Q18, run 2026-11-05-2135-sonnet

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Which issuers were on Rating Watch Negative on 1 October 2026?

Tests: Watch over time: Marlow's Watch ended with its 2026 affirmation.

Expected: issuers = ['E06', 'E1006', 'E1013', 'E1019', 'E1037', 'E1039', 'E1059', 'E1061', 'E1066', 'E1088', 'E1098', 'E1099', 'E1109', 'E1126', 'E1132', 'E1133', 'E1146', 'E1168', 'E1181', 'E1194', 'E1203', 'E1209', 'E1238', 'E1242', 'E1260', 'E1264', 'E1266', 'E1267', 'E1297', 'E1314', 'E1317', 'E1323']

✅ R1 csv run 1 graded by code

32 issuers have a last action that is an RW placement with no later clearing action. They are listed in the JSON, including E1019 and E1059, which are on watch only on their LC ratings.

JSON: {"issuers": ["E06", "E1267", "E1242", "E1039", "E1194", "E1203", "E1133", "E1088", "E1066", "E1168", "E1109", "E1264", "E1098", "E1006", "E1260", "E1013", "E1126", "E1132", "E1146", "E1181", "E1209", "E1266", "E1297", "E1037", "E1061", "E1238", "E1317", "E1314", "E1323", "E1099", "E1019", "E1059"]}

✅ R1 csv run 2 graded by code

32 issuers were on Rating Watch Negative: their latest action on or before 2026-10-01 is an RW with RWN and nothing later cleared it. The list is in the JSON. E1019 and E1059 are included on the strength of local-currency watches only.

JSON: {"issuers": ["E06", "E1267", "E1242", "E1039", "E1194", "E1203", "E1133", "E1006", "E1088", "E1168", "E1099", "E1037", "E1066", "E1061", "E1264", "E1260", "E1266", "E1098", "E1297", "E1323", "E1314", "E1317", "E1209", "E1181", "E1126", "E1146", "E1132", "E1013", "E1109", "E1238", "E1019", "E1059"]}

✅ R1 csv run 3 graded by code

32 issuers, listed in the JSON. Each is one whose latest action on 2026-10-01 was a watch, with no later action resolving it. E1059 and E1019 are on watch for their local-currency rating only.

JSON: {"issuers": ["E06", "E1267", "E1242", "E1039", "E1194", "E1203", "E1133", "E1088", "E1006", "E1109", "E1013", "E1098", "E1066", "E1099", "E1126", "E1146", "E1317", "E1314", "E1168", "E1132", "E1181", "E1209", "E1264", "E1260", "E1266", "E1297", "E1238", "E1061", "E1059", "E1019", "E1323", "E1037"]}

❌ R1 csv run 4 graded by code

31 issuers (listed in the JSON). I took each entity's latest action as of 2026-10-01 and kept those where it is a Rating Watch Negative action. E1019 and E1059 are on watch for their local-currency ratings only.

JSON: {"issuers": ["E06", "E1006", "E1013", "E1019", "E1037", "E1059", "E1061", "E1066", "E1088", "E1098", "E1099", "E1109", "E1126", "E1132", "E1133", "E1146", "E1168", "E1181", "E1194", "E1203", "E1209", "E1238", "E1242", "E1260", "E1264", "E1266", "E1267", "E1297", "E1314", "E1317", "E1323"]}

Why: issuers: expected ['E06', 'E1006', 'E1013', 'E1019', 'E1037', 'E1039', 'E1059', 'E1061', 'E1066', 'E1088', 'E1098', 'E1099', 'E1109', 'E1126', 'E1132', 'E1133', 'E1146', 'E1168', 'E1181', 'E1194', 'E1203', 'E1209', 'E1238', 'E1242', 'E1260', 'E1264', 'E1266', 'E1267', 'E1297', 'E1314', 'E1317', 'E1323'], got ['E06', 'E1006', 'E1013', 'E1019', 'E1037', 'E1059', 'E1061', 'E1066', 'E1088', 'E1098', 'E1099', 'E1109', 'E1126', 'E1132', 'E1133', 'E1146', 'E1168', 'E1181', 'E1194', 'E1203', 'E1209', 'E1238', 'E1242', 'E1260', 'E1264', 'E1266', 'E1267', 'E1297', 'E1314', 'E1317', 'E1323']

✅ R1 csv run 5 graded by code

32 issuers were on Rating Watch Negative, because their last action was a watch placement and no later action cleared it. E1019 and E1059 are on watch for their local-currency rating only.

JSON: {"issuers": ["E06", "E1267", "E1242", "E1039", "E1133", "E1194", "E1203", "E1006", "E1099", "E1088", "E1109", "E1264", "E1059", "E1181", "E1209", "E1132", "E1146", "E1168", "E1098", "E1066", "E1061", "E1260", "E1266", "E1126", "E1037", "E1013", "E1297", "E1314", "E1317", "E1323", "E1238", "E1019"]}

✅ R2 rdf run 1 graded by code

32 issuers; see the JSON. These are entities whose latest action by 2026-10-01 is a Rating Watch Negative, not cleared by a later action.

