| cvvd | E1126 VD LC BBB- AS |
| cvvd | E1313 VD FC BB- DG |
| cvvd | E1283 CV LC B+ DG |
| cvvd | E1096 CV LC BBB+ AF |
| cvvd | E1106 VD FC B+ AS |
| cvvd | E1194 CV FC A RW |
| cvvd | E1194 CV LC A AS |
| cvvd | E1096 CV FC BBB AS |
| cvvd | E1245 CV FC B+ UG |
| cvvd | E1039 CV LC AA- AS |
| cvvd | E1245 CV LC B DG |
| cvvd | E1136 CV FC A- AS |
| cvvd | E1243 CV FC BB AF |
| cvvd | E1144 CV LC BB- UG |
| cvvd | E1101 VD FC BB AS |
| cvvd | E1059 CV FC BB- AF |
| cvvd | E1243 CV LC BBB+ AF |
| cvvd | E1071 CV FC B+ AS |
| cvvd | E1059 CV LC BB- RW |
| cvvd | E1283 CV FC BB UG |
| cvvd | E1307 VD FC BB- AF |
| cvvd | E1229 CV FC BB+ DG |
| cvvd | E1313 VD LC BBB- AS |
| cvvd | E1229 CV LC BBB- AF |
| cvvd | E1028 VD LC BBB UG |
| cvvd | E1126 VD FC BB RW |
| cvvd | E1279 VD LC BB AF |
| cvvd | E1217 CV FC BB- AS |
| cvvd | E1304 CV FC BB UG |
| cvvd | E1019 CV LC BBB- RW |
| cvvd | E1019 CV FC BB+ AS |
| cvvd | E1185 CV FC BB+ AS |
| cvvd | E1144 CV FC B+ DG |
| cvvd | E1106 VD LC WD WD |
| kids | E04 parent E02 |
| kids | E10 parent E09 |
| kids | E11 parent E10 |
| kids | |
| inst | 106 rated; IG 66 |
Run more queries, or give the final answers.The model
**Q1.** A-. E01's last action before 1 Jan 2025 was A01 (A-); the downgrade to BBB (A02) came on 2025-06-20.
**Q2.** No. E01 had only affirmations in 2026 (A03 and A04, 2026-02-10), where the outlook moved to Negative; the one downgrade, A02, was in 2025.
**Q3.** No. I02 (the 2031 note) was cut to BB+ by A07, which is sub-investment grade.
**Q4.** Positive. E03 is a RESEARCH duplicate of E02 (same LEI), and its A09 (2025-09-15) is the latest action, with outlook POS.
**Q5.** A holder takes the credit risk of E02, the guarantor of I03, which is rated A (A08 and A09).
**Q6.** It is capped by the country ceiling. VD's Country Ceiling (A12) is BB, so E05's foreign-currency rating is BB (A14), while its local-currency rating is BBB- (A13).
**Q7.** 44 entities had a long-term rating downgrade dated 2026, listed in the JSON. Duplicate records were merged by LEI and some actions are dated after today, so this is a best reading.
**Q8.** E08. A22 (2026-07-08) rated it RD, a default rating, and nothing later changes that.
**Q9.** 291. This counts distinct LEI-deduplicated entities whose latest long-term rating action on or before 2026-10-01 is not a withdrawal, and it includes the sovereign CV.
