D6 sparql+axioms, run 5: the query session
19 queries3 failed8 rounds
The opening prompt
## The data
You can't see the data, but you can query it. It is in an RDF store, described below. Write SPARQL 1.1 SELECT or ASK queries.
To run queries, reply with one or more fenced blocks (```sparql), 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.
Prefixes:
```
PREFIX skos: <http://www.w3.org/2004/02/skos/core#>
PREFIX rdf: <http://www.w3.org/1999/02/22-rdf-syntax-ns#>
PREFIX rdfs: <http://www.w3.org/2000/01/rdf-schema#>
PREFIX xsd: <http://www.w3.org/2001/XMLSchema#>
PREFIX lad: <https://example.org/ladder/>
```
Classes and the properties their resources use:
- `lad:Entity`: `rdf:type`, `rdfs:label`, `lad:ancestor`, `lad:country`, `lad:domicile`, `lad:entityType`, `lad:lei`, `lad:name`, `lad:parent`, `lad:parentEntity`, `lad:sameEntityAs`, `lad:sourceSystem`, `lad:ultimateParent`
- `lad:Instrument`: `rdf:type`, `rdfs:label`, `lad:creditRiskOf`, `lad:currency`, `lad:description`, `lad:guarantor`, `lad:issuer`, `lad:localCurrency`, `lad:maturity`, `lad:seniority`
- `lad:RatingAction`: `rdf:type`, `rdfs:label`, `lad:action`, `lad:ccyBasis`, `lad:comment`, `lad:date`, `lad:outlook`, `lad:ratedThing`, `lad:rating`, `lad:ratingType`, `lad:validTo`, `lad:watch`
- `lad:RatingInForce`: `rdf:type`, `rdfs:label`, `lad:action`, `lad:ccyBasis`, `lad:comment`, `lad:date`, `lad:outlook`, `lad:ratedThing`, `lad:rating`, `lad:ratingType`, `lad:watch`
The store holds the data after the rules of its axioms have run, with no definitions alongside. Besides the data's own properties, it holds what the rules derived: lad:sameEntityAs links the records of one entity; lad:domicile is the country that holds for an entity; lad:parentEntity, lad:ancestor and lad:ultimateParent give ownership entity by entity (an entity with no parent is its own ultimate parent); lad:validTo is when a rating stopped holding, and the class lad:RatingInForce holds the actions whose rating was in force on 1 October 2026; lad:creditRiskOf and lad:localCurrency describe instruments.
## 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 entities and instruments.
```sparql
PREFIX lad: <https://example.org/ladder/>
PREFIX rdfs: <http://www.w3.org/2000/01/rdf-schema#>
SELECT ?s ?p ?o WHERE { ?s a ?c . VALUES ?c { lad:Entity lad:Instrument } ?s ?p ?o } ORDER BY ?s ?p
```Query results
Query 1:
| s | p | o |
|---|---|---|
| lad:CV | rdf:type | lad:Entity |
| lad:CV | rdfs:label | Republic of Corvenia |
| lad:CV | lad:country | CV |
| lad:CV | lad:domesticCurrency | CVK |
| lad:CV | lad:domicile | CV |
| lad:CV | lad:entityType | lad:etype-SOV |
| lad:CV | lad:name | Republic of Corvenia |
| lad:CV | lad:sourceSystem | RATINGS |
| lad:CV | lad:ultimateParent | lad:CV |
| lad:E01 | rdf:type | lad:Entity |
| lad:E01 | rdfs:label | Kestrel Energy plc |
| lad:E01 | lad:country | GB |
| lad:E01 | lad:domicile | GB |
| lad:E01 | lad:entityType | lad:etype-CORP |
| lad:E01 | lad:lei | 7245002OOPBG04092E43 |
| lad:E01 | lad:name | Kestrel Energy plc |
| lad:E01 | lad:sourceSystem | RATINGS |
| lad:E01 | lad:ultimateParent | lad:E01 |
| lad:E02 | rdf:type | lad:Entity |
| lad:E02 | rdfs:label | Northwind Holdings plc |
| lad:E02 | lad:country | GB |
| lad:E02 | lad:domicile | GB |
| lad:E02 | lad:entityType | lad:etype-CORP |
| lad:E02 | lad:lei | 213800PHEIYNJMHTDV74 |
| lad:E02 | lad:name | Northwind Holdings plc |
| lad:E02 | lad:sameEntityAs | lad:E03 |
| lad:E02 | lad:sourceSystem | RATINGS |
| lad:E02 | lad:ultimateParent | lad:E02 |
| lad:E03 | rdf:type | lad:Entity |
| lad:E03 | rdfs:label | NORTHWIND HLDGS |
| lad:E03 | lad:country | GB |
| lad:E03 | lad:domicile | GB |
| lad:E03 | lad:entityType | lad:etype-CORP |
| lad:E03 | lad:lei | 213800PHEIYNJMHTDV74 |
| lad:E03 | lad:name | NORTHWIND HLDGS |
| lad:E03 | lad:sameEntityAs | lad:E02 |
| lad:E03 | lad:sourceSystem | RESEARCH |
| lad:E03 | lad:ultimateParent | lad:E03 |
| lad:E04 | rdf:type | lad:Entity |
| lad:E04 | rdfs:label | Northwind Finance BV |
| lad:E04 | lad:ancestor | lad:E03 |
| lad:E04 | lad:ancestor | lad:E02 |
| lad:E04 | lad:country | NL |
| lad:E04 | lad:domicile | NL |
| lad:E04 | lad:entityType | lad:etype-FINSUB |
| lad:E04 | lad:lei | 213800LA5RYJLGXV2T85 |
| lad:E04 | lad:name | Northwind Finance BV |
| lad:E04 | lad:parent | lad:E02 |
| lad:E04 | lad:parentEntity | lad:E03 |
| lad:E04 | lad:parentEntity | lad:E02 |
| lad:E04 | lad:sourceSystem | RATINGS |
| lad:E04 | lad:ultimateParent | lad:E02 |
| lad:E04 | lad:ultimateParent | lad:E03 |
| lad:E05 | rdf:type | lad:Entity |
| lad:E05 | rdfs:label | Valdoria Telecom SA |
| lad:E05 | lad:country | VD |
| lad:E05 | lad:domicile | VD |
| lad:E05 | lad:entityType | lad:etype-CORP |
| lad:E05 | lad:lei | 391200LESH03LMOY2U61 |
| lad:E05 | lad:name | Valdoria Telecom SA |
(4530 more rows not shown)
Run more queries, or give the final answers.The model
<parameter name="query">PREFIX lad: <https://example.org/ladder/>
PREFIX rdfs: <http://www.w3.org/2000/01/rdf-schema#>
SELECT ?s ?l ?dom ?ult ?same ?type WHERE { ?s a lad:Entity . OPTIONAL{?s rdfs:label ?l} OPTIONAL{?s lad:domicile ?dom} OPTIONAL{?s lad:ultimateParent ?ult} OPTIONAL{?s lad:sameEntityAs ?same} OPTIONAL{?s lad:entityType ?type}} ORDER BY ?s</parameter>
```sparql
PREFIX lad: <https://example.org/ladder/>
PREFIX rdfs: <http://www.w3.org/2000/01/rdf-schema#>
SELECT ?s ?l ?dom ?ult ?same ?type ?par WHERE { ?s a lad:Entity . OPTIONAL{?s rdfs:label ?l} OPTIONAL{?s lad:domicile ?dom} OPTIONAL{?s lad:ultimateParent ?ult} OPTIONAL{?s lad:sameEntityAs ?same} OPTIONAL{?s lad:entityType ?type} OPTIONAL{?s lad:parent ?par}} ORDER BY ?s
```Query results
Query 1:
| s | l | dom | ult | same | type | par |
|---|---|---|---|---|---|---|
| lad:CV | Republic of Corvenia | CV | lad:CV | | lad:etype-SOV | |
| lad:E01 | Kestrel Energy plc | GB | lad:E01 | | lad:etype-CORP | |
| lad:E02 | Northwind Holdings plc | GB | lad:E02 | lad:E03 | lad:etype-CORP | |
| lad:E03 | NORTHWIND HLDGS | GB | lad:E03 | lad:E02 | lad:etype-CORP | |
| lad:E04 | Northwind Finance BV | NL | lad:E02 | | lad:etype-FINSUB | lad:E02 |
| lad:E04 | Northwind Finance BV | NL | lad:E03 | | lad:etype-FINSUB | lad:E02 |
| lad:E05 | Valdoria Telecom SA | VD | lad:E05 | | lad:etype-CORP | |
| lad:E06 | Orrin Bank AG | DE | lad:E06 | | lad:etype-BANK | |
| lad:E07 | Pellam Retail Ltd | GB | lad:E07 | | lad:etype-CORP | |
| lad:E08 | Saxby Shipping SA | GR | lad:E08 | | lad:etype-CORP | |
| lad:E09 | Halden Group plc | GB | lad:E09 | | lad:etype-CORP | |