JSON: {"issuers": ["E06", "E1006", "E1013", "E1019", "E1037", "E1039", "E1059", "E1061", "E1066", "E1088", "E1098", "E1099", "E1109", "E1126", "E1132", "E1133", "E1146", "E1168", "E1181", "E1194", "E1203", "E1210", "E1238", "E1242", "E1260", "E1264", "E1266", "E1267", "E1297", "E1314", "E1317", "E1323"]}

✅ R2 rdf run 2 graded by code

Thirty-two entities. These are entities whose latest action is a Rating Watch Negative, with no later affirmation, upgrade or downgrade, by 2026-10-01. The data gives no expiry for watches, so stale ones such as E1037 (2022) are included. E14 is excluded because A33 (AF, 2026-05-01) came after its watch.

JSON: {"issuers": ["E06", "E1006", "E1013", "E1019", "E1037", "E1039", "E1059", "E1061", "E1066", "E1088", "E1098", "E1099", "E1109", "E1126", "E1132", "E1133", "E1146", "E1168", "E1181", "E1194", "E1203", "E1210", "E1238", "E1242", "E1260", "E1264", "E1266", "E1267", "E1297", "E1314", "E1317", "E1323"]}

❌ R2 rdf run 3 graded by code

31 entities were on Rating Watch Negative on 2026-10-01. Their watch was not resolved by a later affirmation, upgrade, downgrade or withdrawal. Some of these watches are old (for example A1076, 2022), but nothing in the data clears them.

JSON: {"issuers": ["E06", "E1006", "E1013", "E1019", "E1037", "E1059", "E1061", "E1066", "E1088", "E1098", "E1099", "E1109", "E1126", "E1132", "E1133", "E1146", "E1168", "E1181", "E1194", "E1203", "E1210", "E1238", "E1242", "E1260", "E1264", "E1266", "E1267", "E1297", "E1314", "E1317", "E1323"]}

Why: issuers: expected ['E06', 'E1006', 'E1013', 'E1019', 'E1037', 'E1039', 'E1059', 'E1061', 'E1066', 'E1088', 'E1098', 'E1099', 'E1109', 'E1126', 'E1132', 'E1133', 'E1146', 'E1168', 'E1181', 'E1194', 'E1203', 'E1209', 'E1238', 'E1242', 'E1260', 'E1264', 'E1266', 'E1267', 'E1297', 'E1314', 'E1317', 'E1323'], got ['E06', 'E1006', 'E1013', 'E1019', 'E1037', 'E1059', 'E1061', 'E1066', 'E1088', 'E1098', 'E1099', 'E1109', 'E1126', 'E1132', 'E1133', 'E1146', 'E1168', 'E1181', 'E1194', 'E1203', 'E1210', 'E1238', 'E1242', 'E1260', 'E1264', 'E1266', 'E1267', 'E1297', 'E1314', 'E1317', 'E1323']

✅ R2 rdf run 4 graded by code

32 issuers have a Rating Watch Negative as their latest action on 1 Oct 2026 (list in JSON). Watches have no expiry in the data, so older ones such as E1037 (2022) are included.

JSON: {"issuers": ["E06", "E1006", "E1013", "E1019", "E1037", "E1039", "E1059", "E1061", "E1066", "E1088", "E1098", "E1099", "E1109", "E1126", "E1132", "E1133", "E1146", "E1168", "E1181", "E1194", "E1203", "E1210", "E1238", "E1242", "E1260", "E1264", "E1266", "E1267", "E1297", "E1314", "E1317", "E1323"]}

✅ R2 rdf run 5 graded by code

32 entities were still on Rating Watch Negative (RWN) on 2026-10-01, meaning their latest action was a Watch and no later action cleared it. Some of these Watches are old (e.g. E1037's from 2022) and some are on the local-currency rating (E1019, E1059). The IDs are in the JSON.

JSON: {"issuers": ["E06", "E1006", "E1013", "E1019", "E1037", "E1039", "E1059", "E1061", "E1066", "E1088", "E1098", "E1099", "E1109", "E1126", "E1132", "E1133", "E1146", "E1168", "E1181", "E1194", "E1203", "E1210", "E1238", "E1242", "E1260", "E1264", "E1266", "E1267", "E1297", "E1314", "E1317", "E1323"]}

✅ R6 rdf+ontology run 1 graded by code

32 entities were on RWN, meaning their latest action on that basis is an RW. Entities later upgraded, downgraded, affirmed or withdrawn are excluded (e.g. E1012, E1213, E1158, E1276, E1303). Where the Watch is on one basis only (E1019, E1039, E1059, E1126, E1194), I counted the entity.

