Q33, run 2026-11-06-0041-sonnet-query

← back to the run

Whose credit risk does a holder of the Halden Leasing 2028 notes take, and how is it rated?

Tests: Roles: the guarantor is the parent, not the ultimate parent.

Expected: risk_of = E10 rating = BBB+

✅ D1 sql run 1 graded by code · query session

Halden Bank (E10), rated BBB+. I05 is issued by E11 but guaranteed by E10, whose rating was cut to BBB+ (A27), and I05 itself is also BBB+ (A29).

JSON: {"risk_of": "E10", "rating": "BBB+"}

✅ D1 sql run 2 graded by code · query session

E10 (Halden Bank), the guarantor of I05, currently rated BBB+ (A27).

JSON: {"risk_of": "E10", "rating": "BBB+"}

✅ D1 sql run 3 graded by code · query session

Halden Bank (E10), rated BBB+. I05 is issued by E11 but guaranteed by E10, and both the note (A29) and E10 (A27) are BBB+.

JSON: {"risk_of": "E10", "rating": "BBB+"}

✅ D1 sql run 4 graded by code · query session

E10, rated BBB+. I05 is guaranteed by E10, which was cut to BBB+ on 2026-04-15 (A27).

JSON: {"risk_of": "E10", "rating": "BBB+"}

✅ D1 sql run 5 graded by code · query session

The holder takes the credit risk of Halden Bank (E10), the guarantor of I05, rated BBB+. A29 downgraded I05 to BBB+.

JSON: {"risk_of": "E10", "rating": "BBB+"}

✅ D2 sql+markdown run 1 graded by code · query session

The holder takes E10's (Halden Bank) credit risk. I05 is guaranteed by E10 and is rated BBB+ after A29.

JSON: {"risk_of": "E10", "rating": "BBB+"}

✅ D2 sql+markdown run 2 graded by code · query session

E10 (Halden Bank AG), as the guarantor of I05. The note is rated BBB+ (A29), matching E10's BBB+ (A27).

JSON: {"risk_of": "E10", "rating": "BBB+"}

✅ D2 sql+markdown run 3 graded by code · query session

A holder takes the credit risk of E10, Halden Bank, the guarantor of I05. The note is rated BBB+ (A29).

JSON: {"risk_of": "E10", "rating": "BBB+"}

✅ D2 sql+markdown run 4 graded by code · query session

A holder takes the credit risk of E10 (Halden Bank), the guarantor of I05. The note is rated BBB+ (A29).

JSON: {"risk_of": "E10", "rating": "BBB+"}

✅ D2 sql+markdown run 5 graded by code · query session

The holder takes the credit risk of Halden Bank (E10), rated BBB+. I05 is guaranteed by E10, and A29 and A27 both show BBB+.

JSON: {"risk_of": "E10", "rating": "BBB+"}

✅ D4 sparql run 1 graded by code · query session

E10, rated BBB+. I05 is issued by E11 but guaranteed by E10, which was downgraded to BBB+ in A27.

JSON: {"risk_of": "E10", "rating": "BBB+"}

✅ D4 sparql run 2 graded by code · query session

Halden Bank (E10), rated BBB+. E10 guarantees I05, and I05 itself is also BBB+ (A29).

JSON: {"risk_of": "E10", "rating": "BBB+"}

✅ D4 sparql run 3 graded by code · query session

The guarantor, E10, rated BBB+ (A27). I05 is issued by E11 and guaranteed by E10.

JSON: {"risk_of": "E10", "rating": "BBB+"}

✅ D4 sparql run 4 graded by code · query session

The guarantor, E10, rated BBB+. I05 is issued by E11 and guaranteed by E10.

JSON: {"risk_of": "E10", "rating": "BBB+"}

✅ D4 sparql run 5 graded by code · query session

The risk is E10, the guarantor of I05 (issuer E11). E10 is currently rated BBB+ (A27).