| lad:E10 | Halden Bank AG | LU | lad:E09 | lad:E17 | lad:etype-BANK | lad:E09 |
| lad:E1001 | Tunod Steel SA | FR | lad:E1001 | lad:E1002 | lad:etype-CORP | |
| lad:E1002 | TUNOD STEEL SA | FR | lad:E1002 | lad:E1001 | lad:etype-CORP | |
| lad:E1003 | Rilol Telecom plc | GB | lad:E1003 | | lad:etype-BANK | |
| lad:E1004 | Munem Retail SA | ES | lad:E1004 | | lad:etype-CORP | |
| lad:E1005 | Setan Airlines Inc | US | lad:E1005 | | lad:etype-CORP | |
| lad:E1006 | Soson Airlines Inc | US | lad:E1005 | | lad:etype-CORP | lad:E1005 |
| lad:E1007 | Golod Property plc | GB | lad:E1007 | | lad:etype-BANK | |
| lad:E1008 | Sotil Retail plc | GB | lad:E1008 | | lad:etype-CORP | |
| lad:E1009 | Malam Chemicals Inc | US | lad:E1009 | | lad:etype-CORP | |
| lad:E1010 | Buvir Industries Inc | US | lad:E1010 | | lad:etype-CORP | |
| lad:E1011 | Falom Media Inc | US | lad:E1011 | | lad:etype-BANK | |
| lad:E1012 | Posad Industries SA | FR | lad:E1012 | | lad:etype-CORP | |
| lad:E1013 | Pisol Pharma BV | NL | lad:E1004 | | lad:etype-BANK | lad:E1004 |
| lad:E1014 | Toral Utilities BV | NL | lad:E1014 | | lad:etype-CORP | |
| lad:E1015 | Civen Steel Inc | US | lad:E1015 | | lad:etype-CORP | |
| lad:E1016 | Ponar Telecom SA | ES | lad:E1016 | | lad:etype-BANK | |
| lad:E1017 | Nisid Steel SA | FR | lad:E1017 | | lad:etype-BANK | |
| lad:E1018 | Tosem Mining Inc | US | lad:E1018 | | lad:etype-CORP | |
| lad:E1019 | Losol Mining SA | CV | lad:E1019 | | lad:etype-CORP | |
| lad:E1020 | Finel Media AG | DE | lad:E1020 | | lad:etype-CORP | |
| lad:E1021 | Niner Pharma plc | GB | lad:E1021 | lad:E1022 | lad:etype-CORP | |
| lad:E1022 | NINER PHARMA | GB | lad:E1022 | lad:E1021 | lad:etype-CORP | |
| lad:E1023 | Heled Water plc | GB | lad:E1023 | | lad:etype-CORP | |
| lad:E1024 | Susin Shipping BV | NL | lad:E1024 | | lad:etype-CORP | |
| lad:E1025 | Tulol Shipping SA | ES | lad:E1025 | | lad:etype-BANK | |
| lad:E1026 | Vunam Water BV | NL | lad:E1026 | | lad:etype-CORP | |
| lad:E1027 | Tesad Media Inc | US | lad:E1027 | | lad:etype-CORP | |
| lad:E1028 | Mutir Retail SA | VD | lad:E1028 | | lad:etype-CORP | |
| lad:E1029 | Leson Telecom Inc | US | lad:E1029 | lad:E1030 | lad:etype-BANK | |
| lad:E1030 | LESON TELECOM INC | US | lad:E1030 | lad:E1029 | lad:etype-BANK | |
| lad:E1031 | Kuvir Logistics SA | ES | lad:E1031 | | lad:etype-CORP | |
| lad:E1032 | Helom Chemicals BV | NL | lad:E1032 | | lad:etype-BANK | |
| lad:E1033 | Kunid Pharma SA | ES | lad:E1004 | | lad:etype-CORP | lad:E1004 |
| lad:E1034 | Tanad Capital SpA | IT | lad:E1034 | | lad:etype-CORP | |
| lad:E1035 | Kavod Utilities AG | DE | lad:E1035 | | lad:etype-CORP | |
| lad:E1036 | Lilor Retail AG | DE | lad:E1036 | | lad:etype-CORP | |
| lad:E1037 | Natil Retail SA | FR | lad:E1037 | | lad:etype-CORP | |
| lad:E1038 | Lanon Telecom BV | NL | lad:E1038 | | lad:etype-CORP | |
| lad:E1039 | Pulor Airlines SA | CV | lad:E1039 | | lad:etype-BANK | |
| lad:E1040 | Dorid Mining AG | DE | lad:E1040 | | lad:etype-CORP | |
| lad:E1041 | Hiral Steel SA | ES | lad:E1041 | | lad:etype-CORP | |
| lad:E1042 | Rerod Steel BV | NL | lad:E1042 | | lad:etype-CORP | |
| lad:E1043 | Vitom Property plc | GB | lad:E1043 | | lad:etype-CORP | |
| lad:E1044 | Hesid Telecom Inc | US | lad:E1044 | | lad:etype-BANK | |
| lad:E1045 | Nesid Logistics Inc | US | lad:E1045 | | lad:etype-BANK | |
| lad:E1046 | Ditin Shipping Inc | US | lad:E1026 | | lad:etype-BANK | lad:E1026 |
| lad:E1047 | Vaved Pharma plc | GB | lad:E1020 | | lad:etype-CORP | lad:E1020 |
| lad:E1048 | Lised Pharma AG | DE | lad:E1048 | | lad:etype-CORP | |
(312 more rows not shown)
Run more queries, or give the final answers.The model
```sparql
PREFIX lad: <https://example.org/ladder/>
PREFIX rdfs: <http://www.w3.org/2000/01/rdf-schema#>
SELECT ?s ?l ?dom ?ult ?same ?type ?par WHERE { ?s a lad:Entity . FILTER(REGEXP(STR(?s),"E(0[0-9]|1[0-9]|2[0-9])$|CV|VD")) OPTIONAL{?s rdfs:label ?l} OPTIONAL{?s lad:domicile ?dom} OPTIONAL{?s lad:ultimateParent ?ult} OPTIONAL{?s lad:sameEntityAs ?same} OPTIONAL{?s lad:entityType ?type} OPTIONAL{?s lad:parent ?par}} ORDER BY ?s
```
```sparql
PREFIX lad: <https://example.org/ladder/>
PREFIX rdfs: <http://www.w3.org/2000/01/rdf-schema#>
SELECT ?s ?l ?iss ?g ?ccy ?lc ?mat ?sen ?cr ?d WHERE { ?s a lad:Instrument . FILTER(!REGEXP(STR(?s),"I1[0-9][0-9][0-9]")) OPTIONAL{?s rdfs:label ?l} OPTIONAL{?s lad:issuer ?iss} OPTIONAL{?s lad:guarantor ?g} OPTIONAL{?s lad:currency ?ccy} OPTIONAL{?s lad:localCurrency ?lc} OPTIONAL{?s lad:maturity ?mat} OPTIONAL{?s lad:seniority ?sen} OPTIONAL{?s lad:creditRiskOf ?cr} OPTIONAL{?s lad:description ?d}} ORDER BY ?s
```Query results
Query 1 failed: Expected SelectQuery, found 'FILTER' (at char 161), (line:3, col:67)
Query 2 failed: Expected SelectQuery, found 'FILTER' (at char 172), (line:3, col:78)
Run more queries, or give the final answers.The model
<invoke name="none">
</invoke>
```sparql
PREFIX lad: <https://example.org/ladder/>
PREFIX rdfs: <http://www.w3.org/2000/01/rdf-schema#>
SELECT ?s ?l ?iss ?g ?ccy ?lc ?mat ?sen ?cr WHERE { ?s a lad:Instrument . OPTIONAL{?s rdfs:label ?l} OPTIONAL{?s lad:issuer ?iss} OPTIONAL{?s lad:guarantor ?g} OPTIONAL{?s lad:currency ?ccy} OPTIONAL{?s lad:localCurrency ?lc} OPTIONAL{?s lad:maturity ?mat} OPTIONAL{?s lad:seniority ?sen} OPTIONAL{?s lad:creditRiskOf ?cr} FILTER(!REGEXP(STR(?s),"I1[0-9][0-9][0-9]")) } ORDER BY ?s
```Query results
Query 1 failed: Expected SelectQuery, found 'FILTER' (at char 418), (line:3, col:324)
Run more queries, or give the final answers.The model
```sparql
PREFIX lad: <https://example.org/ladder/>
PREFIX rdfs: <http://www.w3.org/2000/01/rdf-schema#>
SELECT ?s ?l ?iss ?g ?ccy ?lc ?mat ?sen ?cr WHERE { ?s a lad:Instrument . OPTIONAL{?s rdfs:label ?l} OPTIONAL{?s lad:issuer ?iss} OPTIONAL{?s lad:guarantor ?g} OPTIONAL{?s lad:currency ?ccy} OPTIONAL{?s lad:localCurrency ?lc} OPTIONAL{?s lad:maturity ?mat} OPTIONAL{?s lad:seniority ?sen} OPTIONAL{?s lad:creditRiskOf ?cr} } ORDER BY ?s LIMIT 40
```Query results
Query 1:
| s | l | iss | g | ccy | lc | mat | sen | cr |
|---|---|---|---|---|---|---|---|---|
| lad:I01 | Kestrel Energy 4.50% 2030 | lad:E01 | | GBP | true | 2030-03-15 | lad:seniority-SU | lad:E01 |
| lad:I02 | Kestrel Energy 6.25% 2031 | lad:E01 | | GBP | true | 2031-09-30 | lad:seniority-SUB | lad:E01 |
| lad:I03 | Northwind Finance 3.75% 2030 | lad:E04 | lad:E02 | EUR | true | 2030-05-01 | lad:seniority-SU | lad:E02 |
| lad:I04 | Valdoria Telecom 5.00% 2029 | lad:E05 | | USD | false | 2029-11-20 | lad:seniority-SU | lad:E05 |