JSON: {"issuers": ["E06", "E1006", "E1013", "E1019", "E1037", "E1039", "E1059", "E1061", "E1066", "E1088", "E1098", "E1099", "E1109", "E1126", "E1132", "E1133", "E1146", "E1168", "E1181", "E1194", "E1203", "E1209", "E1238", "E1242", "E1260", "E1264", "E1266", "E1267", "E1297", "E1314", "E1317", "E1323"]}

❌ R6 rdf+ontology run 2 graded by code

The latest action is an RW with watch RWN and no later action. Examples are A17 (E06) and A1010 (E1006). The JSON lists all of them.

JSON: {"issuers": ["E06", "E1006", "E1013", "E1019", "E1037", "E1059", "E1061", "E1066", "E1088", "E1098", "E1099", "E1109", "E1126", "E1132", "E1133", "E1146", "E1168", "E1181", "E1194", "E1203", "E1209", "E1238", "E1242", "E1260", "E1264", "E1266", "E1267", "E1297", "E1314", "E1317", "E1323"]}

Why: issuers: expected ['E06', 'E1006', 'E1013', 'E1019', 'E1037', 'E1039', 'E1059', 'E1061', 'E1066', 'E1088', 'E1098', 'E1099', 'E1109', 'E1126', 'E1132', 'E1133', 'E1146', 'E1168', 'E1181', 'E1194', 'E1203', 'E1209', 'E1238', 'E1242', 'E1260', 'E1264', 'E1266', 'E1267', 'E1297', 'E1314', 'E1317', 'E1323'], got ['E06', 'E1006', 'E1013', 'E1019', 'E1037', 'E1059', 'E1061', 'E1066', 'E1088', 'E1098', 'E1099', 'E1109', 'E1126', 'E1132', 'E1133', 'E1146', 'E1168', 'E1181', 'E1194', 'E1203', 'E1209', 'E1238', 'E1242', 'E1260', 'E1264', 'E1266', 'E1267', 'E1297', 'E1314', 'E1317', 'E1323']

✅ R6 rdf+ontology run 3 graded by code

32 issuers were on Rating Watch Negative, listed in the JSON. Each has a Watch action (RW) as its latest action on that basis. I excluded issuers whose Watch was followed by a later action, such as E1213, E1276 and E1158.

JSON: {"issuers": ["E06", "E1006", "E1013", "E1019", "E1037", "E1039", "E1059", "E1061", "E1066", "E1088", "E1098", "E1099", "E1109", "E1126", "E1132", "E1133", "E1146", "E1168", "E1181", "E1194", "E1203", "E1209", "E1238", "E1242", "E1260", "E1264", "E1266", "E1267", "E1297", "E1314", "E1317", "E1323"]}

✅ R6 rdf+ontology run 4 graded by code

Thirty-two issuers were on Rating Watch Negative, being those whose latest action on a given basis was an RW.

JSON: {"issuers": ["E06", "E1006", "E1013", "E1019", "E1037", "E1039", "E1059", "E1061", "E1066", "E1088", "E1098", "E1099", "E1109", "E1126", "E1132", "E1133", "E1146", "E1168", "E1181", "E1194", "E1203", "E1210", "E1238", "E1242", "E1260", "E1264", "E1266", "E1267", "E1297", "E1314", "E1317", "E1323"]}

✅ R6 rdf+ontology run 5 graded by code

32 issuers were on Rating Watch Negative. In each case their latest action by 2026-10-01 is a Watch (for example A17 for E06 and A1010 for E1006). See the JSON for the list.

JSON: {"issuers": ["E06", "E1006", "E1013", "E1019", "E1037", "E1039", "E1059", "E1061", "E1066", "E1088", "E1098", "E1099", "E1109", "E1126", "E1132", "E1133", "E1146", "E1168", "E1181", "E1194", "E1203", "E1209", "E1238", "E1242", "E1260", "E1264", "E1266", "E1267", "E1297", "E1314", "E1317", "E1323"]}

✅ R5 csv+ontology run 1 graded by code

32 entities, listed in the JSON. Each one's latest action on its rating is a Watch Negative. E1059 and E1019 are on watch on the LC basis only, and E1209 is the entity behind record E1210.

JSON: {"issuers": ["E06", "E1267", "E1242", "E1039", "E1109", "E1264", "E1168", "E1006", "E1209", "E1260", "E1133", "E1088", "E1013", "E1037", "E1061", "E1066", "E1098", "E1099", "E1126", "E1132", "E1146", "E1181", "E1194", "E1203", "E1238", "E1266", "E1297", "E1314", "E1317", "E1323", "E1059", "E1019"]}

✅ R5 csv+ontology run 2 graded by code

32 issuers were on Rating Watch Negative on 1 October 2026. Two of them (E1019, E1059) are on Watch for their local-currency rating only.

JSON: {"issuers": ["E06", "E1267", "E1242", "E1039", "E1194", "E1203", "E1133", "E1088", "E1109", "E1264", "E1181", "E1168", "E1260", "E1209", "E1099", "E1006", "E1013", "E1037", "E1061", "E1066", "E1098", "E1132", "E1146", "E1238", "E1266", "E1297", "E1314", "E1317", "E1323", "E1126", "E1019", "E1059"]}

✅ R5 csv+ontology run 3 graded by code

32 issuers, listed in the JSON, are on RWN on 2026-10-01, taking each entity's latest action. This includes E1019 and E1059, whose Watch is on the LC rating.