JSON: {"risk_of": "E10", "rating": "BBB+"}

✅ D5 sparql+ontology run 1 graded by code · query session

E10, rated BBB+. Instrument I05 is guaranteed by E10, and A27 set E10 to BBB+.

JSON: {"risk_of": "E10", "rating": "BBB+"}

✅ D5 sparql+ontology run 2 graded by code · query session

The holder takes E10's credit risk (Halden Bank), the guarantor of I05, and the note is rated BBB+ (A29). The CO on E11 is not a rating.

JSON: {"risk_of": "E10", "rating": "BBB+"}

✅ D5 sparql+ontology run 3 graded by code · query session

The holder takes the credit risk of E10, rated BBB+. I05 is guaranteed by E10, whose rating is BBB+ after A27; the credit opinion on E11 is not a rating.

JSON: {"risk_of": "E10", "rating": "BBB+"}

✅ D5 sparql+ontology run 4 graded by code · query session

The holder takes E10's credit risk, rated BBB+. I05 is guaranteed by E10, whose FC rating is BBB+ (A27). The instrument's own rating is also BBB+ (A29).

JSON: {"risk_of": "E10", "rating": "BBB+"}

✅ D5 sparql+ontology run 5 graded by code · query session

The holder takes the credit risk of E10 (Halden Bank), the guarantor. The note I05 is rated BBB+ after the A29 downgrade.

JSON: {"risk_of": "E10", "rating": "BBB+"}

✅ D3 sql+executed run 1 graded by code · query session

Credit risk of E10 (Halden Bank), the guarantor of I05, which is rated BBB+ (A29).

JSON: {"risk_of": "E10", "rating": "BBB+"}

✅ D3 sql+executed run 2 graded by code · query session

The risk is E10's, rated BBB+. I05 is guaranteed by E10 (A29, BBB+ on both the note and E10's issuer rating, A27).

JSON: {"risk_of": "E10", "rating": "BBB+"}

✅ D3 sql+executed run 3 graded by code · query session

The holder takes E10's credit risk (Halden Bank, the guarantor), which is rated BBB+ (A27, A29).

JSON: {"risk_of": "E10", "rating": "BBB+"}

✅ D3 sql+executed run 4 graded by code · query session

E10 (Halden Bank) is the guarantor of I05, so a holder takes its credit risk. It is rated BBB+ (A27), the same as the note (A29).

JSON: {"risk_of": "E10", "rating": "BBB+"}

✅ D3 sql+executed run 5 graded by code · query session

E10 (Halden Bank) is the credit risk, rated BBB+. I05 is issued by E11 but guaranteed by E10, and the instrument is BBB+ (A29), as is E10 (A27).

JSON: {"risk_of": "E10", "rating": "BBB+"}

✅ D6 sparql+axioms run 1 graded by code · query session

E10, rated BBB+. I05 is guaranteed by E10 and its instrument rating is BBB+ (A29).

JSON: {"risk_of": "E10", "rating": "BBB+"}

✅ D6 sparql+axioms run 2 graded by code · query session

The credit risk of E10 (Halden Bank), which guarantees I05. It is rated BBB+ (A27).

JSON: {"risk_of": "E10", "rating": "BBB+"}

✅ D6 sparql+axioms run 3 graded by code · query session

E10, the guarantor, via I05. I05 is rated BBB+ (A29), as is E10 (A27).

JSON: {"risk_of": "E10", "rating": "BBB+"}

✅ D6 sparql+axioms run 4 graded by code · query session

Halden Bank (E10), rated BBB+. I05 is guaranteed by E10, which was downgraded on 2026-04-15 (A27).

JSON: {"risk_of": "E10", "rating": "BBB+"}

✅ D6 sparql+axioms run 5 graded by code · query session

E10, rated BBB+. I05 is guaranteed by E10, and A29 rates the note BBB+.

JSON: {"risk_of": "E10", "rating": "BBB+"}