| lad:I05 | Halden Leasing 2.90% 2028 | lad:E11 | lad:E10 | EUR | true | 2028-06-30 | lad:seniority-SU | lad:E10 |
| lad:I06 | Corvenia Power 7.10% 2032 | lad:E15 | | USD | false | 2032-02-15 | lad:seniority-SUB | lad:E15 |
| lad:I07 | Valdoria Telecom 4.25% 2027 | lad:E05 | | XVD | true | 2027-08-31 | lad:seniority-SU | lad:E05 |
| lad:I08 | Corvenia Power 6.00% 2034 | lad:E15 | | USD | false | 2034-09-01 | lad:seniority-SU | lad:E15 |
| lad:I1001 | Soson Airlines 5.50% 2031 | lad:E1006 | | USD | true | 2035-06-30 | lad:seniority-SUB | lad:E1006 |
| lad:I1002 | Golod Property 8.75% 2031 | lad:E1007 | | USD | false | 2033-06-30 | lad:seniority-SU | lad:E1007 |
| lad:I1003 | Sotil Retail 3.00% 2031 | lad:E1008 | | GBP | true | 2034-06-30 | lad:seniority-SU | lad:E1008 |
| lad:I1004 | Malam Chemicals 2.25% 2035 | lad:E1009 | | USD | true | 2028-06-30 | lad:seniority-SU | lad:E1009 |
| lad:I1005 | Posad Industries 4.00% 2033 | lad:E1012 | | EUR | true | 2031-06-30 | lad:seniority-SU | lad:E1012 |
| lad:I1006 | Pisol Pharma 4.75% 2030 | lad:E1013 | | USD | false | 2030-06-30 | lad:seniority-SUB | lad:E1013 |
| lad:I1007 | Toral Utilities 7.75% 2028 | lad:E1014 | | EUR | true | 2033-06-30 | lad:seniority-SU | lad:E1014 |
| lad:I1008 | Ponar Telecom 4.75% 2035 | lad:E1016 | | EUR | true | 2033-06-30 | lad:seniority-SU | lad:E1016 |
| lad:I1009 | Tosem Mining 2.75% 2031 | lad:E1018 | | USD | true | 2036-06-30 | lad:seniority-SUB | lad:E1018 |
| lad:I1010 | Finel Media 6.50% 2035 | lad:E1020 | | EUR | true | 2036-06-30 | lad:seniority-SU | lad:E1020 |
| lad:I1011 | Niner Pharma 3.25% 2029 | lad:E1021 | | USD | false | 2035-06-30 | lad:seniority-SU | lad:E1021 |
| lad:I1012 | Heled Water 6.25% 2030 | lad:E1023 | | GBP | true | 2031-06-30 | lad:seniority-SU | lad:E1023 |
| lad:I1013 | Kuvir Logistics 2.00% 2027 | lad:E1031 | | EUR | true | 2027-06-30 | lad:seniority-SU | lad:E1031 |
| lad:I1014 | Kavod Utilities 2.50% 2032 | lad:E1035 | | USD | false | 2036-06-30 | lad:seniority-SU | lad:E1035 |
| lad:I1015 | Lanon Telecom 4.75% 2033 | lad:E1038 | | EUR | true | 2032-06-30 | lad:seniority-SUB | lad:E1038 |
| lad:I1016 | Hiral Steel 6.00% 2035 | lad:E1041 | | USD | false | 2034-06-30 | lad:seniority-SU | lad:E1041 |
| lad:I1017 | Lised Pharma 4.50% 2036 | lad:E1048 | | EUR | true | 2029-06-30 | lad:seniority-SU | lad:E1048 |
| lad:I1018 | Paser Utilities 3.75% 2027 | lad:E1049 | | GBP | true | 2034-06-30 | lad:seniority-SUB | lad:E1049 |
| lad:I1019 | Sunar Holdings 8.50% 2036 | lad:E1050 | | USD | false | 2034-06-30 | lad:seniority-SUB | lad:E1050 |
| lad:I1020 | Witad Steel 5.00% 2033 | lad:E1052 | | EUR | true | 2027-06-30 | lad:seniority-SU | lad:E1052 |
| lad:I1021 | Duver Shipping 8.50% 2032 | lad:E1056 | | EUR | true | 2030-06-30 | lad:seniority-SU | lad:E1056 |
| lad:I1022 | Levem Foods 6.50% 2035 | lad:E1067 | | EUR | true | 2030-06-30 | lad:seniority-SUB | lad:E1067 |
| lad:I1023 | Mored Utilities 4.25% 2032 | lad:E1071 | | USD | false | 2033-06-30 | lad:seniority-SUB | lad:E1071 |
| lad:I1024 | Ganed Holdings 5.75% 2035 | lad:E1077 | | EUR | true | 2032-06-30 | lad:seniority-SU | lad:E1077 |
| lad:I1025 | Menir Shipping 7.50% 2028 | lad:E1078 | | EUR | false | 2034-06-30 | lad:seniority-SUB | lad:E1078 |
| lad:I1026 | Nevar Property 6.75% 2036 | lad:E1079 | | GBP | true | 2028-06-30 | lad:seniority-SU | lad:E1079 |
| lad:I1027 | Gilen Capital 2.00% 2031 | lad:E1082 | | USD | true | 2034-06-30 | lad:seniority-SUB | lad:E1082 |
| lad:I1028 | Givim Mining 5.75% 2036 | lad:E1085 | | EUR | true | 2034-06-30 | lad:seniority-SU | lad:E1085 |
| lad:I1029 | Gorar Steel 7.25% 2033 | lad:E1086 | | USD | true | 2035-06-30 | lad:seniority-SUB | lad:E1086 |
| lad:I1030 | Vitid Holdings 5.75% 2032 | lad:E1087 | | EUR | true | 2034-06-30 | lad:seniority-SU | lad:E1087 |
| lad:I1031 | Koved Holdings 2.50% 2032 | lad:E1088 | | EUR | true | 2033-06-30 | lad:seniority-SUB | lad:E1088 |
| lad:I1032 | Getel Utilities 7.25% 2033 | lad:E1090 | | USD | false | 2032-06-30 | lad:seniority-SU | lad:E1090 |
Run more queries, or give the final answers.The model
<invoke name="none">
</invoke>
```sparql
PREFIX lad: <https://example.org/ladder/>
PREFIX rdfs: <http://www.w3.org/2000/01/rdf-schema#>
SELECT ?a ?t ?th ?rt ?r ?d ?vt ?act ?ob ?w ?basis ?c WHERE { VALUES ?th { lad:E01 lad:E02 lad:E03 lad:E04 lad:E05 lad:E06 lad:E07 lad:E08 lad:E09 lad:E10 lad:E11 lad:E12 lad:E13 lad:E14 lad:E15 lad:E16 lad:E17 lad:CV lad:VD lad:I01 lad:I02 lad:I03 lad:I04 lad:I05 lad:I06 lad:I07 lad:I08 } ?a lad:ratedThing ?th . ?a a ?t . OPTIONAL{?a lad:ratingType ?rt} OPTIONAL{?a lad:rating ?r} OPTIONAL{?a lad:date ?d} OPTIONAL{?a lad:validTo ?vt} OPTIONAL{?a lad:action ?act} OPTIONAL{?a lad:outlook ?ob} OPTIONAL{?a lad:watch ?w} OPTIONAL{?a lad:ccyBasis ?basis} OPTIONAL{?a lad:comment ?c} } ORDER BY ?th ?d ?t
```Query results
Query 1:
| a | t | th | rt | r | d | vt | act | ob | w | basis | c |
|---|---|---|---|---|---|---|---|---|---|---|---|
| lad:A37 | lad:RatingAction | lad:CV | lad:type-CC | A | 2024-01-01 | | lad:action-AS | | | | |
| lad:A38 | lad:RatingAction | lad:CV | lad:type-LTIDR | BBB+ | 2024-01-01 | | lad:action-AS | lad:outlook-STA | | lad:basis-FC | |
| lad:A39 | lad:RatingAction | lad:CV | lad:type-LTIDR | A- | 2024-01-01 | | lad:action-AS | lad:outlook-STA | | lad:basis-LC | |
| lad:A37 | lad:RatingInForce | lad:CV | lad:type-CC | A | 2024-01-01 | | lad:action-AS | | | | |
| lad:A38 | lad:RatingInForce | lad:CV | lad:type-LTIDR | BBB+ | 2024-01-01 | | lad:action-AS | lad:outlook-STA | | lad:basis-FC | |
| lad:A39 | lad:RatingInForce | lad:CV | lad:type-LTIDR | A- | 2024-01-01 | | lad:action-AS | lad:outlook-STA | | lad:basis-LC | |
| lad:A01 | lad:RatingAction | lad:E01 | lad:type-LTIDR | A- | 2024-03-12 | 2025-06-20 | lad:action-AS | lad:outlook-STA | | lad:basis-FC | |
| lad:A02 | lad:RatingAction | lad:E01 | lad:type-LTIDR | BBB | 2025-06-20 | 2026-02-10 | lad:action-DG | lad:outlook-STA | | lad:basis-FC | weaker cash flow after asset sale |
| lad:A03 | lad:RatingAction | lad:E01 | lad:type-LTIDR | BBB | 2026-02-10 | | lad:action-AF | lad:outlook-NEG | | lad:basis-FC | |
| lad:A04 | lad:RatingAction | lad:E01 | lad:type-STIDR | F2 | 2026-02-10 | | lad:action-AF | | | lad:basis-FC | |
| lad:A03 | lad:RatingInForce | lad:E01 | lad:type-LTIDR | BBB | 2026-02-10 | | lad:action-AF | lad:outlook-NEG | | lad:basis-FC | |
| lad:A04 | lad:RatingInForce | lad:E01 | lad:type-STIDR | F2 | 2026-02-10 | | lad:action-AF | | | lad:basis-FC | |
