D1 sql, run 5: the query session

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17 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.

```sql
SELECT * FROM entities ORDER BY entity_id;
```
```sql
SELECT * FROM instruments ORDER BY instrument_id;
```
```sql
SELECT rating_type, ccy_basis, action, watch, outlook, count(*) FROM rating_actions GROUP BY ALL ORDER BY ALL;
```
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:

| 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)

Query 3:

| rating_type | ccy_basis | action | watch | outlook | 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 |

Run more queries, or give the final answers.
The model 
<invoke name="sql">
</invoke>
```sql
SELECT * FROM entities WHERE entity_id NOT LIKE 'E1%' OR length(entity_id)<=3 ORDER BY entity_id;
```
```sql
SELECT * FROM instruments WHERE instrument_id NOT LIKE 'I1%' OR issuer_id NOT LIKE 'E1%' ORDER BY instrument_id;
```
```sql
SELECT * FROM rating_actions WHERE rated_id IN ('E01','E02','E03','E04','E05','E06','E07','E08','E09','E10','E11','E12','E13','E14','E15','E16','CV','VD','I01','I02','I03','I04','I05','I06','I07','I08') ORDER BY rated_id, date;
```
```sql
SELECT DISTINCT comment FROM rating_actions WHERE comment IS NOT NULL AND comment<>'' LIMIT 80;
```
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:

| 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 |

Query 3:

| 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 4:

| comment |
|---|
| commercial reasons |
| weaker cash flow after asset sale |
| support from parent |
| distressed debt exchange completed |

Run more queries, or give the final answers.
The model 
<sql>
</sql>
```sql
SELECT * FROM rating_actions WHERE rating_type IN ('CC','CO') OR date>'2026-10-01' OR rated_id NOT IN (SELECT entity_id FROM entities UNION SELECT instrument_id FROM instruments) ORDER BY date;
```
```sql
SELECT lei, count(*), string_agg(entity_id||':'||country||':'||source_system, ', ') FROM entities GROUP BY lei HAVING count(*)>1 ORDER BY lei;
```
```sql
SELECT count(*), count(DISTINCT lei), count(*) FILTER (WHERE lei IS NULL OR lei=''), count(*) FILTER (WHERE country='LU'), count(DISTINCT lei) FILTER (WHERE country='LU') FROM entities;
```
```sql
WITH l AS (SELECT *, row_number() OVER (PARTITION BY rated_id, ccy_basis ORDER BY date DESC, action_id DESC) rn FROM rating_actions WHERE rating_type='LTIDR' AND date<='2026-10-01')
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 (rating NOT IN ('WD') ) AND (outlook='NEG' OR watch='RWN' OR rating IN ('RD','D') OR e.country IN ('GB','CV','VD') OR e.entity_id IN ('E10','E17','E11')) ORDER BY e.country, rated_id;
```
```sql
WITH l AS (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')
SELECT rated_id, date, action, rating FROM l WHERE rn=1 AND (action IN ('EX','AF') OR rated_id LIKE 'I0%' OR rating NOT SIMILAR TO '(AAA|AA|A|BBB)[+-]?') ORDER BY rated_id;
```
Query results 
Query 1:

| action_id | date | rated_id | rating_type | ccy_basis | action | rating | outlook | watch | comment |
|---|---|---|---|---|---|---|---|---|---|
| A37 | 2024-01-01 | CV | CC |  | AS | A |  |  |  |
| A1708 | 2024-08-17 | E1333 | CO |  | AS | BBB+ |  |  |  |
| A46 | 2025-02-01 | E11 | CO |  | AS | BBB |  |  |  |
| A12 | 2025-04-01 | VD | CC |  | AS | BB |  |  |  |
| A1700 | 2025-06-13 | E1327 | CO |  | AS | BBB- |  |  |  |
| A1704 | 2025-06-27 | E1330 | CO |  | AS | BB+ |  |  |  |
| A1715 | 2026-07-04 | E1338 | CO |  | AS | BBB+ |  |  |  |
| A1698 | 2026-09-02 | E1326 | CO |  | AS | BB |  |  |  |
| A1736 | 2026-10-14 | E1349 | LTIDR | FC | DG | A- | NEG |  |  |
| A1730 | 2026-10-15 | E1346 | LTIDR | FC | DG | BBB+ | NEG |  |  |
| A1720 | 2026-11-09 | E1341 | LTIDR | FC | DG | BBB+ | NEG |  |  |
| A1029 | 2026-11-11 | I1007 | INST |  | EX | AA- |  |  |  |
| A1713 | 2026-11-16 | E1337 | CO |  | AS | BBB+ |  |  |  |
| A1011 | 2026-11-17 | I1001 | INST |  | EX | A+ |  |  |  |
| A1078 | 2026-12-17 | I1015 | INST |  | EX | B+ |  |  |  |

