D4 sparql, run 4: the query session

18 queries0 failed7 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:country`, `lad:entityType`, `lad:lei`, `lad:name`, `lad:parent`, `lad:sourceSystem`
- `lad:Instrument`: `rdf:type`, `rdfs:label`, `lad:currency`, `lad:description`, `lad:guarantor`, `lad:issuer`, `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:watch`

## 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 data.

```sparql
SELECT ?s ?p ?o WHERE { ?s ?p ?o . FILTER(?s IN (lad:E01, lad:E02)) } LIMIT 100
```

```sparql
SELECT ?s ?l ?t WHERE { ?s a ?t . OPTIONAL {?s rdfs:label ?l} } ORDER BY ?t ?s
```

Query results

Query 1:

| s | p | o |
|---|---|---|
| lad:E02 | lad:entityType | lad:etype-CORP |
| lad:E01 | rdfs:label | Kestrel Energy plc |
| lad:E02 | rdfs:label | Northwind Holdings plc |
| lad:E01 | lad:sourceSystem | RATINGS |
| lad:E01 | lad:entityType | lad:etype-CORP |
| lad:E01 | lad:country | GB |
| lad:E01 | lad:name | Kestrel Energy plc |
| lad:E01 | lad:lei | 7245002OOPBG04092E43 |
| lad:E02 | lad:sourceSystem | RATINGS |
| lad:E02 | lad:lei | 213800PHEIYNJMHTDV74 |
| lad:E02 | lad:name | Northwind Holdings plc |
| lad:E02 | lad:country | GB |
| lad:E02 | rdf:type | lad:Entity |
| lad:E01 | rdf:type | lad:Entity |

Query 2:

| s | l | t |
|---|---|---|
| lad:CV | Republic of Corvenia | lad:Entity |
| lad:E01 | Kestrel Energy plc | lad:Entity |
| lad:E02 | Northwind Holdings plc | lad:Entity |
| lad:E03 | NORTHWIND HLDGS | lad:Entity |
| lad:E04 | Northwind Finance BV | lad:Entity |
| lad:E05 | Valdoria Telecom SA | lad:Entity |
| lad:E06 | Orrin Bank AG | lad:Entity |
| lad:E07 | Pellam Retail Ltd | lad:Entity |
| lad:E08 | Saxby Shipping SA | lad:Entity |
| lad:E09 | Halden Group plc | lad:Entity |
| lad:E10 | Halden Bank AG | lad:Entity |
| lad:E1001 | Tunod Steel SA | lad:Entity |
| lad:E1002 | TUNOD STEEL SA | lad:Entity |
| lad:E1003 | Rilol Telecom plc | lad:Entity |
| lad:E1004 | Munem Retail SA | lad:Entity |
| lad:E1005 | Setan Airlines Inc | lad:Entity |
| lad:E1006 | Soson Airlines Inc | lad:Entity |
| lad:E1007 | Golod Property plc | lad:Entity |
| lad:E1008 | Sotil Retail plc | lad:Entity |
| lad:E1009 | Malam Chemicals Inc | lad:Entity |
| lad:E1010 | Buvir Industries Inc | lad:Entity |
| lad:E1011 | Falom Media Inc | lad:Entity |
| lad:E1012 | Posad Industries SA | lad:Entity |
| lad:E1013 | Pisol Pharma BV | lad:Entity |
| lad:E1014 | Toral Utilities BV | lad:Entity |
| lad:E1015 | Civen Steel Inc | lad:Entity |
| lad:E1016 | Ponar Telecom SA | lad:Entity |
| lad:E1017 | Nisid Steel SA | lad:Entity |
| lad:E1018 | Tosem Mining Inc | lad:Entity |
| lad:E1019 | Losol Mining SA | lad:Entity |
| lad:E1020 | Finel Media AG | lad:Entity |
| lad:E1021 | Niner Pharma plc | lad:Entity |
| lad:E1022 | NINER PHARMA | lad:Entity |
| lad:E1023 | Heled Water plc | lad:Entity |
| lad:E1024 | Susin Shipping BV | lad:Entity |
| lad:E1025 | Tulol Shipping SA | lad:Entity |
| lad:E1026 | Vunam Water BV | lad:Entity |
| lad:E1027 | Tesad Media Inc | lad:Entity |
| lad:E1028 | Mutir Retail SA | lad:Entity |
| lad:E1029 | Leson Telecom Inc | lad:Entity |
| lad:E1030 | LESON TELECOM INC | lad:Entity |
| lad:E1031 | Kuvir Logistics SA | lad:Entity |
| lad:E1032 | Helom Chemicals BV | lad:Entity |
| lad:E1033 | Kunid Pharma SA | lad:Entity |
| lad:E1034 | Tanad Capital SpA | lad:Entity |
| lad:E1035 | Kavod Utilities AG | lad:Entity |
| lad:E1036 | Lilor Retail AG | lad:Entity |
| lad:E1037 | Natil Retail SA | lad:Entity |
| lad:E1038 | Lanon Telecom BV | lad:Entity |
| lad:E1039 | Pulor Airlines SA | lad:Entity |
| lad:E1040 | Dorid Mining AG | lad:Entity |
| lad:E1041 | Hiral Steel SA | lad:Entity |
| lad:E1042 | Rerod Steel BV | lad:Entity |
| lad:E1043 | Vitom Property plc | lad:Entity |
| lad:E1044 | Hesid Telecom Inc | lad:Entity |
| lad:E1045 | Nesid Logistics Inc | lad:Entity |
| lad:E1046 | Ditin Shipping Inc | lad:Entity |
| lad:E1047 | Vaved Pharma plc | lad:Entity |
| lad:E1048 | Lised Pharma AG | lad:Entity |
| lad:E1049 | Paser Utilities plc | lad:Entity |
(1212 more rows not shown)

Run more queries, or give the final answers.