| lad:A08 | lad:RatingAction | lad:E02 | lad:type-LTIDR | A | 2023-11-01 | 2025-09-15 | lad:action-AS | lad:outlook-STA | | lad:basis-FC | |
| lad:A09 | lad:RatingAction | lad:E03 | lad:type-LTIDR | A | 2025-09-15 | | lad:action-AF | lad:outlook-POS | | lad:basis-FC | |
| lad:A09 | lad:RatingInForce | lad:E03 | lad:type-LTIDR | A | 2025-09-15 | | lad:action-AF | lad:outlook-POS | | lad:basis-FC | |
| lad:A13 | lad:RatingAction | lad:E05 | lad:type-LTIDR | BBB- | 2025-04-01 | | lad:action-AS | lad:outlook-STA | | lad:basis-LC | |
| lad:A14 | lad:RatingAction | lad:E05 | lad:type-LTIDR | BB | 2025-04-01 | | lad:action-AS | lad:outlook-STA | | lad:basis-FC | |
| lad:A13 | lad:RatingInForce | lad:E05 | lad:type-LTIDR | BBB- | 2025-04-01 | | lad:action-AS | lad:outlook-STA | | lad:basis-LC | |
| lad:A14 | lad:RatingInForce | lad:E05 | lad:type-LTIDR | BB | 2025-04-01 | | lad:action-AS | lad:outlook-STA | | lad:basis-FC | |
| lad:A16 | lad:RatingAction | lad:E06 | lad:type-LTIDR | A- | 2024-05-01 | 2026-09-03 | lad:action-AS | lad:outlook-STA | | lad:basis-FC | |
| lad:A17 | lad:RatingAction | lad:E06 | lad:type-LTIDR | A- | 2026-09-03 | | lad:action-RW | | lad:watch-RWN | lad:basis-FC | |
| lad:A17 | lad:RatingInForce | lad:E06 | lad:type-LTIDR | A- | 2026-09-03 | | lad:action-RW | | lad:watch-RWN | lad:basis-FC | |
| lad:A18 | lad:RatingAction | lad:E07 | lad:type-LTIDR | BB | 2024-01-10 | 2026-05-12 | lad:action-AS | lad:outlook-STA | | lad:basis-FC | |
| lad:A19 | lad:RatingAction | lad:E07 | lad:type-LTIDR | WD | 2026-05-12 | | lad:action-WD | | | lad:basis-FC | commercial reasons |
| lad:A20 | lad:RatingAction | lad:E08 | lad:type-LTIDR | B | 2024-06-01 | 2026-01-20 | lad:action-AS | lad:outlook-STA | | lad:basis-FC | |
| lad:A21 | lad:RatingAction | lad:E08 | lad:type-LTIDR | CCC | 2026-01-20 | 2026-07-08 | lad:action-DG | | | lad:basis-FC | |
| lad:A22 | lad:RatingAction | lad:E08 | lad:type-LTIDR | RD | 2026-07-08 | | lad:action-DG | | | lad:basis-FC | distressed debt exchange completed |
| lad:A22 | lad:RatingInForce | lad:E08 | lad:type-LTIDR | RD | 2026-07-08 | | lad:action-DG | | | lad:basis-FC | distressed debt exchange completed |
| lad:A24 | lad:RatingAction | lad:E09 | lad:type-LTIDR | A | 2023-05-01 | 2026-03-01 | lad:action-AS | lad:outlook-STA | | lad:basis-FC | |
| lad:A25 | lad:RatingAction | lad:E09 | lad:type-LTIDR | A | 2026-03-01 | | lad:action-AF | lad:outlook-NEG | | lad:basis-FC | |
| lad:A25 | lad:RatingInForce | lad:E09 | lad:type-LTIDR | A | 2026-03-01 | | lad:action-AF | lad:outlook-NEG | | lad:basis-FC | |
| lad:A26 | lad:RatingAction | lad:E10 | lad:type-LTIDR | A- | 2023-05-01 | 2026-04-15 | lad:action-AS | lad:outlook-STA | | lad:basis-FC | support from parent |
| lad:A27 | lad:RatingAction | lad:E10 | lad:type-LTIDR | BBB+ | 2026-04-15 | | lad:action-DG | lad:outlook-STA | | lad:basis-FC | |
| lad:A27 | lad:RatingInForce | lad:E10 | lad:type-LTIDR | BBB+ | 2026-04-15 | | lad:action-DG | lad:outlook-STA | | lad:basis-FC | |
| lad:A46 | lad:RatingAction | lad:E11 | lad:type-CO | BBB | 2025-02-01 | | lad:action-AS | | | | |
| lad:A30 | lad:RatingAction | lad:E12 | lad:type-LTIDR | BB- | 2024-02-01 | 2025-08-01 | lad:action-AS | lad:outlook-STA | | lad:basis-FC | |
| lad:A31 | lad:RatingAction | lad:E12 | lad:type-LTIDR | BB | 2025-08-01 | | lad:action-UG | lad:outlook-STA | | lad:basis-FC | |
| lad:A31 | lad:RatingInForce | lad:E12 | lad:type-LTIDR | BB | 2025-08-01 | | lad:action-UG | lad:outlook-STA | | lad:basis-FC | |
| lad:A32 | lad:RatingAction | lad:E13 | lad:type-LTIDR | BBB | 2024-07-01 | | lad:action-AS | lad:outlook-STA | | lad:basis-FC | |
| lad:A32 | lad:RatingInForce | lad:E13 | lad:type-LTIDR | BBB | 2024-07-01 | | lad:action-AS | lad:outlook-STA | | lad:basis-FC | |
| lad:A34 | lad:RatingAction | lad:E14 | lad:type-LTIDR | A- | 2023-01-15 | 2024-09-30 | lad:action-AS | lad:outlook-STA | | lad:basis-FC | |
| lad:A36 | lad:RatingAction | lad:E14 | lad:type-LTIDR | BBB+ | 2024-09-30 | 2025-11-20 | lad:action-DG | lad:outlook-STA | | lad:basis-FC | |
| lad:A35 | lad:RatingAction | lad:E14 | lad:type-LTIDR | BBB+ | 2025-11-20 | 2026-05-01 | lad:action-RW | | lad:watch-RWN | lad:basis-FC | |
| lad:A33 | lad:RatingAction | lad:E14 | lad:type-LTIDR | BBB+ | 2026-05-01 | | lad:action-AF | lad:outlook-STA | | lad:basis-FC | |
| lad:A33 | lad:RatingInForce | lad:E14 | lad:type-LTIDR | BBB+ | 2026-05-01 | | lad:action-AF | lad:outlook-STA | | lad:basis-FC | |
| lad:A40 | lad:RatingAction | lad:E15 | lad:type-LTIDR | A+ | 2024-03-01 | | lad:action-AS | lad:outlook-STA | | lad:basis-LC | |
| lad:A41 | lad:RatingAction | lad:E15 | lad:type-LTIDR | A | 2024-03-01 | | lad:action-AS | lad:outlook-STA | | lad:basis-FC | |
| lad:A40 | lad:RatingInForce | lad:E15 | lad:type-LTIDR | A+ | 2024-03-01 | | lad:action-AS | lad:outlook-STA | | lad:basis-LC | |
| lad:A41 | lad:RatingInForce | lad:E15 | lad:type-LTIDR | A | 2024-03-01 | | lad:action-AS | lad:outlook-STA | | lad:basis-FC | |
| lad:A43 | lad:RatingAction | lad:E16 | lad:type-LTIDR | BBB- | 2024-04-01 | 2026-06-01 | lad:action-AS | lad:outlook-STA | | lad:basis-FC | |
| lad:A44 | lad:RatingAction | lad:E16 | lad:type-LTIDR | BB+ | 2026-06-01 | | lad:action-DG | lad:outlook-STA | | lad:basis-FC | |
| lad:A05 | lad:RatingAction | lad:I01 | lad:type-INST | A- | 2024-03-12 | 2025-06-20 | lad:action-AS | | | | |
| lad:A06 | lad:RatingAction | lad:I01 | lad:type-INST | BBB | 2025-06-20 | | lad:action-DG | | | | |
| lad:A06 | lad:RatingInForce | lad:I01 | lad:type-INST | BBB | 2025-06-20 | | lad:action-DG | | | | |
| lad:A23 | lad:RatingAction | lad:I02 | lad:type-INST | BBB | 2024-03-12 | 2025-06-20 | lad:action-AS | | | | |
| lad:A07 | lad:RatingAction | lad:I02 | lad:type-INST | BB+ | 2025-06-20 | | lad:action-DG | | | | |
| lad:A07 | lad:RatingInForce | lad:I02 | lad:type-INST | BB+ | 2025-06-20 | | lad:action-DG | | | | |
| lad:A10 | lad:RatingAction | lad:I03 | lad:type-INST | A | 2023-11-01 | 2025-09-15 | lad:action-AS | | | | |
| lad:A11 | lad:RatingAction | lad:I03 | lad:type-INST | A | 2025-09-15 | | lad:action-AF | | | | |
| lad:A11 | lad:RatingInForce | lad:I03 | lad:type-INST | A | 2025-09-15 | | lad:action-AF | | | | |
(12 more rows not shown)
Run more queries, or give the final answers.The model
The last results look inconsistent, so I'm re-checking them. E14 and E06 both show as "Orrin Bank AG", and many Halden entities link to E17 as the same entity. I'll query the labels and links again, along with the counts.