Query 2:

| lei | count_star() | string_agg(((((entity_id || ':') || country) || ':') || source_system), ', ') |
|---|---|---|
| 213800PHEIYNJMHTDV74 | 2 | E02:GB:RATINGS, E03:GB:RESEARCH |
| 3912003R00FP6CNV6210 | 2 | E1001:FR:RATINGS, E1002:FR:RESEARCH |
| 391200E9TAHDZV7CY568 | 2 | E1147:FR:RATINGS, E1148:FR:RESEARCH |
| 391200JN4T4KY2HCRU75 | 2 | E1116:GB:RATINGS, E1117:GB:RESEARCH |
| 391200KLG6G4KVIMIU52 | 2 | E1021:GB:RATINGS, E1022:GB:RESEARCH |
| 391200QYPVFF2O9K2039 | 2 | E10:DE:RATINGS, E17:LU:RESEARCH |
| 391200USHZVHBK9FHP01 | 2 | E1179:ES:RATINGS, E1180:IT:RESEARCH |
| 5493004IM0PRT8BSDK29 | 2 | E1238:GR:RATINGS, E1239:GR:RESEARCH |
| 549300A64I73OEIC4R87 | 2 | E1213:FR:RATINGS, E1214:NL:RESEARCH |
| 549300CRXZL5I1OT6L14 | 2 | E1059:CV:RATINGS, E1060:CV:RESEARCH |
| 549300E50JHDJNBUGF22 | 2 | E1152:GB:RATINGS, E1153:GB:RESEARCH |
| 549300H1N0EQEAZLE362 | 2 | E1261:ES:RATINGS, E1262:ES:RESEARCH |
| 549300HWTXXHJP2HKU38 | 2 | E1209:IT:RATINGS, E1210:DE:RESEARCH |
| 549300NTCTGRKRYIAN83 | 2 | E1096:CV:RATINGS, E1097:CV:RESEARCH |
| 549300XV49ES64RGNQ00 | 2 | E1169:GB:RATINGS, E1170:GB:RESEARCH |
| 724500BSV4X2J7KUR535 | 2 | E1138:NL:RATINGS, E1139:NL:RESEARCH |
| 724500UQKUINIUB80J18 | 2 | E1318:GB:RATINGS, E1319:GB:RESEARCH |
| 724500YEJSJ19G17TW94 | 2 | E1258:FR:RATINGS, E1259:FR:RESEARCH |
| 8156008DPX4I9DNKWN26 | 2 | E1029:US:RATINGS, E1030:US:RESEARCH |
| 815600HDI8Y3IWGOOH22 | 2 | E1103:US:RATINGS, E1104:US:RESEARCH |
| 815600LRX1P8142NMF42 | 2 | E1245:CV:RATINGS, E1246:FR:RESEARCH |
| 815600RCZP0ISY44E024 | 2 | E1298:ES:RATINGS, E1299:ES:RESEARCH |
| 9695000PSF2HLPO9AE57 | 2 | E1310:IT:RATINGS, E1311:IT:RESEARCH |
| 969500KYKHRI6N2WRN19 | 2 | E1156:DE:RATINGS, E1157:US:RESEARCH |
| 969500PM41NS2PBZU440 | 2 | E1160:FR:RATINGS, E1161:FR:RESEARCH |
| 969500QXEZ0NSV6EIW69 | 2 | E1253:ES:RATINGS, E1254:ES:RESEARCH |
|  | 2 | VD:VD:RATINGS, CV:CV:RATINGS |

Query 3:

| count_star() | count(DISTINCT lei) | count_star() FILTER (WHERE ((lei IS NULL) OR (lei = ''))) | count_star() FILTER (WHERE (country = 'LU')) | count(DISTINCT lei) FILTER (WHERE (country = 'LU')) |
|---|---|---|---|---|
| 370 | 342 | 2 | 1 | 1 |

Query 4:

| rated_id | lei | country | source_system | ccy_basis | date | action | rating | outlook | watch |
|---|---|---|---|---|---|---|---|---|---|
| CV |  | CV | RATINGS | LC | 2024-01-01 | AS | A- | STA |  |
| CV |  | CV | RATINGS | FC | 2024-01-01 | AS | BBB+ | STA |  |
| E1019 | 391200GSFO0F68KKUC67 | CV | RATINGS | LC | 2024-03-20 | RW | BBB- |  | RWN |
| E1019 | 391200GSFO0F68KKUC67 | CV | RATINGS | FC | 2022-12-11 | AS | BB+ | STA |  |
| E1039 | 969500HA9D5I7F73PW83 | CV | RATINGS | LC | 2025-11-22 | AS | AA- | STA |  |
| E1039 | 969500HA9D5I7F73PW83 | CV | RATINGS | FC | 2025-12-09 | RW | A |  | RWN |
| E1059 | 549300CRXZL5I1OT6L14 | CV | RATINGS | LC | 2026-02-23 | RW | BB- |  | RWN |
| E1060 | 549300CRXZL5I1OT6L14 | CV | RESEARCH | FC | 2025-02-16 | AF | BB- | NEG |  |
| E1071 | 213800CG5LUFZKTQXL65 | CV | RATINGS | FC | 2023-01-11 | AS | B+ | STA |  |
| E1096 | 549300NTCTGRKRYIAN83 | CV | RATINGS | LC | 2025-02-17 | AF | BBB+ | POS |  |
| E1096 | 549300NTCTGRKRYIAN83 | CV | RATINGS | FC | 2024-04-04 | AS | BBB | STA |  |
| E1136 | 391200C93222W97BIT34 | CV | RATINGS | FC | 2023-07-04 | AS | A- | STA |  |
| E1144 | 213800QV7J1EXLC4YX51 | CV | RATINGS | FC | 2026-06-06 | DG | B+ | POS |  |
| E1144 | 213800QV7J1EXLC4YX51 | CV | RATINGS | LC | 2024-07-19 | UG | BB- | POS |  |
| E1185 | 724500H78R8WU6K0T524 | CV | RATINGS | FC | 2025-02-28 | AS | BB+ | STA |  |
| E1194 | 815600GVTRTKVHG8BO41 | CV | RATINGS | LC | 2024-03-23 | AS | A | STA |  |
| E1194 | 815600GVTRTKVHG8BO41 | CV | RATINGS | FC | 2025-01-20 | RW | A |  | RWN |
| E1217 | 815600AJPH2BBLTIYW38 | CV | RATINGS | FC | 2025-09-07 | AS | BB- | STA |  |
| E1223 | 549300DESCLQXTLMLJ26 | CV | RATINGS | FC | 2023-08-20 | AS | BB+ | STA |  |
| E1229 | 549300GJM0MMFEH84V77 | CV | RATINGS | LC | 2025-09-16 | AF | BBB- | STA |  |
| E1229 | 549300GJM0MMFEH84V77 | CV | RATINGS | FC | 2026-06-02 | DG | BB+ | STA |  |
| E1243 | 2138008SWUJK7JUSMR14 | CV | RATINGS | FC | 2026-08-19 | AF | BB | STA |  |
| E1243 | 2138008SWUJK7JUSMR14 | CV | RATINGS | LC | 2026-01-15 | AF | BBB+ | STA |  |
| E1245 | 815600LRX1P8142NMF42 | CV | RATINGS | LC | 2025-09-20 | DG | B | POS |  |
| E1245 | 815600LRX1P8142NMF42 | CV | RATINGS | FC | 2025-09-11 | UG | B+ | POS |  |
| E1283 | 724500B6N6CB70KO0R91 | CV | RATINGS | FC | 2024-11-03 | UG | BB | STA |  |
| E1283 | 724500B6N6CB70KO0R91 | CV | RATINGS | LC | 2024-06-19 | DG | B+ | STA |  |
| E1304 | 969500BPQVYYSLHHCK81 | CV | RATINGS | FC | 2026-07-25 | UG | BB | POS |  |
| E15 | 213800PBQVHVBBH6GV02 | CV | RATINGS | LC | 2024-03-01 | AS | A+ | STA |  |