The model

<parameter name="query">SELECT ?s ?p ?o WHERE { ?s ?p ?o . FILTER(REGEX(STR(?s), "/(CV|E0[0-9]|E10|I0[0-9]+|[A-Z]+[0-9]{0,2})$")) FILTER(?p != rdf:type) FILTER(?p != lad:lei) FILTER(?p != lad:sourceSystem) } ORDER BY ?s ?p LIMIT 1000</parameter>
</invoke>

Query results

The runner found no ```sparql block and no ```json block in your reply. Put each query in its own ```sparql fenced block, or give the final answers.

The model

SELECT ?s ?p ?o WHERE { ?s ?p ?o . FILTER(?p != rdf:type) FILTER(?p != lad:lei) FILTER(?p != lad:sourceSystem) FILTER(REGEX(STR(?s), "/(CV|E[0-9]{2}|E[0-9]{1}|I[0-9]+|[A-Z]{1,3}[0-9]{0,3}|[A-Za-z]+)$")) FILTER(!REGEX(STR(?s), "/E[0-9]{4}$")) } ORDER BY ?s ?p LIMIT 1000
```

Let me fix the fence properly:

```sparql
SELECT ?s ?p ?o WHERE { ?s ?p ?o . FILTER(?p != rdf:type) FILTER(?p != lad:lei) FILTER(?p != lad:sourceSystem) FILTER(!REGEX(STR(?s), "/E[0-9]{4}$")) } ORDER BY ?s ?p LIMIT 1000
```

Query results

Query 1:

| s | p | o |
|---|---|---|
| lad:A01 | rdfs:label | E01 AS A- 2024-03-12 |
| lad:A01 | lad:action | lad:action-AS |
| lad:A01 | lad:ccyBasis | lad:basis-FC |
| lad:A01 | lad:date | 2024-03-12 |
| lad:A01 | lad:outlook | lad:outlook-STA |
| lad:A01 | lad:ratedThing | lad:E01 |
| lad:A01 | lad:rating | A- |
| lad:A01 | lad:ratingType | lad:type-LTIDR |
| lad:A02 | rdfs:label | E01 DG BBB 2025-06-20 |
| lad:A02 | lad:action | lad:action-DG |
| lad:A02 | lad:ccyBasis | lad:basis-FC |
| lad:A02 | lad:comment | weaker cash flow after asset sale |
| lad:A02 | lad:date | 2025-06-20 |
| lad:A02 | lad:outlook | lad:outlook-STA |
| lad:A02 | lad:ratedThing | lad:E01 |
| lad:A02 | lad:rating | BBB |
| lad:A02 | lad:ratingType | lad:type-LTIDR |
| lad:A03 | rdfs:label | E01 AF BBB 2026-02-10 |
| lad:A03 | lad:action | lad:action-AF |
| lad:A03 | lad:ccyBasis | lad:basis-FC |
| lad:A03 | lad:date | 2026-02-10 |
| lad:A03 | lad:outlook | lad:outlook-NEG |
| lad:A03 | lad:ratedThing | lad:E01 |
| lad:A03 | lad:rating | BBB |
| lad:A03 | lad:ratingType | lad:type-LTIDR |
| lad:A04 | rdfs:label | E01 AF F2 2026-02-10 |
| lad:A04 | lad:action | lad:action-AF |
| lad:A04 | lad:ccyBasis | lad:basis-FC |
| lad:A04 | lad:date | 2026-02-10 |
| lad:A04 | lad:ratedThing | lad:E01 |
| lad:A04 | lad:rating | F2 |
| lad:A04 | lad:ratingType | lad:type-STIDR |
| lad:A05 | rdfs:label | I01 AS A- 2024-03-12 |
| lad:A05 | lad:action | lad:action-AS |
| lad:A05 | lad:date | 2024-03-12 |
| lad:A05 | lad:ratedThing | lad:I01 |
| lad:A05 | lad:rating | A- |
| lad:A05 | lad:ratingType | lad:type-INST |
| lad:A06 | rdfs:label | I01 DG BBB 2025-06-20 |
| lad:A06 | lad:action | lad:action-DG |
| lad:A06 | lad:date | 2025-06-20 |
| lad:A06 | lad:ratedThing | lad:I01 |
| lad:A06 | lad:rating | BBB |
| lad:A06 | lad:ratingType | lad:type-INST |
| lad:A07 | rdfs:label | I02 DG BB+ 2025-06-20 |
| lad:A07 | lad:action | lad:action-DG |
| lad:A07 | lad:date | 2025-06-20 |
| lad:A07 | lad:ratedThing | lad:I02 |
| lad:A07 | lad:rating | BB+ |
| lad:A07 | lad:ratingType | lad:type-INST |
| lad:A08 | rdfs:label | E02 AS A 2023-11-01 |
| lad:A08 | lad:action | lad:action-AS |
| lad:A08 | lad:ccyBasis | lad:basis-FC |
| lad:A08 | lad:date | 2023-11-01 |
| lad:A08 | lad:outlook | lad:outlook-STA |
| lad:A08 | lad:ratedThing | lad:E02 |
| lad:A08 | lad:rating | A |
| lad:A08 | lad:ratingType | lad:type-LTIDR |
| lad:A09 | rdfs:label | E03 AF A 2025-09-15 |