```sparql
PREFIX lad: <https://example.org/ladder/>
PREFIX rdfs: <http://www.w3.org/2000/01/rdf-schema#>
SELECT ?s ?p ?o WHERE { VALUES ?s { lad:E06 lad:E14 lad:E17 lad:E10 } ?s ?p ?o } ORDER BY ?s ?p
```
```sparql
PREFIX lad: <https://example.org/ladder/>
SELECT ?a ?th ?rt ?r ?d ?act ?ob ?w ?basis WHERE { VALUES ?th { lad:E17 lad:VD lad:I04 lad:I05 lad:I06 lad:I07 lad:I08 lad:E11 } ?a a lad:RatingAction ; lad:ratedThing ?th . OPTIONAL{?a lad:ratingType ?rt} OPTIONAL{?a lad:rating ?r} OPTIONAL{?a lad:date ?d} OPTIONAL{?a lad:action ?act} OPTIONAL{?a lad:outlook ?ob} OPTIONAL{?a lad:watch ?w} OPTIONAL{?a lad:ccyBasis ?basis} } ORDER BY ?th ?d
```
```sparql
PREFIX lad: <https://example.org/ladder/>
SELECT (COUNT(DISTINCT ?e) AS ?n) WHERE { ?e a lad:Entity }
```
```sparql
PREFIX lad: <https://example.org/ladder/>
SELECT (COUNT(DISTINCT ?i) AS ?n) WHERE { ?a a lad:RatingInForce ; lad:ratedThing ?i . ?i a lad:Instrument }
```Query results
Query 1:
| s | p | o |
|---|---|---|
| lad:E06 | rdf:type | lad:Entity |
| lad:E06 | rdfs:label | Orrin Bank AG |
| lad:E06 | lad:country | DE |
| lad:E06 | lad:domicile | DE |
| lad:E06 | lad:entityType | lad:etype-BANK |
| lad:E06 | lad:lei | 549300AMVE3VRVG7HK43 |
| lad:E06 | lad:name | Orrin Bank AG |
| lad:E06 | lad:sourceSystem | RATINGS |
| lad:E06 | lad:ultimateParent | lad:E06 |
| lad:E10 | rdf:type | lad:Entity |
| lad:E10 | rdfs:label | Halden Bank AG |
| lad:E10 | lad:ancestor | lad:E09 |
| lad:E10 | lad:country | DE |
| lad:E10 | lad:domicile | LU |
| lad:E10 | lad:entityType | lad:etype-BANK |
| lad:E10 | lad:lei | 391200QYPVFF2O9K2039 |
| lad:E10 | lad:name | Halden Bank AG |
| lad:E10 | lad:parent | lad:E09 |
| lad:E10 | lad:parentEntity | lad:E09 |
| lad:E10 | lad:sameEntityAs | lad:E17 |
| lad:E10 | lad:sourceSystem | RATINGS |
| lad:E10 | lad:ultimateParent | lad:E09 |
| lad:E14 | rdf:type | lad:Entity |
| lad:E14 | rdfs:label | Marlow Utilities plc |
| lad:E14 | lad:country | GB |
| lad:E14 | lad:domicile | GB |
| lad:E14 | lad:entityType | lad:etype-CORP |
| lad:E14 | lad:lei | 3912005AH2C1I9YF8106 |
| lad:E14 | lad:name | Marlow Utilities plc |
| lad:E14 | lad:sourceSystem | RATINGS |
| lad:E14 | lad:ultimateParent | lad:E14 |
| lad:E17 | rdf:type | lad:Entity |
| lad:E17 | rdfs:label | HALDEN BANK |
| lad:E17 | lad:ancestor | lad:E09 |
| lad:E17 | lad:country | LU |
| lad:E17 | lad:domicile | LU |
| lad:E17 | lad:entityType | lad:etype-BANK |
| lad:E17 | lad:lei | 391200QYPVFF2O9K2039 |
| lad:E17 | lad:name | HALDEN BANK |
| lad:E17 | lad:parentEntity | lad:E09 |
| lad:E17 | lad:sameEntityAs | lad:E10 |
| lad:E17 | lad:sourceSystem | RESEARCH |
| lad:E17 | lad:ultimateParent | lad:E09 |
Query 2:
| a | th | rt | r | d | act | ob | w | basis |
|---|---|---|---|---|---|---|---|---|
| lad:A46 | lad:E11 | lad:type-CO | BBB | 2025-02-01 | lad:action-AS | | | |
| lad:A15 | lad:I04 | lad:type-INST | BB | 2025-04-01 | lad:action-AS | | | |
| lad:A28 | lad:I05 | lad:type-INST | A- | 2023-06-01 | lad:action-AS | | | |
| lad:A29 | lad:I05 | lad:type-INST | BBB+ | 2026-04-15 | lad:action-DG | | | |
| lad:A42 | lad:I06 | lad:type-INST | A- | 2024-03-01 | lad:action-AS | | | |
| lad:A45 | lad:I07 | lad:type-INST | BBB- | 2025-04-01 | lad:action-AS | | | |
| lad:A47 | lad:I08 | lad:type-INST | A | 2026-09-01 | lad:action-EX | | | |
| lad:A12 | lad:VD | lad:type-CC | BB | 2025-04-01 | lad:action-AS | | | |
Query 3:
| n |
|---|
| 370 |
Query 4:
| n |
|---|
| 106 |
Run more queries, or give the final answers.The model
```sparql
PREFIX lad: <https://example.org/ladder/>
PREFIX rdfs: <http://www.w3.org/2000/01/rdf-schema#>
SELECT ?s ?l ?dom ?ult ?same ?par WHERE { ?s a lad:Entity ; rdfs:label ?l . OPTIONAL{?s lad:domicile ?dom} OPTIONAL{?s lad:ultimateParent ?ult} OPTIONAL{?s lad:sameEntityAs ?same} OPTIONAL{?s lad:parent ?par} FILTER(CONTAINS(LCASE(?l),"orrin") || CONTAINS(LCASE(?l),"brindle") || CONTAINS(LCASE(?l),"halden") || CONTAINS(LCASE(?l),"corvenia") || CONTAINS(LCASE(?l),"valdoria") || CONTAINS(LCASE(?l),"northwind") || CONTAINS(LCASE(?l),"marlow")) } ORDER BY ?s
```
```sparql
PREFIX lad: <https://example.org/ladder/>
SELECT ?a ?th ?r ?d ?act ?ob ?w ?basis WHERE { ?a a lad:RatingInForce ; lad:ratedThing ?th ; lad:ratingType lad:type-LTIDR ; lad:rating ?r . OPTIONAL{?a lad:date ?d} OPTIONAL{?a lad:action ?act} OPTIONAL{?a lad:outlook ?ob} OPTIONAL{?a lad:watch ?w} OPTIONAL{?a lad:ccyBasis ?basis} FILTER(?r IN ("D","RD","SD") || BOUND(?w) || ?ob = lad:outlook-NEG) } ORDER BY ?th
```
```sparql
PREFIX lad: <https://example.org/ladder/>
SELECT ?a ?th ?r ?d ?act WHERE { ?a a lad:RatingAction ; lad:ratedThing ?th ; lad:rating ?r ; lad:date ?d ; lad:action ?act . FILTER(?r IN ("D","RD","SD") || (?act = lad:action-DG && ?d >= "2026-01-01"^^xsd:date) || (?act = lad:action-DG && STR(?d) >= "2026-01-01")) } ORDER BY ?th ?d
```
```sparql
PREFIX lad: <https://example.org/ladder/>
SELECT ?e ?a ?r ?basis WHERE { ?e lad:domicile ?dom . FILTER(?dom IN ("CV","VD")) ?a a lad:RatingInForce ; lad:ratedThing ?e ; lad:ratingType ?t ; lad:rating ?r . OPTIONAL{?a lad:ccyBasis ?basis} } ORDER BY ?e
```
```sparql
PREFIX lad: <https://example.org/ladder/>
SELECT (COUNT(DISTINCT ?i) AS ?ig) WHERE { ?a a lad:RatingInForce ; lad:ratedThing ?i ; lad:rating ?r . ?i a lad:Instrument . FILTER(?r IN ("AAA","AA+","AA","AA-","A+","A","A-","BBB+","BBB","BBB-")) }
```
```sparql
PREFIX lad: <https://example.org/ladder/>
SELECT (COUNT(?e) AS ?clusters) WHERE { ?e a lad:Entity . FILTER NOT EXISTS { ?e lad:sameEntityAs ?o . FILTER(STR(?o) < STR(?e)) } }
```
```sparql
PREFIX lad: <https://example.org/ladder/>
SELECT (COUNT(?e) AS ?n) WHERE { ?e a lad:Entity . FILTER NOT EXISTS { ?e lad:sameEntityAs ?o . FILTER(STR(?o) < STR(?e)) } FILTER EXISTS { { ?a a lad:RatingInForce ; lad:ratingType lad:type-LTIDR ; lad:ratedThing ?e } UNION { ?e lad:sameEntityAs ?o2 . ?a a lad:RatingInForce ; lad:ratingType lad:type-LTIDR ; lad:ratedThing ?o2 } } }
```
```sparql
PREFIX lad: <https://example.org/ladder/>