| E15 | 213800PBQVHVBBH6GV02 | CV | RATINGS | FC | 2024-03-01 | AS | A | STA |  |
| E06 | 549300AMVE3VRVG7HK43 | DE | RATINGS | FC | 2026-09-03 | RW | A- |  | RWN |
| E10 | 391200QYPVFF2O9K2039 | DE | RATINGS | FC | 2026-04-15 | DG | BBB+ | STA |  |
| E1061 | 5493002BLV266QJVIH90 | DE | RATINGS | FC | 2025-06-06 | RW | A |  | RWN |
| E1118 | 969500ZM445IDEYHCL85 | DE | RATINGS | FC | 2025-07-14 | DG | BB+ | NEG |  |
| E1203 | 724500W08E6JP9P9NC97 | DE | RATINGS | FC | 2023-09-02 | RW | BBB+ |  | RWN |
| E1210 | 549300HWTXXHJP2HKU38 | DE | RESEARCH | FC | 2024-09-09 | RW | BB |  | RWN |
| E1271 | 213800M91M3NKSWT8K97 | DE | RATINGS | FC | 2025-10-15 | AF | A- | NEG |  |
| E1317 | 391200YYRT4OCYJBQT44 | DE | RATINGS | FC | 2024-09-11 | RW | BB |  | RWN |
| E1342 | 7245000RRKYSQSJ2DB31 | DE | QA | FC | 2026-07-17 | DG | BBB+ | NEG |  |
| E1348 | 724500JEL6C1PJZEDM26 | DE | QA | FC | 2026-03-18 | DG | BBB- | NEG |  |
| E1066 | 213800VQSNQ2434DKS91 | ES | RATINGS | FC | 2026-05-03 | RW | A- |  | RWN |
| E1158 | 9695008UP74QEOJ3KW74 | ES | RATINGS | FC | 2026-08-14 | AF | BBB | NEG |  |
| E1262 | 549300H1N0EQEAZLE362 | ES | RESEARCH | FC | 2024-10-13 | AF | B+ | NEG |  |
| E1037 | 391200OBAXI8590VQN12 | FR | RATINGS | FC | 2022-05-07 | RW | A |  | RWN |
| E1088 | 549300GS8TRRRJCSVZ45 | FR | RATINGS | FC | 2024-01-16 | RW | B+ |  | RWN |
| E1099 | 213800XQVJ5IKNNVXY16 | FR | RATINGS | FC | 2023-11-05 | RW | BB+ |  | RWN |
| E1161 | 969500PM41NS2PBZU440 | FR | RESEARCH | FC | 2026-07-28 | DG | B | NEG |  |
| E1267 | 8156006G7EEYC0O0U554 | FR | RATINGS | FC | 2023-12-15 | RW | A- |  | RWN |
| E01 | 7245002OOPBG04092E43 | GB | RATINGS | FC | 2026-02-10 | AF | BBB | NEG |  |
| E02 | 213800PHEIYNJMHTDV74 | GB | RATINGS | FC | 2023-11-01 | AS | A | STA |  |
| E03 | 213800PHEIYNJMHTDV74 | GB | RESEARCH | FC | 2025-09-15 | AF | A | POS |  |
| E09 | 815600ASM9EHDG931T89 | GB | RATINGS | FC | 2026-03-01 | AF | A | NEG |  |
| E1003 | 3912009W4J483WB8PZ97 | GB | RATINGS | FC | 2024-07-05 | AS | A | STA |  |
| E1008 | 213800RPNJ2OSQ387M40 | GB | RATINGS | FC | 2022-12-09 | AS | BBB- | STA |  |
| E1023 | 3912006FHXTH5V6WNK07 | GB | RATINGS | FC | 2023-03-24 | DG | BBB | STA |  |
| E1043 | 5493007IVTPIWJZLFF29 | GB | RATINGS | FC | 2022-11-19 | AS | BBB- | STA |  |
| E1047 | 391200WGA8OE30KZUD08 | GB | RATINGS | FC | 2025-11-25 | AS | BBB- | STA |  |
| E1049 | 391200R2EH7FELZFOV27 | GB | RATINGS | FC | 2022-04-18 | AS | BBB- | STA |  |
| E1055 | 724500WWWM8KJ2Q08398 | GB | RATINGS | FC | 2024-12-04 | UG | BBB- | NEG |  |
| E1070 | 213800HFIA87YIFJMK56 | GB | RATINGS | FC | 2025-10-12 | AS | A+ | STA |  |
(106 more rows not shown)