| lad:A09 | lad:action | lad:action-AF |
(940 more rows not shown)

Run more queries, or give the final answers.

The model

<invoke name="sparql">
</invoke>
```sparql
SELECT ?s ?p ?o WHERE { ?s ?p ?o . FILTER(?p != rdf:type) FILTER(?p != lad:lei) FILTER(?p != lad:sourceSystem) FILTER(!REGEX(STR(?s), "/(E[0-9]{4}|A[0-9]+)$")) FILTER(!REGEX(STR(?s), "/(E0[1-9]|E10)$")) } ORDER BY ?s ?p LIMIT 1000
```

Query results

Query 1:

| s | p | o |
|---|---|---|
| lad:CV | rdfs:label | Republic of Corvenia |
| lad:CV | lad:country | CV |
| lad:CV | lad:entityType | lad:etype-SOV |
| lad:CV | lad:name | Republic of Corvenia |
| lad:E11 | rdfs:label | Halden Leasing SA |
| lad:E11 | lad:country | FR |
| lad:E11 | lad:entityType | lad:etype-FINSUB |
| lad:E11 | lad:name | Halden Leasing SA |
| lad:E11 | lad:parent | lad:E10 |
| lad:E12 | rdfs:label | Halden Foods Ltd |
| lad:E12 | lad:country | GB |
| lad:E12 | lad:entityType | lad:etype-CORP |
| lad:E12 | lad:name | Halden Foods Ltd |
| lad:E13 | rdfs:label | Orrin Bancorp Inc |
| lad:E13 | lad:country | US |
| lad:E13 | lad:entityType | lad:etype-BANK |
| lad:E13 | lad:name | Orrin Bancorp Inc |
| lad:E14 | rdfs:label | Marlow Utilities plc |
| lad:E14 | lad:country | GB |
| lad:E14 | lad:entityType | lad:etype-CORP |
| lad:E14 | lad:name | Marlow Utilities plc |
| lad:E15 | rdfs:label | Corvenia Power SA |
| lad:E15 | lad:country | CV |
| lad:E15 | lad:entityType | lad:etype-CORP |
| lad:E15 | lad:name | Corvenia Power SA |
| lad:E16 | rdfs:label | Brindle Capital Ltd |
| lad:E16 | lad:country | GB |
| lad:E16 | lad:entityType | lad:etype-CORP |
| lad:E16 | lad:name | Brindle Capital Ltd |
| lad:E17 | rdfs:label | HALDEN BANK |
| lad:E17 | lad:country | LU |
| lad:E17 | lad:entityType | lad:etype-BANK |
| lad:E17 | lad:name | HALDEN BANK |
| lad:I01 | rdfs:label | Kestrel Energy 4.50% 2030 |
| lad:I01 | lad:currency | GBP |
| lad:I01 | lad:description | Kestrel Energy 4.50% notes due 2030 |
| lad:I01 | lad:issuer | lad:E01 |
| lad:I01 | lad:maturity | 2030-03-15 |
| lad:I01 | lad:seniority | lad:seniority-SU |
| lad:I02 | rdfs:label | Kestrel Energy 6.25% 2031 |
| lad:I02 | lad:currency | GBP |
| lad:I02 | lad:description | Kestrel Energy 6.25% notes due 2031 |
| lad:I02 | lad:issuer | lad:E01 |
| lad:I02 | lad:maturity | 2031-09-30 |
| lad:I02 | lad:seniority | lad:seniority-SUB |
| lad:I03 | rdfs:label | Northwind Finance 3.75% 2030 |
| lad:I03 | lad:currency | EUR |
| lad:I03 | lad:description | Northwind Finance 3.75% notes due 2030 |
| lad:I03 | lad:guarantor | lad:E02 |
| lad:I03 | lad:issuer | lad:E04 |
| lad:I03 | lad:maturity | 2030-05-01 |
| lad:I03 | lad:seniority | lad:seniority-SU |
| lad:I04 | rdfs:label | Valdoria Telecom 5.00% 2029 |
| lad:I04 | lad:currency | USD |
| lad:I04 | lad:description | Valdoria Telecom 5.00% notes due 2029 |
| lad:I04 | lad:issuer | lad:E05 |
| lad:I04 | lad:maturity | 2029-11-20 |
| lad:I04 | lad:seniority | lad:seniority-SU |
| lad:I05 | rdfs:label | Halden Leasing 2.90% 2028 |
| lad:I05 | lad:currency | EUR |
(684 more rows not shown)

Run more queries, or give the final answers.

The model

<parameter name="query">
```sparql
SELECT ?s ?p ?o WHERE { ?s ?p ?o . FILTER(?p != rdf:type) FILTER(!REGEX(STR(?s), "/(E[0-9]+|A[0-9]+|CV)$")) FILTER(!(REGEX(STR(?s), "/I[0-9]+$") && ?p IN (lad:description, rdfs:label, lad:currency))) } ORDER BY ?s ?p LIMIT 1000
```
</parameter>
```