SELECT ?e ?dom WHERE { ?e a lad:Entity ; lad:domicile ?dom . FILTER(?dom IN ("GB","LU")) FILTER NOT EXISTS { ?e lad:sameEntityAs ?o . FILTER(STR(?o) < STR(?e)) } FILTER EXISTS { { ?a a lad:RatingInForce ; lad:ratingType lad:type-LTIDR ; lad:ratedThing ?e } UNION { ?e lad:sameEntityAs ?o2 . ?a a lad:RatingInForce ; lad:ratingType lad:type-LTIDR ; lad:ratedThing ?o2 } } }
```Query results
Query 1:
| s | l | dom | ult | same | par |
|---|---|---|---|---|---|
| lad:CV | Republic of Corvenia | CV | lad:CV | | |
| lad:E02 | Northwind Holdings plc | GB | lad:E02 | lad:E03 | |
| lad:E03 | NORTHWIND HLDGS | GB | lad:E03 | lad:E02 | |
| lad:E04 | Northwind Finance BV | NL | lad:E02 | | lad:E02 |
| lad:E04 | Northwind Finance BV | NL | lad:E03 | | lad:E02 |
| lad:E05 | Valdoria Telecom SA | VD | lad:E05 | | |
| lad:E06 | Orrin Bank AG | DE | lad:E06 | | |
| lad:E09 | Halden Group plc | GB | lad:E09 | | |
| lad:E10 | Halden Bank AG | LU | lad:E09 | lad:E17 | lad:E09 |
| lad:E11 | Halden Leasing SA | FR | lad:E09 | | lad:E10 |
| lad:E12 | Halden Foods Ltd | GB | lad:E12 | | |
| lad:E13 | Orrin Bancorp Inc | US | lad:E13 | | |
| lad:E14 | Marlow Utilities plc | GB | lad:E14 | | |
| lad:E15 | Corvenia Power SA | CV | lad:E15 | | |
| lad:E16 | Brindle Capital Ltd | GB | | | |
| lad:E17 | HALDEN BANK | LU | lad:E09 | lad:E10 | |
| lad:VD | Republic of Valdoria | VD | lad:VD | | |
Query 2:
| a | th | r | d | act | ob | w | basis |
|---|---|---|---|---|---|---|---|
| lad:A03 | lad:E01 | BBB | 2026-02-10 | lad:action-AF | lad:outlook-NEG | | lad:basis-FC |
| lad:A17 | lad:E06 | A- | 2026-09-03 | lad:action-RW | | lad:watch-RWN | lad:basis-FC |
| lad:A22 | lad:E08 | RD | 2026-07-08 | lad:action-DG | | | lad:basis-FC |
| lad:A25 | lad:E09 | A | 2026-03-01 | lad:action-AF | lad:outlook-NEG | | lad:basis-FC |
| lad:A1007 | lad:E1005 | BB | 2025-08-02 | lad:action-DG | lad:outlook-NEG | | lad:basis-FC |
| lad:A1010 | lad:E1006 | AA | 2026-06-17 | lad:action-RW | | lad:watch-RWN | lad:basis-FC |
| lad:A1026 | lad:E1013 | BB- | 2025-07-09 | lad:action-RW | | lad:watch-RWN | lad:basis-FC |
| lad:A1042 | lad:E1019 | BBB- | 2024-03-20 | lad:action-RW | | lad:watch-RWN | lad:basis-LC |
| lad:A1062 | lad:E1029 | A- | 2025-08-08 | lad:action-UG | lad:outlook-NEG | | lad:basis-FC |
| lad:A1070 | lad:E1034 | BBB+ | 2026-05-02 | lad:action-DG | lad:outlook-NEG | | lad:basis-FC |
| lad:A1076 | lad:E1037 | A | 2022-05-07 | lad:action-RW | | lad:watch-RWN | lad:basis-FC |
| lad:A1080 | lad:E1039 | A | 2025-12-09 | lad:action-RW | | lad:watch-RWN | lad:basis-FC |
| lad:A1092 | lad:E1046 | AA- | 2025-05-28 | lad:action-UG | lad:outlook-NEG | | lad:basis-FC |
| lad:A1117 | lad:E1055 | BBB- | 2024-12-04 | lad:action-UG | lad:outlook-NEG | | lad:basis-FC |
| lad:A1119 | lad:E1056 | A+ | 2023-01-01 | lad:action-DG | lad:outlook-NEG | | lad:basis-FC |
| lad:A1132 | lad:E1059 | BB- | 2026-02-23 | lad:action-RW | | lad:watch-RWN | lad:basis-LC |
| lad:A1129 | lad:E1060 | BB- | 2025-02-16 | lad:action-AF | lad:outlook-NEG | | lad:basis-FC |
| lad:A1134 | lad:E1061 | A | 2025-06-06 | lad:action-RW | | lad:watch-RWN | lad:basis-FC |
| lad:A1142 | lad:E1064 | A- | 2026-06-03 | lad:action-UG | lad:outlook-NEG | | lad:basis-FC |
| lad:A1145 | lad:E1066 | A- | 2026-05-03 | lad:action-RW | | lad:watch-RWN | lad:basis-FC |
| lad:A1156 | lad:E1072 | BB- | 2026-02-07 | lad:action-AF | lad:outlook-NEG | | lad:basis-FC |
| lad:A1171 | lad:E1079 | BB+ | 2024-01-26 | lad:action-AF | lad:outlook-NEG | | lad:basis-FC |
| lad:A1174 | lad:E1080 | A- | 2026-02-14 | lad:action-DG | lad:outlook-NEG | | lad:basis-FC |
| lad:A1190 | lad:E1088 | B+ | 2024-01-16 | lad:action-RW | | lad:watch-RWN | lad:basis-FC |
| lad:A1211 | lad:E1098 | BBB- | 2026-04-28 | lad:action-RW | | lad:watch-RWN | lad:basis-FC |
| lad:A1214 | lad:E1099 | BB+ | 2023-11-05 | lad:action-RW | | lad:watch-RWN | lad:basis-FC |
| lad:A1226 | lad:E1105 | A+ | 2024-01-13 | lad:action-UG | lad:outlook-NEG | | lad:basis-FC |
| lad:A1237 | lad:E1109 | A+ | 2025-12-25 | lad:action-RW | | lad:watch-RWN | lad:basis-FC |
| lad:A1255 | lad:E1118 | BB+ | 2025-07-14 | lad:action-DG | lad:outlook-NEG | | lad:basis-FC |
| lad:A1272 | lad:E1126 | BB | 2025-07-10 | lad:action-RW | | lad:watch-RWN | lad:basis-FC |
| lad:A1284 | lad:E1132 | B+ | 2025-08-24 | lad:action-RW | | lad:watch-RWN | lad:basis-FC |
| lad:A1287 | lad:E1133 | B+ | 2025-10-11 | lad:action-RW | | lad:watch-RWN | lad:basis-FC |
| lad:A1317 | lad:E1146 | BB | 2025-08-12 | lad:action-RW | | lad:watch-RWN | lad:basis-FC |
| lad:A1338 | lad:E1158 | BBB | 2026-08-14 | lad:action-AF | lad:outlook-NEG | | lad:basis-FC |
| lad:A1344 | lad:E1161 | B | 2026-07-28 | lad:action-DG | lad:outlook-NEG | | lad:basis-FC |
| lad:A1362 | lad:E1168 | BBB- | 2023-10-12 | lad:action-RW | | lad:watch-RWN | lad:basis-FC |
| lad:A1387 | lad:E1181 | A- | 2025-01-06 | lad:action-RW | | lad:watch-RWN | lad:basis-FC |
| lad:A1398 | lad:E1188 | BB- | 2024-09-05 | lad:action-UG | lad:outlook-NEG | | lad:basis-FC |
| lad:A1404 | lad:E1190 | BBB | 2025-05-24 | lad:action-UG | lad:outlook-NEG | | lad:basis-FC |
| lad:A1410 | lad:E1194 | A | 2025-01-20 | lad:action-RW | | lad:watch-RWN | lad:basis-FC |
| lad:A1427 | lad:E1203 | BBB+ | 2023-09-02 | lad:action-RW | | lad:watch-RWN | lad:basis-FC |
| lad:A1442 | lad:E1210 | BB | 2024-09-09 | lad:action-RW | | lad:watch-RWN | lad:basis-FC |
| lad:A1445 | lad:E1211 | BBB- | 2024-09-26 | lad:action-AF | lad:outlook-NEG | | lad:basis-FC |
| lad:A1479 | lad:E1228 | BB+ | 2026-06-28 | lad:action-DG | lad:outlook-NEG | | lad:basis-FC |
| lad:A1508 | lad:E1238 | AA- | 2026-07-27 | lad:action-RW | | lad:watch-RWN | lad:basis-FC |
| lad:A1514 | lad:E1242 | BBB | 2025-09-11 | lad:action-RW | | lad:watch-RWN | lad:basis-FC |
| lad:A1531 | lad:E1248 | A- | 2026-05-02 | lad:action-AF | lad:outlook-NEG | | lad:basis-FC |
| lad:A1555 | lad:E1260 | BBB- | 2025-09-05 | lad:action-RW | | lad:watch-RWN | lad:basis-FC |
| lad:A1558 | lad:E1262 | B+ | 2024-10-13 | lad:action-AF | lad:outlook-NEG | | lad:basis-FC |
| lad:A1562 | lad:E1263 | BBB- | 2026-06-16 | lad:action-DG | lad:outlook-NEG | | lad:basis-FC |
| lad:A1564 | lad:E1264 | B+ | 2024-05-18 | lad:action-RW | | lad:watch-RWN | lad:basis-FC |
| lad:A1568 | lad:E1266 | BBB | 2026-07-20 | lad:action-RW | | lad:watch-RWN | lad:basis-FC |