Query 5:

| rated_id | date | action | rating |
|---|---|---|---|
| I01 | 2025-06-20 | DG | BBB |
| I02 | 2025-06-20 | DG | BB+ |
| I03 | 2025-09-15 | AF | A |
| I04 | 2025-04-01 | AS | BB |
| I05 | 2026-04-15 | DG | BBB+ |
| I06 | 2024-03-01 | AS | A- |
| I07 | 2025-04-01 | AS | BBB- |
| I08 | 2026-09-01 | EX | A |
| I1002 | 2023-06-03 | AS | BB- |
| I1005 | 2024-11-09 | AS | BB |
| I1006 | 2022-06-02 | AS | B+ |
| I1008 | 2026-05-23 | EX | B+ |
| I1012 | 2026-07-22 | EX | A- |
| I1013 | 2025-12-06 | AS | BB+ |
| I1017 | 2022-12-22 | AS | BB |
| I1018 | 2022-04-18 | AS | BB+ |
| I1019 | 2025-09-02 | AS | BB+ |
| I1020 | 2024-03-25 | AS | BB+ |
| I1021 | 2026-09-18 | EX | AA- |
| I1022 | 2022-07-09 | AS | BB+ |
| I1023 | 2023-01-11 | AS | B |
| I1024 | 2022-05-09 | AS | BB |
| I1025 | 2022-02-01 | AS | BB+ |
| I1026 | 2022-06-05 | AS | BB+ |
| I1031 | 2022-07-14 | AS | B |
| I1032 | 2024-07-05 | AS | BB- |
| I1033 | 2024-12-05 | AS | B |
| I1035 | 2024-09-12 | AS | BB |
| I1041 | 2025-06-04 | AS | BB |
| I1044 | 2025-02-14 | AS | BB- |
| I1046 | 2026-05-18 | EX | B+ |
| I1048 | 2023-09-18 | AS | BB+ |
| I1049 | 2026-03-17 | EX | BB- |
| I1051 | 2023-09-26 | AS | B+ |
| I1059 | 2023-06-18 | AS | BB+ |
| I1065 | 2025-03-15 | AS | BB- |
| I1066 | 2025-10-10 | AS | BB+ |
| I1069 | 2023-09-17 | AS | BB- |
| I1070 | 2025-07-04 | AS | B+ |
| I1071 | 2024-02-01 | AS | B |
| I1075 | 2023-11-24 | AS | B+ |
| I1076 | 2023-09-28 | AS | BB+ |
| I1077 | 2022-12-12 | AS | B+ |
| I1081 | 2024-06-08 | AS | BB |
| I1082 | 2023-11-15 | AS | B+ |
| I1084 | 2023-02-08 | AS | BB+ |
| I1087 | 2022-04-20 | AS | B |
| I1090 | 2022-03-03 | AS | BB+ |
| I1091 | 2025-09-24 | AS | BB |
| I1092 | 2022-10-18 | AS | B |
| I1103 | 2024-01-20 | AS | BB+ |

Run more queries, or give the final answers.
The model 
```sql
WITH l AS (SELECT a.*, e.lei, e.country, e.source_system, e.entity_type, row_number() OVER (PARTITION BY rated_id, ccy_basis ORDER BY date DESC, action_id DESC) rn FROM rating_actions a JOIN entities e ON e.entity_id=a.rated_id WHERE rating_type='LTIDR' AND date<='2026-10-01')
SELECT 'DG2026' k, rated_id, lei, source_system, ccy_basis, date, rating, outlook FROM rating_actions a JOIN entities e ON e.entity_id=a.rated_id WHERE action='DG' AND date BETWEEN '2026-01-01' AND '2026-10-01' AND rating_type='LTIDR'
UNION ALL SELECT 'DEF', rated_id, lei, source_system, ccy_basis, date, rating, outlook FROM rating_actions a JOIN entities e ON e.entity_id=a.rated_id WHERE rating IN ('RD','D','C') 
UNION ALL SELECT 'RWN', rated_id, lei, source_system, ccy_basis, date, rating, outlook FROM l WHERE rn=1 AND watch='RWN'
UNION ALL SELECT 'NEG', rated_id, lei, source_system, ccy_basis, date, rating, outlook FROM l WHERE rn=1 AND outlook='NEG' AND ccy_basis='FC'
ORDER BY 1,2;
```
```sql
WITH l AS (SELECT a.*, row_number() OVER (PARTITION BY rated_id, ccy_basis ORDER BY date DESC, action_id DESC) rn FROM rating_actions a WHERE rating_type='LTIDR' AND date<='2026-10-01'),
cur AS (SELECT l.rated_id, e.lei, e.country, e.source_system, e.entity_type, bool_or(rating<>'WD') has FROM l JOIN entities e ON e.entity_id=l.rated_id WHERE rn=1 GROUP BY ALL),
ever AS (SELECT DISTINCT rated_id FROM rating_actions WHERE rating_type='LTIDR' AND rating<>'WD' AND date<='2026-10-01')
SELECT 'issuers_has' k, count(*), count(DISTINCT coalesce(lei,rated_id)) FROM cur WHERE has
UNION ALL SELECT 'GB_has', count(*), count(DISTINCT lei) FROM cur WHERE has AND country='GB'
UNION ALL SELECT 'GB_has_ratings_only', count(*), count(DISTINCT lei) FROM cur WHERE has AND country='GB' AND source_system='RATINGS'
UNION ALL SELECT 'lost:'||string_agg(rated_id,','), count(*), 0 FROM cur WHERE NOT has;
```
```sql
WITH l AS (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')
SELECT count(*) total, count(*) FILTER (WHERE action<>'EX') active, count(*) FILTER (WHERE action<>'EX' AND rating SIMILAR TO '(AAA|AA|A|BBB)[+-]?') ig_active, count(*) FILTER (WHERE rating SIMILAR TO '(AAA|AA|A|BBB)[+-]?') ig_all FROM l WHERE rn=1;
```
```sql
SELECT 'FCcur' k, e.entity_id, e.country, a.rating, a.date FROM entities e JOIN rating_actions a ON a.rated_id=e.entity_id WHERE e.country IN ('CV','VD') AND e.entity_type='SOV';
SELECT * FROM rating_actions WHERE rated_id IN ('CV','VD') ORDER BY rated_id,date;
```
Query results 
Query 1:

| k | rated_id | lei | source_system | ccy_basis | date | rating | outlook |
|---|---|---|---|---|---|---|---|
| DEF | E08 | 969500KOTZ1JFIZSG796 | RATINGS | FC | 2026-07-08 | RD |  |
| DG2026 | E08 | 969500KOTZ1JFIZSG796 | RATINGS | FC | 2026-07-08 | RD |  |
| DG2026 | E08 | 969500KOTZ1JFIZSG796 | RATINGS | FC | 2026-01-20 | CCC |  |
| DG2026 | E10 | 391200QYPVFF2O9K2039 | RATINGS | FC | 2026-04-15 | BBB+ | STA |
| DG2026 | E1034 | 815600KLV84WAQGPSX27 | RATINGS | FC | 2026-05-02 | BBB+ | NEG |
| DG2026 | E1051 | 724500WO4TZY2027IZ62 | RATINGS | FC | 2026-06-01 | A+ | POS |
| DG2026 | E1051 | 724500WO4TZY2027IZ62 | RATINGS | FC | 2026-04-05 | A+ | NEG |
| DG2026 | E1053 | 5493001E7O9QDD98PV36 | RATINGS | FC | 2026-03-20 | BB | NEG |
| DG2026 | E1057 | 2138009BPHEDKSZHFF68 | RATINGS | FC | 2026-06-25 | BB | STA |
| DG2026 | E1058 | 969500Y1Y66M1421WE10 | RATINGS | FC | 2026-07-14 | BBB- | POS |
| DG2026 | E1064 | 213800YPXA4OJXD8EB91 | RATINGS | FC | 2026-03-04 | BBB+ | STA |
| DG2026 | E1080 | 815600SERWD64UWU8808 | RATINGS | FC | 2026-02-14 | A- | NEG |
| DG2026 | E1093 | 969500IYLWO8RRIOIL83 | RATINGS | FC | 2026-07-25 | B | STA |
| DG2026 | E1112 | 969500QJ1AV6AZJSB088 | RATINGS | FC | 2026-02-20 | BBB | POS |
| DG2026 | E1144 | 213800QV7J1EXLC4YX51 | RATINGS | FC | 2026-06-06 | B+ | POS |
| DG2026 | E1151 | 549300XHVH0VBXX4D156 | RATINGS | FC | 2026-01-26 | BBB | POS |
| DG2026 | E1159 | 213800VMJXKPLM9ZIL74 | RATINGS | FC | 2026-06-16 | BBB+ | POS |
| DG2026 | E1161 | 969500PM41NS2PBZU440 | RESEARCH | FC | 2026-07-28 | B | NEG |
| DG2026 | E1163 | 549300SBMAQCEKT3IC98 | RATINGS | FC | 2026-03-19 | BB+ | POS |
| DG2026 | E1167 | 5493000NGCMTDC4BZ653 | RATINGS | FC | 2026-09-07 | BB | STA |
| DG2026 | E1170 | 549300XV49ES64RGNQ00 | RESEARCH | FC | 2026-08-16 | BB- | STA |
| DG2026 | E1186 | 549300OCOVKZOF4FO259 | RATINGS | FC | 2026-01-04 | BBB+ | STA |
| DG2026 | E1213 | 549300A64I73OEIC4R87 | RATINGS | FC | 2026-02-13 | A- | STA |
| DG2026 | E1213 | 549300A64I73OEIC4R87 | RATINGS | FC | 2026-06-16 | BBB+ | POS |
| DG2026 | E1228 | 724500JFK718P3DNW233 | RATINGS | FC | 2026-06-28 | BB+ | NEG |
| DG2026 | E1229 | 549300GJM0MMFEH84V77 | RATINGS | FC | 2026-06-02 | BB+ | STA |
| DG2026 | E1229 | 549300GJM0MMFEH84V77 | RATINGS | FC | 2026-05-06 | BB | STA |
| DG2026 | E1243 | 2138008SWUJK7JUSMR14 | RATINGS | FC | 2026-01-13 | BB | STA |
| DG2026 | E1255 | 7245002EC45UEUXQJA30 | RATINGS | FC | 2026-01-19 | BBB+ | STA |
| DG2026 | E1263 | 213800TWNH19JCPPPE80 | RATINGS | FC | 2026-03-03 | BBB | STA |
| DG2026 | E1263 | 213800TWNH19JCPPPE80 | RATINGS | FC | 2026-06-16 | BBB- | NEG |
| DG2026 | E1285 | 391200J1XGI3MNYV2584 | RATINGS | FC | 2026-02-17 | A | POS |
| DG2026 | E1290 | 5493005YGBG4Z7ZGH950 | RATINGS | FC | 2026-08-16 | B | POS |
| DG2026 | E1294 | 391200WPOJY9F1NTH725 | RATINGS | FC | 2026-07-11 | A+ | NEG |
| DG2026 | E1299 | 815600RCZP0ISY44E024 | RESEARCH | FC | 2026-02-06 | BBB | POS |
| DG2026 | E1300 | 391200Z1OH1HXMHTW971 | RATINGS | FC | 2026-05-06 | BBB | NEG |
| DG2026 | E1300 | 391200Z1OH1HXMHTW971 | RATINGS | FC | 2026-04-09 | BBB+ | STA |
| DG2026 | E1307 | 969500CNC5SOCN5K2N29 | RATINGS | FC | 2026-02-08 | BB- | POS |
| DG2026 | E1340 | 213800CSTQH7UO0A8E29 | QA | FC | 2026-06-26 | BBB+ | NEG |
| DG2026 | E1342 | 7245000RRKYSQSJ2DB31 | QA | FC | 2026-07-17 | BBB+ | NEG |
| DG2026 | E1343 | 969500F1DAQZF8FNJS41 | QA | FC | 2026-08-08 | BBB+ | NEG |
| DG2026 | E1344 | 724500N069ZCQGY1UI76 | QA | FC | 2026-03-18 | A- | NEG |
| DG2026 | E1345 | 391200T3GEO5X4SJMO02 | QA | FC | 2026-09-22 | BB- | NEG |
| DG2026 | E1347 | 724500649FYULZG25F44 | QA | FC | 2026-03-10 | BBB- | NEG |
| DG2026 | E1348 | 724500JEL6C1PJZEDM26 | QA | FC | 2026-03-18 | BBB- | NEG |
| DG2026 | E1350 | 213800GZMC02BI2WJX12 | QA | FC | 2026-09-03 | BB | NEG |
| DG2026 | E1351 | 969500MERFFSB2CHQE09 | QA | FC | 2026-09-27 | A- | NEG |
| DG2026 | E16 | 5493003Z3PXXR7KNFM81 | QA | FC | 2026-06-01 | BB+ | STA |
| NEG | E01 | 7245002OOPBG04092E43 | RATINGS | FC | 2026-02-10 | BBB | NEG |
| NEG | E09 | 815600ASM9EHDG931T89 | RATINGS | FC | 2026-03-01 | A | NEG |
| NEG | E1005 | 815600JRN7AOE36KFR35 | RATINGS | FC | 2025-08-02 | BB | NEG |
| NEG | E1029 | 8156008DPX4I9DNKWN26 | RATINGS | FC | 2025-08-08 | A- | NEG |
| NEG | E1034 | 815600KLV84WAQGPSX27 | RATINGS | FC | 2026-05-02 | BBB+ | NEG |
| NEG | E1046 | 549300ZM08IADSAK3L87 | RATINGS | FC | 2025-05-28 | AA- | NEG |
| NEG | E1055 | 724500WWWM8KJ2Q08398 | RATINGS | FC | 2024-12-04 | BBB- | NEG |
| NEG | E1056 | 969500DMA3PCFLMC4U98 | RATINGS | FC | 2023-01-01 | A+ | NEG |
| NEG | E1060 | 549300CRXZL5I1OT6L14 | RESEARCH | FC | 2025-02-16 | BB- | NEG |
| NEG | E1064 | 213800YPXA4OJXD8EB91 | RATINGS | FC | 2026-06-03 | A- | NEG |
| NEG | E1072 | 969500W1RDU3ZPX1YB94 | RATINGS | FC | 2026-02-07 | BB- | NEG |
| NEG | E1079 | 5493000MDIWO1KHI0272 | RATINGS | FC | 2024-01-26 | BB+ | NEG |
(57 more rows not shown)