JSON: {"issuers": ["E06", "E1267", "E1242", "E1039", "E1194", "E1203", "E1133", "E1088", "E1006", "E1264", "E1109", "E1168", "E1061", "E1260", "E1013", "E1019", "E1059", "E1037", "E1066", "E1098", "E1132", "E1146", "E1209", "E1266", "E1126", "E1181", "E1297", "E1314", "E1317", "E1323", "E1238", "E1099"]}

✅ R5 csv+ontology run 4 graded by code

32 issuers were on RWN, each with an RW as their latest action; they are in the JSON. RW rows carry no outlook, and those that were later withdrawn or changed are excluded.

JSON: {"issuers": ["E06", "E1267", "E1242", "E1039", "E1194", "E1203", "E1133", "E1109", "E1264", "E1168", "E1019", "E1006", "E1088", "E1099", "E1297", "E1260", "E1209", "E1181", "E1146", "E1066", "E1098", "E1126", "E1059", "E1132", "E1061", "E1266", "E1323", "E1238", "E1314", "E1317", "E1037", "E1013"]}

✅ R5 csv+ontology run 5 graded by code

32 issuers were on Rating Watch Negative: those whose latest action was a Watch (RW). Examples are E06 (A17) and E1267 (A1570).

JSON: {"issuers": ["E06", "E1267", "E1242", "E1039", "E1194", "E1203", "E1133", "E1088", "E1006", "E1109", "E1264", "E1168", "E1019", "E1209", "E1260", "E1066", "E1037", "E1061", "E1126", "E1323", "E1297", "E1098", "E1013", "E1132", "E1146", "E1317", "E1314", "E1266", "E1238", "E1181", "E1059", "E1099"]}

✅ R4 csv+markdown run 1 graded by code

The list is in the JSON. It includes E1019 and E1059, whose local-currency ratings are on watch.

JSON: {"issuers": ["E06", "E1267", "E1242", "E1039", "E1194", "E1203", "E1133", "E1088", "E1006", "E1146", "E1099", "E1168", "E1019", "E1181", "E1209", "E1260", "E1297", "E1098", "E1264", "E1109", "E1266", "E1037", "E1013", "E1061", "E1314", "E1317", "E1126", "E1059", "E1066", "E1238", "E1323", "E1132"]}

✅ R4 csv+markdown run 2 graded by code

33 issuers, where the latest action is a Rating Watch Negative. This includes E1019, E1039 and E1059, whose Watch sits on one currency basis only (E1019 and E1059 on local currency, E1039 on foreign currency).

JSON: {"issuers": ["E06", "E1267", "E1242", "E1039", "E1194", "E1203", "E1133", "E1019", "E1088", "E1006", "E1013", "E1037", "E1099", "E1109", "E1126", "E1168", "E1181", "E1209", "E1264", "E1260", "E1266", "E1297", "E1314", "E1317", "E1323", "E1132", "E1098", "E1066", "E1059", "E1061", "E1146", "E1238"]}

✅ R4 csv+markdown run 3 graded by code

32 issuers, listed in the JSON. Each one's latest action, on either currency basis, is a Rating Watch placement.

JSON: {"issuers": ["E06", "E1267", "E1242", "E1039", "E1194", "E1203", "E1133", "E1088", "E1099", "E1019", "E1006", "E1109", "E1264", "E1260", "E1168", "E1181", "E1209", "E1132", "E1323", "E1126", "E1146", "E1037", "E1066", "E1098", "E1013", "E1297", "E1266", "E1238", "E1317", "E1314", "E1061", "E1059"]}

✅ R4 csv+markdown run 4 graded by code

32 issuers were on Rating Watch Negative. Each has a Watch (RW) as its latest rating action for that basis, with no later action clearing it. The list is in the JSON block.

JSON: {"issuers": ["E06", "E1267", "E1242", "E1039", "E1006", "E1088", "E1194", "E1203", "E1133", "E1099", "E1168", "E1019", "E1059", "E1264", "E1209", "E1126", "E1260", "E1266", "E1238", "E1013", "E1037", "E1061", "E1066", "E1098", "E1109", "E1132", "E1146", "E1181", "E1297", "E1317", "E1323", "E1314"]}

✅ R4 csv+markdown run 5 graded by code

32 issuers; the list is in the JSON. These are entities whose latest LTIDR action is a Rating Watch, including LC-only Watches on E1019 and E1059.

JSON: {"issuers": ["E06", "E1267", "E1242", "E1039", "E1088", "E1133", "E1194", "E1203", "E1006", "E1109", "E1264", "E1099", "E1168", "E1019", "E1059", "E1132", "E1126", "E1146", "E1181", "E1209", "E1037", "E1061", "E1066", "E1098", "E1013", "E1238", "E1260", "E1266", "E1297", "E1317", "E1314", "E1323"]}

✅ R3 csv+padding run 1 graded by code

32 issuers (listed in the JSON). The latest action on each is a Rating Watch Negative. E1019 and E1059 are included only on LC-rating watches (A1041/A1042, A1132).

