Q25, run 2026-11-05-2135-haiku

How many instruments held an investment-grade rating on 1 October 2026?

Tests: Instrument ratings: counted on the instrument's own rating, not its issuer's.

Expected: count = 66

❌ R1 csv run 1 graded by code

69
Of the 112 instruments with a rating on 1 Oct 2026, 69 have a latest INST rating of BBB- or higher. This treats EX-action ratings (e.g., I08 A, I1012 A-) as current ratings.

JSON: {"count": 69}

Why: count: expected 66, got 69

✅ R1 csv run 2 graded by code

66. Of the 106 instruments with a live rating, 66 are investment grade (5 from I01–I07 and 61 from I1xxx).

JSON: {"count": 66}

❌ R1 csv run 3 graded by code

Not settled. Counting investment-grade instruments as of 2026-10-01 across 115 instruments needs a full pass I did not complete.

JSON: {"count": null}

Why: count: expected 66, got None

❌ R1 csv run 4 graded by code

Cannot be finalized by hand. Instruments confirmed as IG on 1 Oct 2026 include I01 (BBB), I03 (A), I05 (BBB+), I06 (A-), and I07 (BBB-), but the 1000-series instruments need checking. The EX action on I08 has an undefined meaning.

JSON: {"count": null}

Why: count: expected 66, got None

❌ R1 csv run 5 graded by code

Not reliably countable by hand; it needs a per-instrument tally of ratings as of 1 Oct 2026.

JSON: {"count": null}

Why: count: expected 66, got None

❌ R2 rdf run 1 graded by code

69 instruments were rated investment grade on 1 Oct 2026. This includes I1012 and I1021, whose EX action code is undefined, so 67 if those are excluded.

JSON: {"count": 69}

Why: count: expected 66, got 69

❌ R2 rdf run 2 graded by code

Cannot be settled reliably by hand. Counting instruments rated investment grade on 1 Oct 2026 requires checking over a hundred instruments.

JSON: {"count": null}

Why: count: expected 66, got None

❌ R2 rdf run 3 graded by code

Not determined. This requires a full pass over all instrument ratings; I did not complete the count.

JSON: {"count": null}

Why: count: expected 66, got None

❌ R2 rdf run 4 graded by code

Not determined. Counting investment-grade instruments as of 1 Oct 2026 requires a full pass over about 110 instruments, which I have not completed reliably. Also, EX-type ratings are of unclear meaning and affect the count.

JSON: {"count": null}

Why: count: expected 66, got None

❌ R2 rdf run 5 graded by code

69 instruments have a latest rating of BBB- or higher dated on or before 2026-10-01. This includes EX-coded ratings, whose meaning is undefined.

JSON: {"count": 69}

Why: count: expected 66, got 69

✅ R6 rdf+ontology run 1 graded by code

66.
This counts instruments whose latest rating on or before 2026-10-01 is investment grade (BBB- or higher). Instruments with only EX (Expected) actions are unrated.

JSON: {"count": 66}

✅ R6 rdf+ontology run 2 graded by code

66. This counts rated instruments whose latest rating is BBB- or higher on 1 Oct 2026. The tally was done by hand.

JSON: {"count": 66}

❌ R6 rdf+ontology run 3 graded by code

Not counted. This requires enumerating all instrument ratings as of 1 Oct 2026.

JSON: {"count": null}

Why: count: expected 66, got None

❌ R6 rdf+ontology run 4 graded by code

Not determined; this needs a full instrument-by-instrument scan.

JSON: {"count": null}

Why: count: expected 66, got None

✅ R6 rdf+ontology run 5 graded by code

66 (≈)
This counts instruments whose latest instrument rating is BBB- or higher on 1 Oct 2026; EX (expected) records are not ratings.

JSON: {"count": 66}

✅ R5 csv+ontology run 1 graded by code

66. I counted instruments whose latest rating on 2026-10-01 is BBB- or higher. This is hand-tallied.

JSON: {"count": 66}

✅ R5 csv+ontology run 2 graded by code

66. Of 115 instruments, 66 have a current rating of BBB- or higher on 1 Oct 2026. The 9 unrated instruments have only EX actions or no AS, such as I08 and I1007.

JSON: {"count": 66}

✅ R5 csv+ontology run 3 graded by code

66
Counted instruments whose latest recorded INST rating on 2026-10-01 is BBB- or higher. Ten guaranteed instruments (I1093 to I1100, I1104, I1105) have recorded ratings above their guarantor's issuer rating; in line with the guarantor the count would be 56. See notes.

JSON: {"count": 66}

✅ R5 csv+ontology run 4 graded by code

66. I counted instruments whose latest rating is BBB- or higher on 1 Oct 2026, and excluded EX-only instruments. This is a hand count and should be checked.

JSON: {"count": 66}

✅ R5 csv+ontology run 5 graded by code

66 instruments rated BBB- or higher on 1 Oct (hand tally).

JSON: {"count": 66}

✅ R4 csv+markdown run 1 graded by code

66. This counts instruments whose latest rating on 1 Oct 2026 is BBB- or higher. It is a hand trace.

JSON: {"count": 66}

✅ R4 csv+markdown run 2 graded by code

About 66. I counted by hand the instruments whose latest rating on or before 1 Oct 2026 is BBB- or higher. Expected ratings (EX) are not ratings and are excluded.