Query 2:

| k | count_star() | count(DISTINCT COALESCE(lei, rated_id)) |
|---|---|---|
| issuers_has | 293 | 291 |
| GB_has | 75 | 74 |
| GB_has_ratings_only | 62 | 62 |
| lost:E1063,E1166,E1205,E1225,E1234,E1277,E1057,E1121,E1076,E1062,E1041,E1206,E1048,E1140,E1032,E1159,E1244,E1084,E07,E1002,E1007,E1124,E1138,E1200,E1218,E1233,E1021,E1107,E1308,E1320,E1155,E1172,E1219,E1254,E1316 | 35 | 0 |

Query 3:

| total | active | ig_active | ig_all |
|---|---|---|---|
| 112 | 106 | 66 | 69 |

Query 4:

| 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 |  |  |
| A12 | 2025-04-01 | VD | CC |  | AS | BB |  |  |  |

Run more queries, or give the final answers.
The model 
```sql
WITH c AS (SELECT entity_id, country, coalesce(min(entity_id) FILTER (WHERE source_system='RATINGS') OVER (PARTITION BY coalesce(lei,entity_id)), entity_id) canon FROM entities),
l AS (SELECT c.canon, c.country, a.*, row_number() OVER (PARTITION BY c.canon, a.ccy_basis ORDER BY a.date DESC, a.action_id DESC) rn FROM rating_actions a JOIN c ON c.entity_id=a.rated_id WHERE a.rating_type='LTIDR' AND a.date<='2026-10-01'),
cur AS (SELECT * FROM l WHERE rn=1)
SELECT 'RWN' k, string_agg(DISTINCT canon, ',') v FROM cur WHERE watch='RWN'
UNION ALL SELECT 'NEG', string_agg(DISTINCT canon, ',') FROM cur WHERE outlook='NEG' AND rating<>'WD'
UNION ALL SELECT 'LOST', string_agg(canon, ',') FROM (SELECT canon FROM l GROUP BY canon HAVING bool_or(rating<>'WD') AND NOT bool_or(rn=1 AND rating<>'WD'))
UNION ALL SELECT 'CEIL', string_agg(canon||':'||country||':'||ccy_basis||':'||rating||':'||coalesce(watch,''), ' | ') FROM cur WHERE country IN ('CV','VD') AND rating<>'WD';
```
Query results 
Query 1:

| k | v |
|---|---|
| RWN | E1133,E06,E1260,E1099,E1132,E1181,E1013,E1238,E1061,E1297,E1109,E1168,E1317,E1242,E1037,E1209,E1203,E1146,E1323,E1066,E1314,E1266,E1039,E1059,E1267,E1088,E1194,E1006,E1264,E1019,E1098,E1126 |
| NEG | E1348,E1046,E1190,E1072,E1350,E1294,E1055,E1105,E1344,E1158,E1079,E09,E1211,E1160,E1351,E1029,E1342,E1034,E1248,E1188,E1271,E1347,E1056,E1340,E1059,E1282,E1005,E1080,E1228,E1263,E1345,E1300,E1343,E1064,E01,E1261,E1118 |
| LOST | E1218,E1107,E1063,E1138,E1041,E1140,E1206,E1320,E1219,E1062,E1316,E1244,E1121,E1205,E1155,E1032,E1007,E1308,E1253,E1057,E1159,E1076,E1084,E1048,E1166,E07,E1021,E1277,E1225,E1233,E1234,E1200,E1172,E1001,E1124 |
| CEIL | E05:VD:LC:BBB-: | E1217:CV:FC:BB-: | E1019:CV:FC:BB+: | E1185:CV:FC:BB+: | E1307:VD:FC:BB-: | E1028:VD:FC:BB: | E1194:CV:FC:A:RWN | E1313:VD:FC:BB-: | E1245:CV:FC:B+: | CV:CV:LC:A-: | E1144:CV:FC:B+: | E1243:CV:LC:BBB+: | E1096:CV:FC:BBB: | E1283:CV:FC:BB: | E1096:CV:LC:BBB+: | E1283:CV:LC:B+: | E1229:CV:FC:BB+: | E1236:VD:FC:BB: | E15:CV:FC:A: | E1229:CV:LC:BBB-: | E15:CV:LC:A+: | CV:CV:FC:BBB+: | E1136:CV:FC:A-: | E1144:CV:LC:BB-: | E1243:CV:FC:BB: | E1039:CV:FC:A:RWN | E1059:CV:LC:BB-:RWN | E1101:VD:LC:BB+: | E1126:VD:LC:BBB-: | E1304:CV:FC:BB: | E1019:CV:LC:BBB-:RWN | E1279:VD:LC:BB: | E1028:VD:LC:BBB: | E1071:CV:FC:B+: | E1106:VD:FC:B+: | E1194:CV:LC:A: | E1313:VD:LC:BBB-: | E1245:CV:LC:B: | E1039:CV:LC:AA-: | E1059:CV:FC:BB-: | E1101:VD:FC:BB: | E1126:VD:FC:BB:RWN | E05:VD:FC:BB: | E1223:CV:FC:BB+: |

Run more queries, or give the final answers.
The model 
**Q1.** A-. Kestrel's FC issuer rating was A- from A01 (2024-03-12) and was cut to BBB only on 2025-06-20 (A02).

**Q2.** No. The only 2026 action, A03 (2026-02-10), is an affirmation at BBB with the outlook moved to Negative.

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

**Q4.** Positive. E03 shares E02's LEI, so it is the same entity, and its A09 (2025-09-15) is the latest action, with a Positive outlook.

**Q5.** E02, rated A. I03 is issued by E04 but guaranteed by E02, so the holder takes E02's risk (A10/A11 rate the note A too).

**Q6.** Not in the JSON. E05's FC rating is BB (A14) and its LC rating is BBB- (A13). The Valdoria country ceiling (A12) is BB, so the FC rating is capped at the ceiling, while LC is not.

**Q7.** 43 entities had a 2026 downgrade action, listed in the JSON. I counted dates up to today (2026-11-04). I excluded E1341, whose downgrade is dated 2026-11-09. I merged RESEARCH duplicates into their RATINGS entity, and I kept QA-sourced entities.