**Q10.** Depends. E05 is BBB- in local currency (investment grade) but BB in foreign currency (not).
**Q11.** BBB+. A36 downgraded E14 on 2024-09-30.
**Q12.** A-. A34 is E14's rating from 2023-01-15.
**Q13.** 1. A36 is the only downgrade of E14.
**Q14.** None. E12's first rating, A30, is dated 2024-02-01.
**Q15.** A-. A26 set E10 at A-, and the downgrade A27 came only on 2026-04-15.
**Q16.** No. E14 was BBB+ on 2025-01-01 and is BBB+ now; A35 and A33 were a watch and an affirmation.
**Q17.** No. E06 has only a Rating Watch action (A17, 2026-09-03), with no rating change.
**Q18.** 32 entities were on Rating Watch Negative, listed in the JSON.
**Q19.** 37 entities had a Negative outlook, listed in the JSON.
**Q20.** No. A19 withdrew E07's rating on 2026-05-12 for commercial reasons, which is not a default.
**Q21.** 35 entities, listed in the JSON, whose latest action is a withdrawal (WD) and who held a rating earlier.
**Q22.** Only E08. Its RD rating (A22) is the only default-grade rating in the data.
**Q23.** F2 (A04).
**Q24.** Yes. E01's issuer rating is BBB.
**Q25.** 66. Of the 106 instruments rated on 2026-10-01 (latest action not EX), 66 were investment grade.
**Q26.** A+ (A40).
**Q27.** A- (A42 on I06).
**Q28.** BBB+ (A38 on CV).
**Q29.** None. VD has only a Country Ceiling (A12), no issuer rating.
**Q30.** 8 entities: E15, E1039 and E1194 sit at the CV ceiling of A, and E05, E1028, E1236, E1126 and E1101 sit at the VD ceiling of BB.
**Q31.** No. Every CV entity is at or below A and every VD entity is at or below BB.
**Q32.** E09. E11's parent is E10, whose parent is E09.
**Q33.** A holder takes the credit risk of E10, the guarantor of I05, which is rated BBB+ after A27.
**Q34.** No. E12 has no parent and no link to E09 or E10; the shared name is only a coincidence.
**Q35.** 3: E09, E10 and E11. E17 is a duplicate record of E10.
**Q36.** 2: E02 and E04. E03 is a duplicate of E02.
**Q37.** 344. This is the number of distinct LEIs, with the two sovereigns without an LEI counted by their own ID.
**Q38.** No. Their LEIs differ (E06 vs E13).
**Q39.** A. E02 was rated A (A08) and E03 affirmed A (A09).
**Q40.** 74. Counted as in Q9, restricted to LEI-deduplicated entities whose country is GB.
**Q41.** BB+ (A44).
**Q42.** DE. E10 is domiciled in DE; the LU in E17 is a conflicting RESEARCH duplicate with the same LEI.
**Q43.** 0. The only LU record, E17, is a duplicate of the DE entity E10.
**Q44.** Yes. I07 is denominated in XVD, which I take to be Valdoria's currency.
**Q45.** No. The Country Ceiling (BB, A12) limits foreign-currency ratings, and I07 is local-currency, so its BBB- (A45) is not constrained by it.
**Q46.** No. E11 has only a CO record (A46), not a long-term issuer rating.
**Q47.** None. I08 has only an EX action (A47, 2026-09-01), which looks like an expiry or exchange, so I read it as no longer rated. That reading is an assumption about EX.
**Q48.** 106. These are instruments whose latest action on or before 2026-10-01 was not an EX.
```json
{
"Q1":{"rating":"A-"},
"Q2":{"downgraded":"no"},
"Q3":{"investment_grade":"no","rating":"BB+"},
"Q4":{"outlook":"POS"},
"Q5":{"risk_of":"E02","rating":"A"},
"Q7":{"issuers":["E1151","E1350","E1294","E1341","E1167","E1058","E1285","E1290","E16","E1340","E1346","E1344","E1169","E1112","E08","E1348","E1186","E1342","E10","E1351","E1160","E1144","E1053","E1057","E1243","E1159","E1080","E1034","E1347","E1051","E1093","E1064","E1343","E1263","E1345","E1349","E1307","E1229","E1228","E1298","E1255","E1213","E1163","E1300"]},
"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":["E1133","E06","E1061","E1013","E1238","E1297","E1266","E1039","E1059","E1194","E1088","E1203","E1314","E1146","E1323","E1066","E1098","E1126","E1019","E1264","E1006","E1317","E1037","E1209","E1242","E1168","E1109","E1260","E1132","E1099","E1181","E1267"]},
"Q19":{"issuers":["E1350","E1055","E1294","E1188","E1248","E1034","E1347","E1271","E1261","E1118","E1064","E01","E1343","E1345","E1228","E1263","E1029","E1342","E1351","E1160","E09","E1211","E1080","E1005","E1340","E1056","E1059","E1282","E1105","E1344","E1158","E1046","E1348","E1072","E1190","E1079","E1300"]},
"Q20":{"in_default":"no"},
"Q21":{"entities":["E1057","E1308","E1007","E1032","E1155","E1159","E1253","E1107","E1140","E1138","E1063","E1041","E1218","E1316","E1244","E1121","E1205","E1021","E1166","E07","E1084","E1048","E1277","E1225","E1234","E1233","E1200","E1001","E1172","E1124","E1206","E1219","E1320","E1076","E1062"]},
"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":["E15","E1039","E1194","E05","E1028","E1236","E1126","E1101"]},
"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}
}
```