Query results

Query 1:

| s | p | o |
|---|---|---|
| lad:I01 | lad:issuer | lad:E01 |
| lad:I01 | lad:maturity | 2030-03-15 |
| lad:I01 | lad:seniority | lad:seniority-SU |
| lad:I02 | lad:issuer | lad:E01 |
| lad:I02 | lad:maturity | 2031-09-30 |
| lad:I02 | lad:seniority | lad:seniority-SUB |
| lad:I03 | lad:guarantor | lad:E02 |
| lad:I03 | lad:issuer | lad:E04 |
| lad:I03 | lad:maturity | 2030-05-01 |
| lad:I03 | lad:seniority | lad:seniority-SU |
| lad:I04 | lad:issuer | lad:E05 |
| lad:I04 | lad:maturity | 2029-11-20 |
| lad:I04 | lad:seniority | lad:seniority-SU |
| lad:I05 | lad:guarantor | lad:E10 |
| lad:I05 | lad:issuer | lad:E11 |
| lad:I05 | lad:maturity | 2028-06-30 |
| lad:I05 | lad:seniority | lad:seniority-SU |
| lad:I06 | lad:issuer | lad:E15 |
| lad:I06 | lad:maturity | 2032-02-15 |
| lad:I06 | lad:seniority | lad:seniority-SUB |
| lad:I07 | lad:issuer | lad:E05 |
| lad:I07 | lad:maturity | 2027-08-31 |
| lad:I07 | lad:seniority | lad:seniority-SU |
| lad:I08 | lad:issuer | lad:E15 |
| lad:I08 | lad:maturity | 2034-09-01 |
| lad:I08 | lad:seniority | lad:seniority-SU |
| lad:I1001 | lad:issuer | lad:E1006 |
| lad:I1001 | lad:maturity | 2035-06-30 |
| lad:I1001 | lad:seniority | lad:seniority-SUB |
| lad:I1002 | lad:issuer | lad:E1007 |
| lad:I1002 | lad:maturity | 2033-06-30 |
| lad:I1002 | lad:seniority | lad:seniority-SU |
| lad:I1003 | lad:issuer | lad:E1008 |
| lad:I1003 | lad:maturity | 2034-06-30 |
| lad:I1003 | lad:seniority | lad:seniority-SU |
| lad:I1004 | lad:issuer | lad:E1009 |
| lad:I1004 | lad:maturity | 2028-06-30 |
| lad:I1004 | lad:seniority | lad:seniority-SU |
| lad:I1005 | lad:issuer | lad:E1012 |
| lad:I1005 | lad:maturity | 2031-06-30 |
| lad:I1005 | lad:seniority | lad:seniority-SU |
| lad:I1006 | lad:issuer | lad:E1013 |
| lad:I1006 | lad:maturity | 2030-06-30 |
| lad:I1006 | lad:seniority | lad:seniority-SUB |
| lad:I1007 | lad:issuer | lad:E1014 |
| lad:I1007 | lad:maturity | 2033-06-30 |
| lad:I1007 | lad:seniority | lad:seniority-SU |
| lad:I1008 | lad:issuer | lad:E1016 |
| lad:I1008 | lad:maturity | 2033-06-30 |
| lad:I1008 | lad:seniority | lad:seniority-SU |
| lad:I1009 | lad:issuer | lad:E1018 |
| lad:I1009 | lad:maturity | 2036-06-30 |
| lad:I1009 | lad:seniority | lad:seniority-SUB |
| lad:I1010 | lad:issuer | lad:E1020 |
| lad:I1010 | lad:maturity | 2036-06-30 |
| lad:I1010 | lad:seniority | lad:seniority-SU |
| lad:I1011 | lad:issuer | lad:E1021 |
| lad:I1011 | lad:maturity | 2035-06-30 |
| lad:I1011 | lad:seniority | lad:seniority-SU |
| lad:I1012 | lad:issuer | lad:E1023 |
(307 more rows not shown)

Run more queries, or give the final answers.

The model

```sparql
SELECT ?a ?t ?act ?d ?r ?rt ?b ?o ?w ?c WHERE { ?a lad:ratedThing ?t ; lad:date ?d ; lad:rating ?r ; lad:ratingType ?rt ; lad:action ?act . OPTIONAL{?a lad:ccyBasis ?b} OPTIONAL{?a lad:outlook ?o} OPTIONAL{?a lad:watch ?w} OPTIONAL{?a lad:comment ?c} FILTER(REGEX(STR(?t), "/(E[0-9]{2}|CV|I[0-9]{2})$")) } ORDER BY ?t ?d
```

```sparql
SELECT ?s ?p ?o WHERE { ?s ?p ?o . FILTER(REGEX(STR(?s), "/(I0[5-9]|I[1-9][0-9])$")) FILTER(?p IN (lad:currency, lad:issuer, lad:guarantor, lad:description)) } ORDER BY ?s
```