| lad:A1570 | lad:E1267 | A- | 2023-12-15 | lad:action-RW | | lad:watch-RWN | lad:basis-FC |
| lad:A1577 | lad:E1271 | A- | 2025-10-15 | lad:action-AF | lad:outlook-NEG | | lad:basis-FC |
| lad:A1600 | lad:E1282 | BB+ | 2024-03-20 | lad:action-AF | lad:outlook-NEG | | lad:basis-FC |
| lad:A1627 | lad:E1294 | A+ | 2026-07-11 | lad:action-DG | lad:outlook-NEG | | lad:basis-FC |
| lad:A1633 | lad:E1297 | BBB | 2026-09-01 | lad:action-RW | | lad:watch-RWN | lad:basis-FC |
| lad:A1640 | lad:E1300 | BBB | 2026-05-06 | lad:action-DG | lad:outlook-NEG | | lad:basis-FC |
| lad:A1676 | lad:E1314 | BBB | 2024-06-26 | lad:action-RW | | lad:watch-RWN | lad:basis-FC |
| lad:A1682 | lad:E1317 | BB | 2024-09-11 | lad:action-RW | | lad:watch-RWN | lad:basis-FC |
(1 more rows not shown)
Query 3:
| a | th | r | d | act |
|---|---|---|---|---|
| lad:A21 | lad:E08 | CCC | 2026-01-20 | lad:action-DG |
| lad:A22 | lad:E08 | RD | 2026-07-08 | lad:action-DG |
| lad:A27 | lad:E10 | BBB+ | 2026-04-15 | lad:action-DG |
| lad:A1070 | lad:E1034 | BBB+ | 2026-05-02 | lad:action-DG |
| lad:A1102 | lad:E1051 | A+ | 2026-04-05 | lad:action-DG |
| lad:A1104 | lad:E1051 | A+ | 2026-06-01 | lad:action-DG |
| lad:A1109 | lad:E1053 | BB | 2026-03-20 | lad:action-DG |
| lad:A1122 | lad:E1057 | BB | 2026-06-25 | lad:action-DG |
| lad:A1127 | lad:E1058 | BBB- | 2026-07-14 | lad:action-DG |
| lad:A1140 | lad:E1064 | BBB+ | 2026-03-04 | lad:action-DG |
| lad:A1174 | lad:E1080 | A- | 2026-02-14 | lad:action-DG |
| lad:A1202 | lad:E1093 | B | 2026-07-25 | lad:action-DG |
| lad:A1244 | lad:E1112 | BBB | 2026-02-20 | lad:action-DG |
| lad:A1310 | lad:E1144 | B+ | 2026-06-06 | lad:action-DG |
| lad:A1326 | lad:E1151 | BBB | 2026-01-26 | lad:action-DG |
| lad:A1341 | lad:E1159 | BBB+ | 2026-06-16 | lad:action-DG |
| lad:A1344 | lad:E1161 | B | 2026-07-28 | lad:action-DG |
| lad:A1350 | lad:E1163 | BB+ | 2026-03-19 | lad:action-DG |
| lad:A1360 | lad:E1167 | BB | 2026-09-07 | lad:action-DG |
| lad:A1366 | lad:E1170 | BB- | 2026-08-16 | lad:action-DG |
| lad:A1395 | lad:E1186 | BBB+ | 2026-01-04 | lad:action-DG |
| lad:A1450 | lad:E1213 | A- | 2026-02-13 | lad:action-DG |
| lad:A1451 | lad:E1213 | BBB+ | 2026-06-16 | lad:action-DG |
| lad:A1479 | lad:E1228 | BB+ | 2026-06-28 | lad:action-DG |
| lad:A1482 | lad:E1229 | BB | 2026-05-06 | lad:action-DG |
| lad:A1481 | lad:E1229 | BB+ | 2026-06-02 | lad:action-DG |
| lad:A1516 | lad:E1243 | BB | 2026-01-13 | lad:action-DG |
| lad:A1545 | lad:E1255 | BBB+ | 2026-01-19 | lad:action-DG |
| lad:A1561 | lad:E1263 | BBB | 2026-03-03 | lad:action-DG |
| lad:A1562 | lad:E1263 | BBB- | 2026-06-16 | lad:action-DG |
| lad:A1608 | lad:E1285 | A | 2026-02-17 | lad:action-DG |
| lad:A1620 | lad:E1290 | B | 2026-08-16 | lad:action-DG |
| lad:A1627 | lad:E1294 | A+ | 2026-07-11 | lad:action-DG |
| lad:A1636 | lad:E1299 | BBB | 2026-02-06 | lad:action-DG |
| lad:A1639 | lad:E1300 | BBB+ | 2026-04-09 | lad:action-DG |
| lad:A1640 | lad:E1300 | BBB | 2026-05-06 | lad:action-DG |
| lad:A1660 | lad:E1307 | BB- | 2026-02-08 | lad:action-DG |
| lad:A1718 | lad:E1340 | BBB+ | 2026-06-26 | lad:action-DG |
| lad:A1720 | lad:E1341 | BBB+ | 2026-11-09 | lad:action-DG |
| lad:A1722 | lad:E1342 | BBB+ | 2026-07-17 | lad:action-DG |
| lad:A1724 | lad:E1343 | BBB+ | 2026-08-08 | lad:action-DG |
| lad:A1726 | lad:E1344 | A- | 2026-03-18 | lad:action-DG |
| lad:A1728 | lad:E1345 | BB- | 2026-09-22 | lad:action-DG |
| lad:A1730 | lad:E1346 | BBB+ | 2026-10-15 | lad:action-DG |
| lad:A1732 | lad:E1347 | BBB- | 2026-03-10 | lad:action-DG |
| lad:A1734 | lad:E1348 | BBB- | 2026-03-18 | lad:action-DG |
| lad:A1736 | lad:E1349 | A- | 2026-10-14 | lad:action-DG |
| lad:A1738 | lad:E1350 | BB | 2026-09-03 | lad:action-DG |
| lad:A1740 | lad:E1351 | A- | 2026-09-27 | lad:action-DG |
| lad:A44 | lad:E16 | BB+ | 2026-06-01 | lad:action-DG |
| lad:A29 | lad:I05 | BBB+ | 2026-04-15 | lad:action-DG |
Query 4:
| e | a | r | basis |
|---|---|---|---|
| lad:CV | lad:A37 | A | |
| lad:CV | lad:A38 | BBB+ | lad:basis-FC |
| lad:CV | lad:A39 | A- | lad:basis-LC |
| lad:E05 | lad:A13 | BBB- | lad:basis-LC |
| lad:E05 | lad:A14 | BB | lad:basis-FC |
| lad:E1019 | lad:A1039 | BB+ | lad:basis-FC |
| lad:E1019 | lad:A1042 | BBB- | lad:basis-LC |
| lad:E1028 | lad:A1058 | BB | lad:basis-FC |
| lad:E1028 | lad:A1060 | BBB | lad:basis-LC |
| lad:E1039 | lad:A1080 | A | lad:basis-FC |
| lad:E1039 | lad:A1081 | AA- | lad:basis-LC |
| lad:E1059 | lad:A1132 | BB- | lad:basis-LC |
| lad:E1060 | lad:A1129 | BB- | lad:basis-FC |
| lad:E1071 | lad:A1152 | B+ | lad:basis-FC |
| lad:E1096 | lad:A1207 | BBB | lad:basis-FC |
| lad:E1096 | lad:A1209 | BBB+ | lad:basis-LC |
| lad:E1101 | lad:A1219 | BB | lad:basis-FC |
| lad:E1101 | lad:A1220 | BB+ | lad:basis-LC |
| lad:E1106 | lad:A1228 | B+ | lad:basis-FC |
| lad:E1126 | lad:A1272 | BB | lad:basis-FC |
| lad:E1126 | lad:A1273 | BBB- | lad:basis-LC |
| lad:E1136 | lad:A1291 | A- | lad:basis-FC |
| lad:E1144 | lad:A1310 | B+ | lad:basis-FC |
| lad:E1144 | lad:A1312 | BB- | lad:basis-LC |
| lad:E1185 | lad:A1392 | BB+ | lad:basis-FC |
| lad:E1194 | lad:A1410 | A | lad:basis-FC |
| lad:E1194 | lad:A1411 | A | lad:basis-LC |
| lad:E1217 | lad:A1457 | BB- | lad:basis-FC |
| lad:E1223 | lad:A1470 | BB+ | lad:basis-FC |
| lad:E1229 | lad:A1481 | BB+ | lad:basis-FC |
| lad:E1229 | lad:A1484 | BBB- | lad:basis-LC |
| lad:E1236 | lad:A1502 | BB | lad:basis-FC |
| lad:E1243 | lad:A1517 | BB | lad:basis-FC |
| lad:E1243 | lad:A1520 | BBB+ | lad:basis-LC |
| lad:E1279 | lad:A1596 | BB | lad:basis-LC |
| lad:E1283 | lad:A1602 | BB | lad:basis-FC |
| lad:E1283 | lad:A1604 | B+ | lad:basis-LC |
| lad:E1304 | lad:A1653 | BB | lad:basis-FC |
| lad:E1307 | lad:A1661 | BB- | lad:basis-FC |
| lad:E1313 | lad:A1672 | BB- | lad:basis-FC |
| lad:E1313 | lad:A1673 | BBB- | lad:basis-LC |
| lad:E15 | lad:A40 | A+ | lad:basis-LC |
| lad:E15 | lad:A41 | A | lad:basis-FC |
| lad:VD | lad:A12 | BB | |
Query 5:
| ig |
|---|
| 66 |
Query 6:
| clusters |
|---|
| 344 |
Query 7:
| n |
|---|
| 278 |
Query 8:
| e | dom |
|---|---|
| lad:E1047 | GB |
| lad:E1183 | GB |
| lad:E1197 | GB |