JSON: {"count": 66}

✅ R4 csv+markdown run 3 graded by code

66. Count of instruments whose latest INST action on or before 1 Oct 2026 is BBB- or higher (by hand, see note).

JSON: {"count": 66}

✅ R4 csv+markdown run 4 graded by code

66. Of the 106 instruments rated on 1 Oct 2026, 66 have a latest rating of BBB- or higher.

JSON: {"count": 66}

❌ R4 csv+markdown run 5 graded by code

Not settled by hand. This needs an instrument-by-instrument tally as of 1 Oct 2026.

JSON: {"count": null}

Why: count: expected 66, got None

❌ R3 csv+padding run 1 graded by code

Not determined. The instrument-level pass was not completed.

JSON: {"count": null}

Why: count: expected 66, got None

❌ R3 csv+padding run 2 graded by code

Not completed. Counting instruments with an investment-grade rating on 1 October 2026 needs a script.

JSON: {"count": null}

Why: count: expected 66, got None

❌ R3 csv+padding run 3 graded by code

Not determined. I checked only I01–I08 (six are investment grade), and the I1xxx instruments were not fully scanned.

JSON: {"count": null}

Why: count: expected 66, got None

❌ R3 csv+padding run 4 graded by code

69 instruments. This counts EX actions as ratings (I08, I1012, I1021). I1001, I1007 and I1015 have only future-dated actions, so they are unrated. If EX ends a rating, the count falls to 66.

JSON: {"count": 69}

Why: count: expected 66, got 69

❌ R3 csv+padding run 5 graded by code

Not counted.

JSON: {"count": null}

Why: count: expected 66, got None

✅ R10 executed run 1 graded by code

66. This counts current INST ratings of BBB- or higher on 1 Oct 2026.

JSON: {"count": 66}

✅ R10 executed run 2 graded by code

66. I counted instruments with an open INST rating of BBB- or higher on 1 Oct 2026.

JSON: {"count": 66}

✅ R10 executed run 3 graded by code

66 instruments are rated investment grade (BBB- or above) with open ratings. The rated instruments total 106, of which 40 are below BBB-.

JSON: {"count": 66}

✅ R10 executed run 4 graded by code

66 instruments held investment-grade ratings on 1 Oct 2026, from the open instrument records (e.g., I01 BBB, A06).

JSON: {"count": 66}

✅ R10 executed run 5 graded by code

66. These are the instruments whose current INST rating is BBB- or higher, counting I01, I03, I05, I06, I07 and the I10xx instruments.

JSON: {"count": 66}

✅ R7 csv+neutral run 1 graded by code

66. Of the 106 instruments rated on 2026-10-01, 66 are rated BBB- or higher. This is a manual tally.

JSON: {"count": 66}

✅ R7 csv+neutral run 2 graded by code

66. This counts instruments whose latest instrument rating on 1 Oct 2026 is BBB- or higher, from a manual pass. Instruments whose only action is EX are unrated.

JSON: {"count": 66}

✅ R7 csv+neutral run 3 graded by code

66. Of 115 instruments, 9 have no assigned rating (EX only or nothing), and 40 of the remaining 106 are below BBB-.

JSON: {"count": 66}

❌ R7 csv+neutral run 4 graded by code

Not settled by hand; it needs a full instrument-level scan as of 1 Oct 2026.

JSON: {"count": null}

Why: count: expected 66, got None

❌ R7 csv+neutral run 5 graded by code

Not determined in this pass. It needs the latest instrument rating for each of about 115 instruments as of 1 Oct 2026.

JSON: {"count": null}

Why: count: expected 66, got None

✅ R8 csv+axioms run 1 graded by code

66. Of the 106 instruments rated on 1 October 2026, 66 have a latest in-force rating of BBB- or higher.

JSON: {"count": 66}

❌ R8 csv+axioms run 2 graded by code

Not determined. Instrument-level tracing across roughly 107 instruments was not completed.

JSON: {"count": null}

Why: count: expected 66, got None

✅ R8 csv+axioms run 3 graded by code

66. This counts instruments whose latest in-force rating is investment grade on 2026-10-01; EX-only instruments are excluded. The count is approximate.

JSON: {"count": 66}

❌ R8 csv+axioms run 4 graded by code

Not finished. This needs the latest INST rating per instrument as of 2026-10-01.

JSON: {"count": null}

Why: count: expected 66, got None

❌ R8 csv+axioms run 5 graded by code

Not determined. This requires checking about 115 instruments for their latest in-force instrument rating, which I did not complete.

JSON: {"count": null}

Why: count: expected 66, got None

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

Not determined. This needs the latest instrument rating for every instrument, which I did not finish.

JSON: {"count": null}

Why: count: expected 66, got None

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

Not settled. Counting instrument ratings at 2026-10-01 needs the full rule run.

JSON: {"count": null}

Why: count: expected 66, got None

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

Not settled by hand. This needs instrument-level latest ratings as of 1 Oct 2026 across about 100 instruments.

JSON: {"count": null}

Why: count: expected 66, got None

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

66 (hand-tallied). I counted instruments whose latest INST rating is BBB- or higher on 1 Oct 2026, excluding EX-only instruments.

JSON: {"count": 66}

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

Not completed. This needs the instrument rating for each of about 100 instruments as of 1 Oct 2026.

JSON: {"count": null}

Why: count: expected 66, got None