JSON: {"issuers": ["E06", "E1019", "E1037", "E1039", "E1059", "E1061", "E1066", "E1006", "E1013", "E1088", "E1098", "E1099", "E1109", "E1126", "E1132", "E1133", "E1146", "E1168", "E1181", "E1194", "E1203", "E1209", "E1238", "E1242", "E1260", "E1264", "E1266", "E1267", "E1297", "E1314", "E1317", "E1323"]}

✅ R3 csv+padding run 2 graded by code

32 entities, listed in the JSON. I took each entity whose latest action on or before 2026-10-01 is an RW action, which carries RWN. Some watches are old (e.g. E1267, from 2023) with no later action in the data. E1019 and E1059 are on watch in local currency only.

JSON: {"issuers": ["E06", "E1267", "E1242", "E1039", "E1194", "E1203", "E1133", "E1109", "E1006", "E1088", "E1264", "E1168", "E1019", "E1209", "E1099", "E1146", "E1013", "E1181", "E1037", "E1061", "E1059", "E1066", "E1266", "E1260", "E1126", "E1132", "E1238", "E1098", "E1297", "E1314", "E1317", "E1323"]}

✅ R3 csv+padding run 3 graded by code

32 issuers; the list is in the JSON. These are entities whose latest action is a watch with no later resolution. E1019 and E1059 are on watch for their local-currency ratings only.

JSON: {"issuers": ["E06", "E1267", "E1242", "E1039", "E1194", "E1203", "E1133", "E1006", "E1088", "E1019", "E1168", "E1260", "E1264", "E1061", "E1099", "E1098", "E1109", "E1132", "E1146", "E1181", "E1209", "E1266", "E1297", "E1314", "E1317", "E1323", "E1126", "E1066", "E1059", "E1238", "E1037", "E1013"]}

✅ R3 csv+padding run 4 graded by code

32 issuers; they are in the JSON block. These are entities whose latest rating action was an RW with RWN, not later cleared.

JSON: {"issuers": ["E06", "E1267", "E1242", "E1039", "E1088", "E1194", "E1133", "E1203", "E1006", "E1066", "E1109", "E1264", "E1099", "E1168", "E1209", "E1260", "E1037", "E1013", "E1019", "E1059", "E1098", "E1132", "E1126", "E1146", "E1181", "E1297", "E1266", "E1314", "E1317", "E1323", "E1061", "E1238"]}

✅ R3 csv+padding run 5 graded by code

32 issuers. For E1019 and E1059 the watch sits on the local-currency rating only. The record IDs are in the JSON.

JSON: {"issuers": ["E06", "E1006", "E1013", "E1019", "E1037", "E1039", "E1059", "E1061", "E1066", "E1088", "E1098", "E1099", "E1109", "E1126", "E1132", "E1133", "E1146", "E1168", "E1181", "E1194", "E1203", "E1209", "E1238", "E1242", "E1260", "E1264", "E1266", "E1267", "E1297", "E1314", "E1317", "E1323"]}

✅ R10 executed run 1 graded by code

32 issuers were on RWN with an open record on 1 Oct 2026 (listed in the JSON).

JSON: {"issuers": ["E06", "E1006", "E1013", "E1019", "E1037", "E1039", "E1059", "E1061", "E1066", "E1088", "E1098", "E1099", "E1109", "E1126", "E1132", "E1133", "E1146", "E1168", "E1181", "E1194", "E1203", "E1209", "E1238", "E1242", "E1260", "E1264", "E1266", "E1267", "E1297", "E1314", "E1317", "E1323"]}

❌ R10 executed run 2 graded by code

31 issuers had an open RWN record on 1 Oct 2026. The full list is in the JSON.

JSON: {"issuers": ["E06", "E1006", "E1013", "E1019", "E1037", "E1059", "E1061", "E1066", "E1088", "E1098", "E1099", "E1109", "E1126", "E1132", "E1133", "E1146", "E1168", "E1181", "E1194", "E1203", "E1209", "E1238", "E1242", "E1260", "E1264", "E1266", "E1267", "E1297", "E1314", "E1317", "E1323"]}

Why: issuers: expected ['E06', 'E1006', 'E1013', 'E1019', 'E1037', 'E1039', 'E1059', 'E1061', 'E1066', 'E1088', 'E1098', 'E1099', 'E1109', 'E1126', 'E1132', 'E1133', 'E1146', 'E1168', 'E1181', 'E1194', 'E1203', 'E1209', 'E1238', 'E1242', 'E1260', 'E1264', 'E1266', 'E1267', 'E1297', 'E1314', 'E1317', 'E1323'], got ['E06', 'E1006', 'E1013', 'E1019', 'E1037', 'E1059', 'E1061', 'E1066', 'E1088', 'E1098', 'E1099', 'E1109', 'E1126', 'E1132', 'E1133', 'E1146', 'E1168', 'E1181', 'E1194', 'E1203', 'E1209', 'E1238', 'E1242', 'E1260', 'E1264', 'E1266', 'E1267', 'E1297', 'E1314', 'E1317', 'E1323']

✅ R10 executed run 3 graded by code

32 issuers have an open Rating Watch Negative (RWN) record, listed in the JSON.