| lad:E1292 | GB |
| lad:E1003 | GB |
| lad:E1043 | GB |
| lad:E1070 | GB |
| lad:E1094 | GB |
| lad:E1116 | GB |
| lad:E1123 | GB |
| lad:E1135 | GB |
| lad:E1152 | GB |
| lad:E1169 | GB |
| lad:E1178 | GB |
| lad:E1193 | GB |
| lad:E1224 | GB |
| lad:E1226 | GB |
| lad:E1228 | GB |
| lad:E1237 | GB |
| lad:E1284 | GB |
| lad:E1293 | GB |
| lad:E1306 | GB |
| lad:E1318 | GB |
| lad:E1093 | GB |
| lad:E1122 | GB |
| lad:E1128 | GB |
| lad:E1184 | GB |
| lad:E12 | GB |
| lad:E1221 | GB |
| lad:E1231 | GB |
| lad:E1264 | GB |
| lad:E1285 | GB |
| lad:E1321 | GB |
| lad:E1008 | GB |
| lad:E1049 | GB |
| lad:E1055 | GB |
| lad:E1072 | GB |
| lad:E1114 | GB |
| lad:E1195 | GB |
| lad:E1196 | GB |
| lad:E1211 | GB |
| lad:E1286 | GB |
| lad:E1301 | GB |
| lad:E1302 | GB |
| lad:E1309 | GB |
| lad:E1312 | GB |
| lad:E1190 | GB |
| lad:E1290 | GB |
| lad:E1295 | GB |
| lad:E1300 | GB |
| lad:E1324 | GB |
| lad:E14 | GB |
| lad:E1079 | GB |
| lad:E1083 | GB |
| lad:E1115 | GB |
| lad:E1141 | GB |
| lad:E1256 | GB |
| lad:E1278 | GB |
| lad:E1314 | GB |
| lad:E10 | LU |
(7 more rows not shown)
This was the last round: give the final answers now, with no more queries.The model
**Q1.** A-. Kestrel's issuer rating (A01) was A- from 2024-03-12 to 2025-06-20.
**Q2.** No. The only downgrade was on 2025-06-20 (A02). The 2026-02-10 action (A03) affirmed BBB and moved the outlook to Negative.
**Q3.** No. The 2031 note (I02) is rated BB+ (A07), which is below investment grade.
**Q4.** Positive. A09 sits on E03, which is the same entity as E02, and it is the rating in force.
**Q5.** E02, rated A. I03 is guaranteed by E02, so its credit risk is E02's, and A11 rates it A.
**Q6.** The Country Ceiling for Valdoria (VD) is BB (A12). The foreign-currency rating, BB (A14), is capped there, while the local-currency rating is BBB- (A13). This is my inference from the ceiling record, since no record states the reason.
**Q7.** The list below comes from the downgrade actions dated 2026. I could not confirm that each one is a genuine issuer-level downgrade, and E1341 is dated 2026-11-09, after today's date, so I left it out.
**Q8.** E08. Its RD rating (A22) was in force from 2026-07-08.
**Q9.** 278. This counts distinct entities after merging sameEntityAs records, and it includes sovereigns.
**Q10.** Depends. Its local-currency rating is BBB- (investment grade) and its foreign-currency rating is BB (not).
**Q11.** BBB+ (A36).
**Q12.** A- (A34).
**Q13.** 1. A36 is the only downgrade action; A35 was a watch and A33 an affirmation.
**Q14.** None. Halden Foods' first rating (A30) dates from 2024-02-01.
**Q15.** A-. E10's rating (A26) was in force until 2026-04-15.
**Q16.** No. Marlow was BBB+ throughout, and A33 and A35 did not change the rating.
**Q17.** No. A17 kept A- and only placed it on Rating Watch Negative.
**Q18.** The in-force Rating Watch Negative list is in the JSON. One further row was truncated and is not included.
**Q19.** The in-force Negative outlook list is in the JSON.
**Q20.** No. Pellam's rating was withdrawn (WD, A19) for commercial reasons, which is not a default.
**Q21.** E07, whose rating was withdrawn on 2026-05-12.
**Q22.** E08. It was downgraded to RD in A22, and no other entity showed a D, RD or SD rating.
**Q23.** F2 (A04).
**Q24.** Yes. A03 rates the issuer BBB.
**Q25.** 66.
**Q26.** A+ (A40).
**Q27.** A- (A42).
**Q28.** BBB+ (A38).
**Q29.** None. Valdoria has only a Country Ceiling record (A12), with no issuer rating.
**Q30.** E15 (A), E1039 (A), E05 (BB) and E1028 (BB), each at the ceiling of its own country. Only CV and VD ceilings were checked.
**Q31.** No. I found no foreign-currency issuer rating above its country's ceiling.
**Q32.** E09.
**Q33.** E10, rated BBB+. I05 is guaranteed by E10, and A29 rates the note BBB+.
**Q34.** No. E12 (Halden Foods) is its own ultimate parent.
**Q35.** 3: E09, E10 and E11. E17 is the same entity as E10.
**Q36.** 2: E02 (same entity as E03) and E04.
**Q37.** 344 distinct legal entities, after merging sameEntityAs duplicates.
**Q38.** No. E06 and E13 have different LEIs, countries and parentage, and there is no sameEntityAs link between them.
**Q39.** A (A09).
**Q40.** 68, which is an estimate. The result list was truncated by 7 rows, and I assumed those were GB.
**Q41.** BB+ (A44). The record did not appear among the in-force actions, so this is the latest action rather than a confirmed in-force rating.
**Q42.** LU. The derived domicile is LU, although the country field says DE.
**Q43.** 1, which is a lower bound. I only confirmed E10 and E17, one entity, and did not run a full LU count.
**Q44.** Yes. I07 has localCurrency set to true.
**Q45.** Yes. I07 is rated BBB-, above the BB ceiling.
**Q46.** No. E11 has only a counterparty-type rating (A46, BBB).
**Q47.** A (A47, an exchange action dated 2026-09-01).
**Q48.** 106.
```json
{"Q1":{"rating":"A-"},
"Q2":{"downgraded":"no"},
"Q3":{"investment_grade":"no","rating":"BB+"},
"Q4":{"outlook":"Positive"},
"Q5":{"risk_of":"E02","rating":"A"},
"Q7":{"issuers":["E08","E10","E1034","E1051","E1053","E1057","E1058","E1064","E1080","E1093","E1112","E1144","E1151","E1159","E1161","E1163","E1167","E1170","E1186","E1213","E1228","E1229","E1243","E1255","E1263","E1285","E1290","E1294","E1299","E1300","E1307","E1340","E1342","E1343","E1344","E1345","E1346","E1347","E1348","E1349","E1350","E1351","E16"]},
"Q8":{"entities":["E08"]},
"Q9":{"count":278},
"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":["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"]},
"Q19":{"issuers":["E01","E09","E1005","E1029","E1034","E1046","E1055","E1056","E1060","E1064","E1072","E1079","E1080","E1105","E1118","E1158","E1161","E1188","E1190","E1211","E1228","E1248","E1262","E1263","E1271","E1282","E1294","E1300"]},
"Q20":{"in_default":"no"},
"Q21":{"entities":["E07"]},
"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","E05","E1028"]},
"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":68},
"Q41":{"rating":"BB+"},
"Q42":{"country":"LU"},
"Q43":{"count":1},
"Q44":{"local_currency":"yes"},
"Q45":{"above_ceiling":"yes"},
"Q46":{"issuer_rating":"no"},
"Q47":{"rating":"A"},
"Q48":{"count":106}}
```