**Q8.** E08, which was rated RD from A22 (2026-07-08).

**Q9.** 291. This counts distinct LEIs with a non-withdrawn LTIDR on 2026-10-01.

**Q10.** Depends. E05 is BBB- in local currency (investment grade) but BB in foreign currency (not).

**Q11.** BBB+. A36 downgraded E14 from A- on 2024-09-30.

**Q12.** A-, from A34.

**Q13.** 1, which is A36.

**Q14.** None. E12's first rating, A30, is dated 2024-02-01.

**Q15.** A-. E10's downgrade, A27, was not until 2026-04-15.

**Q16.** No. E14 was BBB+ on 2025-01-01 and is still BBB+ (A35 put it on watch and A33 affirmed it).

**Q17.** No. E06's only 2026 action, A17, is a Rating Watch Negative placement at an unchanged A-.

**Q18.** 32 issuers were on Rating Watch Negative on 2026-10-01, listed in the JSON. This counts an entity if either its FC or LC rating was on watch.

**Q19.** 37 issuers had a Negative outlook on 2026-10-01, listed in the JSON. This uses each entity's latest rating action.

**Q20.** No. E07's rating was withdrawn (A19, "commercial reasons"), and it never had a default rating.

**Q21.** 35 entities, listed in the JSON, held an issuer rating at some point but had only a withdrawal as their latest action by 2026-10-01.

**Q22.** E08 only, via the RD rating in A22.

**Q23.** F2, from A04.

**Q24.** Yes. E01's issuer rating is BBB (A03).

**Q25.** 66 instruments. This counts those whose latest INST rating is BBB- or better and is not an expiry (EX).

**Q26.** A+, from A40.

**Q27.** A-, from A42 on the subordinated I06.

**Q28.** BBB+, from A38.

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

**Q30.** 8 entities. The CV ceiling is A, which E15, E1039 and E1194 sit at. The VD ceiling is BB, which E05, E1028, E1101, E1126 and E1236 sit at.

**Q31.** No. No CV entity's FC rating is above A, and no VD entity's is above BB.

**Q32.** E09. E11's parent is E10, and E10's parent is E09.

**Q33.** E10, rated BBB+. I05 is issued by E11 but guaranteed by E10 (A29 gives the note BBB+).

**Q34.** No. E12 has no parent link to E09 or E10.

**Q35.** 3: E09, E10 and E11. E17 is a RESEARCH duplicate of E10.

**Q36.** 2: E02 and E04. E03 is a duplicate of E02.

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

**Q38.** No. They have different LEIs and different countries (E06 is DE, E13 is US).

**Q39.** A. E02 and E03 are the same entity, and both A08 and A09 are at A.

**Q40.** 74. This is 75 GB entities with a non-withdrawn rating, counting LEI duplicates once.

**Q41.** BB+, from A44 (2026-06-01). E16 comes from the QA source.

**Q42.** DE. E10 is in the RATINGS system. E17 (LU) is a RESEARCH duplicate with the same LEI.

**Q43.** 0. The only LU record, E17, is the same entity as E10, which is domiciled in DE.

**Q44.** Yes. I07 is denominated in XVD, the Valdoria currency.

**Q45.** No. The ceiling applies to foreign-currency ratings, and I07 is a local-currency note rated BBB- (A45).

**Q46.** No. E11 has only a CO rating (A46, BBB) and no LTIDR.

**Q47.** None. I08's latest action is EX (A47, 2026-09-01) even though the note matures in 2034, so it has no current rating.

**Q48.** 106 instruments. This counts those whose latest INST action is not an expiry (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":["E08","E10","E1034","E1051","E1053","E1057","E1058","E1064","E1080","E1093","E1112","E1144","E1151","E1159","E1160","E1163","E1167","E1169","E1186","E1213","E1228","E1229","E1243","E1255","E1263","E1285","E1290","E1294","E1298","E1300","E1307","E16","E1340","E1342","E1343","E1344","E1345","E1346","E1347","E1348","E1349","E1350","E1351"]},
"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","E1260","E1099","E1132","E1181","E1013","E1238","E1061","E1297","E1109","E1168","E1317","E1242","E1037","E1209","E1203","E1146","E1323","E1066","E1314","E1266","E1039","E1059","E1267","E1088","E1194","E1006","E1264","E1019","E1098","E1126"]},
"Q19":{"issuers":["E1348","E1046","E1190","E1072","E1350","E1294","E1055","E1105","E1344","E1158","E1079","E09","E1211","E1160","E1351","E1029","E1342","E1034","E1248","E1188","E1271","E1347","E1056","E1340","E1059","E1282","E1005","E1080","E1228","E1263","E1345","E1300","E1343","E1064","E01","E1261","E1118"]},
"Q20":{"in_default":"no"},
"Q21":{"entities":["E1218","E1107","E1063","E1138","E1041","E1140","E1206","E1320","E1219","E1062","E1316","E1244","E1121","E1205","E1155","E1032","E1007","E1308","E1253","E1057","E1159","E1076","E1084","E1048","E1166","E07","E1021","E1277","E1225","E1233","E1234","E1200","E1172","E1001","E1124"]},
"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","E1101","E1126","E1236"]},
"Q31":{"any":"no"},
"Q32":{"parent":"E09"},
"Q33":{"risk_of":"E10","rating":"BBB+"},
"Q34":{"same_group":"no"},
"Q35":{"count":3},
"Q36":{"count":2},
"Q37":{"count":344},
"Q38":{"same":"no"},
"Q39":{"rating":"A"},
"Q40":{"count":74},
"Q41":{"rating":"BB+"},
"Q42":{"country":"DE"},
"Q43":{"count":0},
"Q44":{"local_currency":"yes"},
"Q45":{"above_ceiling":"no"},
"Q46":{"issuer_rating":"no"},
"Q47":{"rating":"none"},
"Q48":{"count":106}
}
```