JSON: {"issuers": ["E06", "E1006", "E1013", "E1019", "E1037", "E1039", "E1059", "E1061", "E1066", "E1088", "E1098", "E1099", "E1109", "E1126", "E1132", "E1133", "E1146", "E1168", "E1181", "E1194", "E1203", "E1209", "E1238", "E1242", "E1260", "E1264", "E1266", "E1267", "E1297", "E1314", "E1317", "E1323"]}

❌ R10 executed run 4 graded by code

31 issuers had an open watch of RWN (listed in the JSON).

JSON: {"issuers": ["E06", "E1006", "E1013", "E1019", "E1037", "E1039", "E1059", "E1061", "E1066", "E1088", "E1098", "E1099", "E1126", "E1132", "E1133", "E1146", "E1168", "E1181", "E1194", "E1203", "E1209", "E1238", "E1242", "E1260", "E1264", "E1266", "E1267", "E1297", "E1314", "E1317", "E1323"]}

Why: issuers: expected ['E06', 'E1006', 'E1013', 'E1019', 'E1037', 'E1039', 'E1059', 'E1061', 'E1066', 'E1088', 'E1098', 'E1099', 'E1109', 'E1126', 'E1132', 'E1133', 'E1146', 'E1168', 'E1181', 'E1194', 'E1203', 'E1209', 'E1238', 'E1242', 'E1260', 'E1264', 'E1266', 'E1267', 'E1297', 'E1314', 'E1317', 'E1323'], got ['E06', 'E1006', 'E1013', 'E1019', 'E1037', 'E1039', 'E1059', 'E1061', 'E1066', 'E1088', 'E1098', 'E1099', 'E1126', 'E1132', 'E1133', 'E1146', 'E1168', 'E1181', 'E1194', 'E1203', 'E1209', 'E1238', 'E1242', 'E1260', 'E1264', 'E1266', 'E1267', 'E1297', 'E1314', 'E1317', 'E1323']

✅ R10 executed run 5 graded by code

32 issuers carried an open RWN record. They are listed in the JSON below.

JSON: {"issuers": ["E06", "E1006", "E1013", "E1019", "E1037", "E1039", "E1059", "E1061", "E1066", "E1088", "E1098", "E1099", "E1109", "E1126", "E1132", "E1133", "E1146", "E1168", "E1181", "E1194", "E1203", "E1209", "E1238", "E1242", "E1260", "E1264", "E1266", "E1267", "E1297", "E1314", "E1317", "E1323"]}

✅ R7 csv+neutral run 1 graded by code

Thirty-two issuers, listed in the JSON, are on Rating Watch Negative. Their latest action is a Watch (or a later action does not remove it). E1019 and E1059 are included because their local-currency ratings are on watch.

JSON: {"issuers": ["E06", "E1267", "E1242", "E1039", "E1194", "E1203", "E1133", "E1019", "E1088", "E1264", "E1181", "E1260", "E1168", "E1099", "E1109", "E1209", "E1006", "E1013", "E1037", "E1066", "E1098", "E1126", "E1132", "E1146", "E1238", "E1266", "E1297", "E1314", "E1317", "E1323", "E1059", "E1061"]}

✅ R7 csv+neutral run 2 graded by code

Thirty-two entities, listed in the JSON. For each, the latest action on its issuer rating is a Rating Watch Negative dated on or before 2026-10-01, with nothing after it.

JSON: {"issuers": ["E06", "E1267", "E1242", "E1039", "E1006", "E1088", "E1194", "E1203", "E1133", "E1059", "E1264", "E1168", "E1260", "E1297", "E1314", "E1317", "E1323", "E1266", "E1238", "E1181", "E1066", "E1061", "E1037", "E1013", "E1019", "E1099", "E1098", "E1109", "E1126", "E1132", "E1146", "E1209"]}

✅ R7 csv+neutral run 3 graded by code

32 issuers. Their latest action on the relevant basis is a Rating Watch Negative that no later action has cleared. They are listed in the JSON.

JSON: {"issuers": ["E06", "E1267", "E1242", "E1039", "E1194", "E1203", "E1133", "E1088", "E1006", "E1146", "E1264", "E1168", "E1019", "E1209", "E1109", "E1260", "E1037", "E1098", "E1181", "E1013", "E1323", "E1126", "E1132", "E1314", "E1266", "E1297", "E1317", "E1238", "E1061", "E1066", "E1059", "E1099"]}

✅ R7 csv+neutral run 4 graded by code

32 issuers had a latest action that left them on RWN (listed in the JSON). I counted any basis, so E1059 and E1019 are included on their LC ratings.