Query results

Query 1:

| a | t | act | d | r | rt | b | o | w | c |
|---|---|---|---|---|---|---|---|---|---|
| lad:A37 | lad:CV | lad:action-AS | 2024-01-01 | A | lad:type-CC |  |  |  |  |
| lad:A38 | lad:CV | lad:action-AS | 2024-01-01 | BBB+ | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  |  |
| lad:A39 | lad:CV | lad:action-AS | 2024-01-01 | A- | lad:type-LTIDR | lad:basis-LC | lad:outlook-STA |  |  |
| lad:A01 | lad:E01 | lad:action-AS | 2024-03-12 | A- | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  |  |
| lad:A02 | lad:E01 | lad:action-DG | 2025-06-20 | BBB | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  | weaker cash flow after asset sale |
| lad:A03 | lad:E01 | lad:action-AF | 2026-02-10 | BBB | lad:type-LTIDR | lad:basis-FC | lad:outlook-NEG |  |  |
| lad:A04 | lad:E01 | lad:action-AF | 2026-02-10 | F2 | lad:type-STIDR | lad:basis-FC |  |  |  |
| lad:A08 | lad:E02 | lad:action-AS | 2023-11-01 | A | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  |  |
| lad:A09 | lad:E03 | lad:action-AF | 2025-09-15 | A | lad:type-LTIDR | lad:basis-FC | lad:outlook-POS |  |  |
| lad:A13 | lad:E05 | lad:action-AS | 2025-04-01 | BBB- | lad:type-LTIDR | lad:basis-LC | lad:outlook-STA |  |  |
| lad:A14 | lad:E05 | lad:action-AS | 2025-04-01 | BB | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  |  |
| lad:A16 | lad:E06 | lad:action-AS | 2024-05-01 | A- | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  |  |
| lad:A17 | lad:E06 | lad:action-RW | 2026-09-03 | A- | lad:type-LTIDR | lad:basis-FC |  | lad:watch-RWN |  |
| lad:A18 | lad:E07 | lad:action-AS | 2024-01-10 | BB | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  |  |
| lad:A19 | lad:E07 | lad:action-WD | 2026-05-12 | WD | lad:type-LTIDR | lad:basis-FC |  |  | commercial reasons |
| lad:A20 | lad:E08 | lad:action-AS | 2024-06-01 | B | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  |  |
| lad:A21 | lad:E08 | lad:action-DG | 2026-01-20 | CCC | lad:type-LTIDR | lad:basis-FC |  |  |  |
| lad:A22 | lad:E08 | lad:action-DG | 2026-07-08 | RD | lad:type-LTIDR | lad:basis-FC |  |  | distressed debt exchange completed |
| lad:A24 | lad:E09 | lad:action-AS | 2023-05-01 | A | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  |  |
| lad:A25 | lad:E09 | lad:action-AF | 2026-03-01 | A | lad:type-LTIDR | lad:basis-FC | lad:outlook-NEG |  |  |
| lad:A26 | lad:E10 | lad:action-AS | 2023-05-01 | A- | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  | support from parent |
| lad:A27 | lad:E10 | lad:action-DG | 2026-04-15 | BBB+ | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  |  |
| lad:A46 | lad:E11 | lad:action-AS | 2025-02-01 | BBB | lad:type-CO |  |  |  |  |
| lad:A30 | lad:E12 | lad:action-AS | 2024-02-01 | BB- | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  |  |
| lad:A31 | lad:E12 | lad:action-UG | 2025-08-01 | BB | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  |  |
| lad:A32 | lad:E13 | lad:action-AS | 2024-07-01 | BBB | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  |  |
| lad:A34 | lad:E14 | lad:action-AS | 2023-01-15 | A- | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  |  |
| lad:A36 | lad:E14 | lad:action-DG | 2024-09-30 | BBB+ | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  |  |
| lad:A35 | lad:E14 | lad:action-RW | 2025-11-20 | BBB+ | lad:type-LTIDR | lad:basis-FC |  | lad:watch-RWN |  |
| lad:A33 | lad:E14 | lad:action-AF | 2026-05-01 | BBB+ | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  |  |
| lad:A40 | lad:E15 | lad:action-AS | 2024-03-01 | A+ | lad:type-LTIDR | lad:basis-LC | lad:outlook-STA |  |  |
| lad:A41 | lad:E15 | lad:action-AS | 2024-03-01 | A | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  |  |
| lad:A43 | lad:E16 | lad:action-AS | 2024-04-01 | BBB- | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  |  |
| lad:A44 | lad:E16 | lad:action-DG | 2026-06-01 | BB+ | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  |  |
| lad:A05 | lad:I01 | lad:action-AS | 2024-03-12 | A- | lad:type-INST |  |  |  |  |
| lad:A06 | lad:I01 | lad:action-DG | 2025-06-20 | BBB | lad:type-INST |  |  |  |  |
| lad:A23 | lad:I02 | lad:action-AS | 2024-03-12 | BBB | lad:type-INST |  |  |  |  |
| lad:A07 | lad:I02 | lad:action-DG | 2025-06-20 | BB+ | lad:type-INST |  |  |  |  |
| lad:A10 | lad:I03 | lad:action-AS | 2023-11-01 | A | lad:type-INST |  |  |  |  |
| lad:A11 | lad:I03 | lad:action-AF | 2025-09-15 | A | lad:type-INST |  |  |  |  |
| lad:A15 | lad:I04 | lad:action-AS | 2025-04-01 | BB | lad:type-INST |  |  |  |  |
| lad:A28 | lad:I05 | lad:action-AS | 2023-06-01 | A- | lad:type-INST |  |  |  |  |
| lad:A29 | lad:I05 | lad:action-DG | 2026-04-15 | BBB+ | lad:type-INST |  |  |  |  |
| lad:A42 | lad:I06 | lad:action-AS | 2024-03-01 | A- | lad:type-INST |  |  |  |  |
| lad:A45 | lad:I07 | lad:action-AS | 2025-04-01 | BBB- | lad:type-INST |  |  |  |  |
| lad:A47 | lad:I08 | lad:action-EX | 2026-09-01 | A | lad:type-INST |  |  |  |  |

