Q10, run 2026-11-05-2135-haiku

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Is Valdoria Telecom investment grade?

Tests: Ambiguity: 'the rating' of a company is several ratings; the investment-grade line is BBB-.

Expected: investment_grade = depends

✅ R1 csv run 1 graded by code

Depends
The LC rating is BBB- (A13), which is investment grade, but the FC rating is BB (A14), which is not.

JSON: {"investment_grade": "depends"}

✅ R1 csv run 2 graded by code

Depends on currency. Valdoria Telecom (E05) is BBB- local currency (A13), which is investment grade, and BB foreign currency (A14), which is not.

JSON: {"investment_grade": "depends"}

✅ R1 csv run 3 graded by code

Depends. Valdoria Telecom's local-currency rating is BBB- (A13, investment grade), but its foreign-currency rating is BB (A14, not investment grade).

JSON: {"investment_grade": "depends"}

✅ R1 csv run 4 graded by code

Depends. The FC issuer rating is BB (A14, not investment grade), but the LC rating is BBB- (A13, investment grade).

JSON: {"investment_grade": "depends"}

✅ R1 csv run 5 graded by code

Depends on currency. Valdoria's LC rating is BBB- (investment grade, A13) and its FC rating is BB (not investment grade, A14).

JSON: {"investment_grade": "depends"}

✅ R2 rdf run 1 graded by code

Depends. Local-currency BBB- (A13) is investment grade, while foreign-currency BB (A14) is not.

JSON: {"investment_grade": "depends"}

✅ R2 rdf run 2 graded by code

Depends. The local-currency rating is BBB- (A13), which is investment grade, while the foreign-currency rating is BB (A14), which is not.

JSON: {"investment_grade": "depends"}

✅ R2 rdf run 3 graded by code

Depends. The local-currency issuer rating is BBB- (investment grade, A13), but the foreign-currency rating is BB (not investment grade, A14).

JSON: {"investment_grade": "depends"}

✅ R2 rdf run 4 graded by code

Depends on currency. Valdoria Telecom (E05) has LC BBB- (investment grade, A13) and FC BB (not investment grade, A14).

JSON: {"investment_grade": "depends"}

✅ R2 rdf run 5 graded by code

Depends. E05's local-currency rating is BBB- (A13, investment grade), but its foreign-currency rating is BB (A14, not investment grade).

JSON: {"investment_grade": "depends"}

✅ R6 rdf+ontology run 1 graded by code

Depends.
E05's LC rating is BBB- (A13, investment grade), while its FC rating is BB (A14, speculative).

JSON: {"investment_grade": "depends"}

✅ R6 rdf+ontology run 2 graded by code

Depends. The FC rating is BB (A14), which is speculative grade, while the LC rating is BBB- (A13), which is investment grade.

JSON: {"investment_grade": "depends"}

❌ R6 rdf+ontology run 3 graded by code

No. The headline FC rating is BB (A14); the BBB- LC rating (A13) is not the headline.

JSON: {"investment_grade": "no"}

Why: investment_grade: expected depends, got no

✅ R6 rdf+ontology run 4 graded by code

Depends. The FC rating is BB (A14), speculative, but the LC rating is BBB- (A13), investment grade.

JSON: {"investment_grade": "depends"}

❌ R6 rdf+ontology run 5 graded by code

No
The headline FC rating is BB (A14), which is speculative grade; the LC rating BBB- (A13) is investment grade.

JSON: {"investment_grade": "no"}

Why: investment_grade: expected depends, got no

❌ R5 csv+ontology run 1 graded by code

No. E05's headline FC rating is BB (A14); its LC rating is BBB- (A13), which is investment grade but not the headline.

JSON: {"investment_grade": "no"}

Why: investment_grade: expected depends, got no

❌ R5 csv+ontology run 2 graded by code

No. The headline FC rating is BB (A14); the LC BBB- (A13) is secondary.

JSON: {"investment_grade": "no"}

Why: investment_grade: expected depends, got no

❌ R5 csv+ontology run 3 graded by code

(no answer found)

JSON: {"investment_grade": "no"}

Why: investment_grade: expected depends, got no

❌ R5 csv+ontology run 4 graded by code

No. The FC issuer rating is BB (A14); the LC rating of BBB- (A13) does not change that.

JSON: {"investment_grade": "no"}

Why: investment_grade: expected depends, got no

❌ R5 csv+ontology run 5 graded by code

No. The headline FC rating is BB (A14). The LC rating of BBB- (A13) is investment grade, but it is not the headline.

JSON: {"investment_grade": "no"}

Why: investment_grade: expected depends, got no

❌ R4 csv+markdown run 1 graded by code

No. The headline FC rating is BB (A14); the LC rating BBB- (A13) is not the headline.

JSON: {"investment_grade": "no"}

Why: investment_grade: expected depends, got no

❌ R4 csv+markdown run 2 graded by code

No. Its headline FC rating is BB (A14). Its LC rating is BBB- (A13), which is investment grade but local-currency only.

JSON: {"investment_grade": "no"}

Why: investment_grade: expected depends, got no

❌ R4 csv+markdown run 3 graded by code

No. The headline FC rating is BB (A14); only the LC rating (BBB-) is investment grade.

JSON: {"investment_grade": "no"}

Why: investment_grade: expected depends, got no

❌ R4 csv+markdown run 4 graded by code

No. Valdoria Telecom's headline FC rating is BB (A14); its LC BBB- is investment grade but is not the headline.

JSON: {"investment_grade": "no"}

Why: investment_grade: expected depends, got no

❌ R4 csv+markdown run 5 graded by code

No. Valdoria Telecom's headline FC rating is BB (A14). Its LC rating is BBB- (A13), which is investment grade, but LC is a separate rating type and not the headline.