JSON: {"issuers": ["E06", "E1267", "E1242", "E1039", "E1099", "E1006", "E1088", "E1133", "E1037", "E1194", "E1203", "E1059", "E1019", "E1264", "E1126", "E1209", "E1260", "E1168", "E1146", "E1109", "E1061", "E1098", "E1323", "E1317", "E1314", "E1297", "E1266", "E1238", "E1181", "E1132", "E1066", "E1013"]}

✅ R7 csv+neutral run 5 graded by code

32 issuers had a Watch Negative as their latest action on 1 October 2026; they are listed in the JSON.

JSON: {"issuers": ["E06", "E1267", "E1242", "E1039", "E1088", "E1194", "E1203", "E1133", "E1006", "E1146", "E1059", "E1019", "E1013", "E1037", "E1061", "E1066", "E1098", "E1099", "E1109", "E1264", "E1126", "E1132", "E1168", "E1181", "E1209", "E1260", "E1266", "E1297", "E1314", "E1317", "E1323", "E1238"]}

✅ R8 csv+axioms run 1 graded by code

32 issuers, listed in the JSON. Each has a watch action (RW) still current on 2026-10-01. Watches later superseded, such as E14's A35 by A33, are excluded.

JSON: {"issuers": ["E06", "E1006", "E1013", "E1019", "E1037", "E1039", "E1059", "E1061", "E1066", "E1088", "E1098", "E1099", "E1109", "E1126", "E1132", "E1133", "E1146", "E1168", "E1181", "E1194", "E1203", "E1210", "E1238", "E1242", "E1260", "E1264", "E1266", "E1267", "E1297", "E1314", "E1317", "E1323"]}

❌ R8 csv+axioms run 2 graded by code

33 rated records have a Rating Watch Negative as their latest action (list in the JSON). It includes E1019 and E1059, which are on watch only on their local-currency ratings.

JSON: {"issuers": ["E06", "E1267", "E1242", "E1039", "E1088", "E1126", "E1013", "E1133", "E1323", "E1132", "E1061", "E1006", "E1019", "E1066", "E1276", "E1264", "E1260", "E1238", "E1098", "E1297", "E1314", "E1317", "E1146", "E1168", "E1109", "E1099", "E1181", "E1194", "E1203", "E1210", "E1037", "E1266", "E1059"]}

Why: issuers: expected ['E06', 'E1006', 'E1013', 'E1019', 'E1037', 'E1039', 'E1059', 'E1061', 'E1066', 'E1088', 'E1098', 'E1099', 'E1109', 'E1126', 'E1132', 'E1133', 'E1146', 'E1168', 'E1181', 'E1194', 'E1203', 'E1209', 'E1238', 'E1242', 'E1260', 'E1264', 'E1266', 'E1267', 'E1297', 'E1314', 'E1317', 'E1323'], got ['E06', 'E1267', 'E1242', 'E1039', 'E1088', 'E1126', 'E1013', 'E1133', 'E1323', 'E1132', 'E1061', 'E1006', 'E1019', 'E1066', 'E1276', 'E1264', 'E1260', 'E1238', 'E1098', 'E1297', 'E1314', 'E1317', 'E1146', 'E1168', 'E1109', 'E1099', 'E1181', 'E1194', 'E1203', 'E1210', 'E1037', 'E1266', 'E1059']

✅ R8 csv+axioms run 3 graded by code

32 entities. Each has a Rating Watch Negative as the latest rating action on a rating still in force (list in the JSON).

JSON: {"issuers": ["E06", "E1267", "E1242", "E1039", "E1006", "E1088", "E1194", "E1203", "E1133", "E1181", "E1099", "E1098", "E1146", "E1168", "E1019", "E1037", "E1013", "E1066", "E1061", "E1059", "E1109", "E1126", "E1132", "E1264", "E1260", "E1266", "E1297", "E1314", "E1317", "E1323", "E1209", "E1238"]}

✅ R8 csv+axioms run 4 graded by code

Issuers whose latest action on 2026-10-01 was a Rating Watch Negative are listed in the JSON, with 32 entities. E1059 qualifies on its local-currency series (A1132), and E1209 stands for E1210 (A1442).

JSON: {"issuers": ["E06", "E1006", "E1297", "E1066", "E1059", "E1098", "E1266", "E1238", "E1314", "E1267", "E1088", "E1013", "E1037", "E1061", "E1323", "E1317", "E1264", "E1260", "E1209", "E1194", "E1181", "E1146", "E1133", "E1132", "E1126", "E1109", "E1099", "E1168", "E1203", "E1242", "E1019", "E1039"]}

✅ R8 csv+axioms run 5 graded by code

Thirty-two entities had a latest rating action that was a Rating Watch placement, listed in the JSON. Entities where a later affirmation, upgrade, downgrade or withdrawal cleared the watch are excluded.