Query 2:

| s | p | o |
|---|---|---|
| lad:I05 | lad:issuer | lad:E11 |
| lad:I05 | lad:description | Halden Leasing 2.90% notes due 2028 |
| lad:I05 | lad:guarantor | lad:E10 |
| lad:I05 | lad:currency | EUR |
| lad:I06 | lad:issuer | lad:E15 |
| lad:I06 | lad:currency | USD |
| lad:I06 | lad:description | Corvenia Power 7.10% notes due 2032 |
| lad:I07 | lad:currency | XVD |
| lad:I07 | lad:description | Valdoria Telecom 4.25% notes due 2027 |
| lad:I07 | lad:issuer | lad:E05 |
| lad:I08 | lad:description | Corvenia Power 6.00% notes due 2034 |
| lad:I08 | lad:issuer | lad:E15 |
| lad:I08 | lad:currency | USD |

Run more queries, or give the final answers.

The model

```sparql
SELECT ?s ?p ?o WHERE { ?s ?p ?o . FILTER(REGEX(STR(?s), "/(E0[1-9]|E10)$")) FILTER(?p IN (lad:parent, lad:country, lad:entityType, lad:lei, lad:name)) } ORDER BY ?s ?p
```

```sparql
SELECT ?lei (COUNT(?e) AS ?n) (GROUP_CONCAT(STR(?e); separator=",") AS ?es) WHERE { ?e lad:lei ?lei } GROUP BY ?lei HAVING (COUNT(?e) > 1)
```

```sparql
SELECT ?a ?t ?act ?d ?r ?rt ?b ?o ?w WHERE { ?a lad:ratedThing ?t ; lad:date ?d ; lad:rating ?r ; lad:ratingType ?rt ; lad:action ?act . OPTIONAL{?a lad:ccyBasis ?b} OPTIONAL{?a lad:outlook ?o} OPTIONAL{?a lad:watch ?w} FILTER(!REGEX(STR(?t), "/(E[0-9]{2}|CV|I[0-9]{2})$")) FILTER(?rt != lad:type-INST) } ORDER BY ?t ?d
```

```sparql
SELECT (COUNT(DISTINCT ?e) AS ?ent) (COUNT(DISTINCT ?lu) AS ?lu) WHERE { ?e a lad:Entity . OPTIONAL { ?lu a lad:Entity ; lad:country "LU" } }
```

Query results

Query 1:

| s | p | o |
|---|---|---|
| lad:E01 | lad:country | GB |
| lad:E01 | lad:entityType | lad:etype-CORP |
| lad:E01 | lad:lei | 7245002OOPBG04092E43 |
| lad:E01 | lad:name | Kestrel Energy plc |
| lad:E02 | lad:country | GB |
| lad:E02 | lad:entityType | lad:etype-CORP |
| lad:E02 | lad:lei | 213800PHEIYNJMHTDV74 |
| lad:E02 | lad:name | Northwind Holdings plc |
| lad:E03 | lad:country | GB |
| lad:E03 | lad:entityType | lad:etype-CORP |
| lad:E03 | lad:lei | 213800PHEIYNJMHTDV74 |
| lad:E03 | lad:name | NORTHWIND HLDGS |
| lad:E04 | lad:country | 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:E05 | lad:country | VD |
| lad:E05 | lad:entityType | lad:etype-CORP |
| lad:E05 | lad:lei | 391200LESH03LMOY2U61 |
| lad:E05 | lad:name | Valdoria Telecom SA |
| lad:E06 | lad:country | DE |
| lad:E06 | lad:entityType | lad:etype-BANK |
| lad:E06 | lad:lei | 549300AMVE3VRVG7HK43 |
| lad:E06 | lad:name | Orrin Bank AG |
| lad:E07 | lad:country | GB |
| lad:E07 | lad:entityType | lad:etype-CORP |
| lad:E07 | lad:lei | 969500B6IUACELPI2291 |
| lad:E07 | lad:name | Pellam Retail Ltd |
| lad:E08 | lad:country | GR |
| lad:E08 | lad:entityType | lad:etype-CORP |
| lad:E08 | lad:lei | 969500KOTZ1JFIZSG796 |
| lad:E08 | lad:name | Saxby Shipping SA |
| lad:E09 | lad:country | GB |
| lad:E09 | lad:entityType | lad:etype-CORP |
| lad:E09 | lad:lei | 815600ASM9EHDG931T89 |
| lad:E09 | lad:name | Halden Group plc |
| lad:E10 | lad:country | DE |
| 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 |