JSON: {"investment_grade": "no"}

Why: investment_grade: expected depends, got no

✅ R3 csv+padding run 1 graded by code

Depends. The LC rating BBB- (A13) is investment grade; the FC rating BB (A14) is not.

JSON: {"investment_grade": "depends"}

✅ R3 csv+padding run 2 graded by code

Depends. The local-currency issuer rating is BBB- (A13), which is investment grade, but the foreign-currency rating is BB (A14), which is not.

JSON: {"investment_grade": "depends"}

✅ R3 csv+padding run 3 graded by code

Depends. The local-currency rating is BBB- (investment grade, A13), while the foreign-currency rating is BB (not investment grade, A14).

JSON: {"investment_grade": "depends"}

✅ R3 csv+padding run 4 graded by code

Depends on currency. The LC rating is BBB- (A13), which is investment grade, but the FC rating is BB (A14), which is not.

JSON: {"investment_grade": "depends"}

✅ R3 csv+padding run 5 graded by code

Depends. Local-currency rating is BBB- (A13, investment grade), while foreign-currency rating is BB (A14, not investment grade).

JSON: {"investment_grade": "depends"}

✅ R10 executed run 1 graded by code

Depends. E05's FC rating is BB (not investment grade) and its LC rating is BBB- (investment grade).

JSON: {"investment_grade": "depends"}

✅ R10 executed run 2 graded by code

Depends. FC rating is BB (not IG, E05 A-row) but LC rating BBB- (IG).

JSON: {"investment_grade": "depends"}

✅ R10 executed run 3 graded by code

Depends. E05's FC rating is BB (not IG, A14), but its LC rating is BBB- (IG, A13).

JSON: {"investment_grade": "depends"}

✅ R10 executed run 4 graded by code

Depends. Valdoria Telecom's LC rating is BBB- (investment grade), but its FC rating is BB (not), so the answer depends on the currency basis.

JSON: {"investment_grade": "depends"}

✅ R10 executed run 5 graded by code

Depends. E05's FC rating is BB, which is not investment grade, while its LC rating is BBB-, which is.

JSON: {"investment_grade": "depends"}

✅ R7 csv+neutral run 1 graded by code

Depends. The LC rating (BBB-, A13) is investment grade, but the FC rating (BB, A14) is not.

JSON: {"investment_grade": "depends"}

✅ R7 csv+neutral run 2 graded by code

Depends. The FC rating is BB, which is speculative grade (A14), but the LC rating is BBB- (A13), which is investment grade.

JSON: {"investment_grade": "depends"}

✅ R7 csv+neutral run 3 graded by code

Depends. FC is BB (A14, speculative grade); LC is BBB- (A13, investment grade).

JSON: {"investment_grade": "depends"}

✅ R7 csv+neutral run 4 graded by code

Depends on currency basis. The LC rating is BBB- (A13, investment grade) and the FC rating is BB (A14, speculative).

JSON: {"investment_grade": "depends"}

✅ R7 csv+neutral run 5 graded by code

Depends. Its FC rating is BB (A14, not investment grade), but its LC rating is BBB- (A13, investment grade).

JSON: {"investment_grade": "depends"}

✅ R8 csv+axioms run 1 graded by code

Depends. The local-currency LTIDR is BBB- (A13, investment grade), but the foreign-currency LTIDR is BB (A14, not investment grade).

JSON: {"investment_grade": "depends"}

✅ R8 csv+axioms run 2 graded by code

Depends. The local-currency rating (LC, BBB-, A13) is investment grade, while the foreign-currency rating (FC, BB, A14) is not.

JSON: {"investment_grade": "depends"}

✅ R8 csv+axioms run 3 graded by code

Depends. The FC rating is BB (A14, not investment grade), while the LC rating is BBB- (A13, investment grade).

JSON: {"investment_grade": "depends"}

✅ R8 csv+axioms run 4 graded by code

Depends on the basis. The FC rating is BB (A14, not IG), but the LC rating is BBB- (A13, IG).

JSON: {"investment_grade": "depends"}

✅ R8 csv+axioms run 5 graded by code

Depends on currency. LC rating is BBB- (investment grade, A13), but the FC rating is BB (non-investment grade, A14).

JSON: {"investment_grade": "depends"}

❌ R9 csv+axioms+markdown run 1 graded by code

No. Valdoria Telecom's headline FC rating is BB (A14). Its LC rating of BBB- (A13) would be investment grade, so the answer depends on which basis you mean.

JSON: {"investment_grade": "no"}

Why: investment_grade: expected depends, got no

❌ R9 csv+axioms+markdown run 2 graded by code

No.
The headline FC rating is BB (A14); the LC rating BBB- (A13) is not the headline.

JSON: {"investment_grade": "no"}

Why: investment_grade: expected depends, got no

❌ R9 csv+axioms+markdown run 3 graded by code

No. The headline FC rating is BB (A14). The LC rating of BBB- (A13) is investment grade but is not the headline.

JSON: {"investment_grade": "no"}

Why: investment_grade: expected depends, got no

✅ R9 csv+axioms+markdown run 4 graded by code

Depends. Valdoria Telecom's FC rating is BB (A14, speculative grade), but its LC rating is BBB- (A13, investment grade).

JSON: {"investment_grade": "depends"}

❌ R9 csv+axioms+markdown run 5 graded by code

No. The headline FC rating is BB (A14), so it is not investment grade. Its LC rating is BBB- (A13), which is investment grade but is not the headline.

JSON: {"investment_grade": "no"}

Why: investment_grade: expected depends, got no