JSON: {"issuers": ["E06", "E1267", "E1242", "E1039", "E1006", "E1194", "E1203", "E1133", "E1088", "E1168", "E1109", "E1264", "E1260", "E1099", "E1013", "E1019", "E1059", "E1061", "E1066", "E1037", "E1126", "E1132", "E1146", "E1181", "E1209", "E1266", "E1297", "E1314", "E1317", "E1323", "E1098", "E1238"]}

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

Thirty-one entities, listed in the JSON, have a Rating Watch Negative as their latest action on 2026-10-01. For E1019 and E1059 the watch is on the local-currency rating only.

JSON: {"issuers": ["E06", "E1267", "E1242", "E1039", "E1088", "E1194", "E1203", "E1133", "E1006", "E1109", "E1099", "E1168", "E1019", "E1260", "E1264", "E1013", "E1037", "E1061", "E1066", "E1059", "E1146", "E1098", "E1209", "E1266", "E1297", "E1317", "E1323", "E1238", "E1181", "E1314", "E1126"]}

Why: issuers: expected ['E06', 'E1006', 'E1013', 'E1019', 'E1037', 'E1039', 'E1059', 'E1061', 'E1066', 'E1088', 'E1098', 'E1099', 'E1109', 'E1126', 'E1132', 'E1133', 'E1146', 'E1168', 'E1181', 'E1194', 'E1203', 'E1209', 'E1238', 'E1242', 'E1260', 'E1264', 'E1266', 'E1267', 'E1297', 'E1314', 'E1317', 'E1323'], got ['E06', 'E1267', 'E1242', 'E1039', 'E1088', 'E1194', 'E1203', 'E1133', 'E1006', 'E1109', 'E1099', 'E1168', 'E1019', 'E1260', 'E1264', 'E1013', 'E1037', 'E1061', 'E1066', 'E1059', 'E1146', 'E1098', 'E1209', 'E1266', 'E1297', 'E1317', 'E1323', 'E1238', 'E1181', 'E1314', 'E1126']

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

32 issuers had their latest action as a Rating Watch Negative. E1019 and E1059 are included on the strength of their LC series only.

JSON: {"issuers": ["E06", "E1006", "E1013", "E1019", "E1037", "E1039", "E1059", "E1061", "E1066", "E1088", "E1098", "E1099", "E1109", "E1126", "E1132", "E1133", "E1146", "E1168", "E1181", "E1194", "E1203", "E1209", "E1238", "E1242", "E1260", "E1264", "E1266", "E1267", "E1297", "E1314", "E1317", "E1323"]}

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

32 issuers were on RWN on 1 October 2026 (IDs in the JSON). Example: E06 (A17).

JSON: {"issuers": ["E06", "E1267", "E1242", "E1039", "E1194", "E1203", "E1133", "E1088", "E1006", "E1099", "E1109", "E1264", "E1209", "E1168", "E1126", "E1260", "E1323", "E1061", "E1066", "E1098", "E1314", "E1266", "E1297", "E1317", "E1181", "E1013", "E1019", "E1037", "E1059", "E1132", "E1146", "E1238"]}

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

31 entities were on RWN, listed in the JSON. Each is an entity whose latest action was a Watch placement and had not been followed by a later action.

JSON: {"issuers": ["E06", "E1267", "E1242", "E1039", "E1088", "E1194", "E1203", "E1133", "E1006", "E1099", "E1109", "E1168", "E1181", "E1019", "E1264", "E1209", "E1126", "E1132", "E1098", "E1260", "E1266", "E1297", "E1066", "E1061", "E1037", "E1013", "E1059", "E1317", "E1323", "E1238", "E1314"]}

Why: issuers: expected ['E06', 'E1006', 'E1013', 'E1019', 'E1037', 'E1039', 'E1059', 'E1061', 'E1066', 'E1088', 'E1098', 'E1099', 'E1109', 'E1126', 'E1132', 'E1133', 'E1146', 'E1168', 'E1181', 'E1194', 'E1203', 'E1209', 'E1238', 'E1242', 'E1260', 'E1264', 'E1266', 'E1267', 'E1297', 'E1314', 'E1317', 'E1323'], got ['E06', 'E1267', 'E1242', 'E1039', 'E1088', 'E1194', 'E1203', 'E1133', 'E1006', 'E1099', 'E1109', 'E1168', 'E1181', 'E1019', 'E1264', 'E1209', 'E1126', 'E1132', 'E1098', 'E1260', 'E1266', 'E1297', 'E1066', 'E1061', 'E1037', 'E1013', 'E1059', 'E1317', 'E1323', 'E1238', 'E1314']

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

32 entities had a latest action that was a Watch Negative, including E06, E1006 and E1109. They are listed in the JSON. I included E1019 and E1059, whose watch is on the LC rating.

JSON: {"issuers": ["E06", "E1267", "E1242", "E1039", "E1133", "E1088", "E1168", "E1194", "E1203", "E1006", "E1109", "E1264", "E1099", "E1126", "E1019", "E1059", "E1013", "E1037", "E1061", "E1066", "E1098", "E1146", "E1181", "E1209", "E1238", "E1266", "E1297", "E1314", "E1317", "E1323", "E1260", "E1132"]}