Query 2:

| lei | n | es |
|---|---|---|
| 3912003R00FP6CNV6210 | 2 | https://example.org/ladder/E1001,https://example.org/ladder/E1002 |
| 391200KLG6G4KVIMIU52 | 2 | https://example.org/ladder/E1022,https://example.org/ladder/E1021 |
| 8156008DPX4I9DNKWN26 | 2 | https://example.org/ladder/E1030,https://example.org/ladder/E1029 |
| 549300NTCTGRKRYIAN83 | 2 | https://example.org/ladder/E1097,https://example.org/ladder/E1096 |
| 391200JN4T4KY2HCRU75 | 2 | https://example.org/ladder/E1116,https://example.org/ladder/E1117 |
| 724500BSV4X2J7KUR535 | 2 | https://example.org/ladder/E1139,https://example.org/ladder/E1138 |
| 549300E50JHDJNBUGF22 | 2 | https://example.org/ladder/E1152,https://example.org/ladder/E1153 |
| 969500KYKHRI6N2WRN19 | 2 | https://example.org/ladder/E1157,https://example.org/ladder/E1156 |
| 549300XV49ES64RGNQ00 | 2 | https://example.org/ladder/E1169,https://example.org/ladder/E1170 |
| 391200USHZVHBK9FHP01 | 2 | https://example.org/ladder/E1180,https://example.org/ladder/E1179 |
| 549300HWTXXHJP2HKU38 | 2 | https://example.org/ladder/E1209,https://example.org/ladder/E1210 |
| 549300A64I73OEIC4R87 | 2 | https://example.org/ladder/E1214,https://example.org/ladder/E1213 |
| 5493004IM0PRT8BSDK29 | 2 | https://example.org/ladder/E1239,https://example.org/ladder/E1238 |
| 815600LRX1P8142NMF42 | 2 | https://example.org/ladder/E1246,https://example.org/ladder/E1245 |
| 724500YEJSJ19G17TW94 | 2 | https://example.org/ladder/E1259,https://example.org/ladder/E1258 |
| 815600RCZP0ISY44E024 | 2 | https://example.org/ladder/E1298,https://example.org/ladder/E1299 |
| 9695000PSF2HLPO9AE57 | 2 | https://example.org/ladder/E1311,https://example.org/ladder/E1310 |
| 724500UQKUINIUB80J18 | 2 | https://example.org/ladder/E1318,https://example.org/ladder/E1319 |
| 391200QYPVFF2O9K2039 | 2 | https://example.org/ladder/E17,https://example.org/ladder/E10 |
| 213800PHEIYNJMHTDV74 | 2 | https://example.org/ladder/E03,https://example.org/ladder/E02 |
| 815600HDI8Y3IWGOOH22 | 2 | https://example.org/ladder/E1103,https://example.org/ladder/E1104 |
| 391200E9TAHDZV7CY568 | 2 | https://example.org/ladder/E1147,https://example.org/ladder/E1148 |
| 969500PM41NS2PBZU440 | 2 | https://example.org/ladder/E1160,https://example.org/ladder/E1161 |
| 969500QXEZ0NSV6EIW69 | 2 | https://example.org/ladder/E1253,https://example.org/ladder/E1254 |
| 549300H1N0EQEAZLE362 | 2 | https://example.org/ladder/E1261,https://example.org/ladder/E1262 |
| 549300CRXZL5I1OT6L14 | 2 | https://example.org/ladder/E1060,https://example.org/ladder/E1059 |

Query 3:

| a | t | act | d | r | rt | b | o | w |
|---|---|---|---|---|---|---|---|---|
| lad:A1001 | lad:E1002 | lad:action-AS | 2022-08-18 | A+ | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  |
| lad:A1002 | lad:E1002 | lad:action-WD | 2025-07-20 | WD | lad:type-LTIDR | lad:basis-FC |  |  |
| lad:A1003 | lad:E1003 | lad:action-AS | 2024-07-05 | A | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  |
| lad:A1004 | lad:E1004 | lad:action-AS | 2023-05-02 | BB | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  |
| lad:A1005 | lad:E1005 | lad:action-AS | 2022-05-02 | BBB- | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  |
| lad:A1006 | lad:E1005 | lad:action-DG | 2023-03-19 | BB+ | lad:type-LTIDR | lad:basis-FC | lad:outlook-POS |  |
| lad:A1007 | lad:E1005 | lad:action-DG | 2025-08-02 | BB | lad:type-LTIDR | lad:basis-FC | lad:outlook-NEG |  |
| lad:A1008 | lad:E1006 | lad:action-AS | 2025-08-26 | AA- | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  |
| lad:A1009 | lad:E1006 | lad:action-UG | 2026-04-15 | AA | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  |
| lad:A1010 | lad:E1006 | lad:action-RW | 2026-06-17 | AA | lad:type-LTIDR | lad:basis-FC |  | lad:watch-RWN |
| lad:A1012 | lad:E1007 | lad:action-AS | 2023-06-03 | BB- | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  |
| lad:A1013 | lad:E1007 | lad:action-WD | 2026-06-27 | WD | lad:type-LTIDR | lad:basis-FC |  |  |
| lad:A1015 | lad:E1008 | lad:action-AS | 2022-12-09 | BBB- | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  |
| lad:A1017 | lad:E1009 | lad:action-AS | 2022-05-02 | A | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  |
| lad:A1019 | lad:E1010 | lad:action-AS | 2023-08-18 | BBB- | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  |
| lad:A1020 | lad:E1011 | lad:action-AS | 2025-12-13 | B+ | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  |
| lad:A1021 | lad:E1012 | lad:action-AS | 2024-11-09 | BB | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  |
| lad:A1022 | lad:E1012 | lad:action-RW | 2025-04-03 | BB | lad:type-LTIDR | lad:basis-FC |  | lad:watch-RWN |
| lad:A1023 | lad:E1012 | lad:action-UG | 2026-02-06 | BB+ | lad:type-LTIDR | lad:basis-FC | lad:outlook-POS |  |
| lad:A1025 | lad:E1013 | lad:action-AS | 2022-06-02 | BB- | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  |
| lad:A1026 | lad:E1013 | lad:action-RW | 2025-07-09 | BB- | lad:type-LTIDR | lad:basis-FC |  | lad:watch-RWN |
| lad:A1028 | lad:E1014 | lad:action-AS | 2025-07-11 | AA- | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  |
| lad:A1030 | lad:E1015 | lad:action-AS | 2025-11-24 | BBB+ | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  |
| lad:A1031 | lad:E1016 | lad:action-AS | 2022-06-10 | B+ | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  |
| lad:A1032 | lad:E1016 | lad:action-AF | 2025-06-28 | B+ | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  |
| lad:A1034 | lad:E1017 | lad:action-AS | 2022-03-03 | AA- | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  |
| lad:A1035 | lad:E1017 | lad:action-UG | 2024-08-09 | AA | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  |
| lad:A1036 | lad:E1017 | lad:action-AF | 2025-04-20 | AA | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  |
| lad:A1037 | lad:E1018 | lad:action-AS | 2025-08-11 | A | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  |
| lad:A1039 | lad:E1019 | lad:action-AS | 2022-12-11 | BB+ | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  |
| lad:A1040 | lad:E1019 | lad:action-AS | 2022-12-11 | BBB- | lad:type-LTIDR | lad:basis-LC | lad:outlook-STA |  |
| lad:A1041 | lad:E1019 | lad:action-RW | 2024-02-08 | BBB- | lad:type-LTIDR | lad:basis-LC |  | lad:watch-RWN |
| lad:A1042 | lad:E1019 | lad:action-RW | 2024-03-20 | BBB- | lad:type-LTIDR | lad:basis-LC |  | lad:watch-RWN |
| lad:A1043 | lad:E1020 | lad:action-AS | 2024-06-15 | A- | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  |
| lad:A1045 | lad:E1021 | lad:action-AS | 2022-06-19 | BBB- | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  |
| lad:A1046 | lad:E1021 | lad:action-WD | 2025-11-08 | WD | lad:type-LTIDR | lad:basis-FC |  |  |
| lad:A1048 | lad:E1023 | lad:action-AS | 2022-06-05 | A- | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  |
| lad:A1049 | lad:E1023 | lad:action-DG | 2023-03-02 | BBB+ | lad:type-LTIDR | lad:basis-FC | lad:outlook-POS |  |
| lad:A1050 | lad:E1023 | lad:action-DG | 2023-03-24 | BBB | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  |
| lad:A1052 | lad:E1024 | lad:action-AS | 2022-06-18 | B+ | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  |
| lad:A1053 | lad:E1025 | lad:action-AS | 2022-07-17 | BB- | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  |
| lad:A1054 | lad:E1026 | lad:action-AS | 2025-05-04 | AA- | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  |
| lad:A1055 | lad:E1027 | lad:action-AS | 2022-09-25 | BBB- | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  |
| lad:A1056 | lad:E1028 | lad:action-AS | 2025-09-08 | BB | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  |
| lad:A1059 | lad:E1028 | lad:action-AS | 2025-09-08 | BBB- | lad:type-LTIDR | lad:basis-LC | lad:outlook-STA |  |
| lad:A1060 | lad:E1028 | lad:action-UG | 2025-12-05 | BBB | lad:type-LTIDR | lad:basis-LC | lad:outlook-STA |  |
| lad:A1057 | lad:E1028 | lad:action-AF | 2025-12-16 | BB | lad:type-LTIDR | lad:basis-FC | lad:outlook-NEG |  |
| lad:A1058 | lad:E1028 | lad:action-UG | 2025-12-25 | BB | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  |
| lad:A1061 | lad:E1029 | lad:action-AS | 2022-11-21 | BBB+ | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  |
| lad:A1062 | lad:E1029 | lad:action-UG | 2025-08-08 | A- | lad:type-LTIDR | lad:basis-FC | lad:outlook-NEG |  |
| lad:A1063 | lad:E1031 | lad:action-AS | 2025-12-06 | BB+ | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  |
| lad:A1064 | lad:E1031 | lad:action-AF | 2026-06-17 | BB+ | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  |
| lad:A1066 | lad:E1032 | lad:action-AS | 2025-11-08 | A+ | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  |
| lad:A1067 | lad:E1032 | lad:action-WD | 2026-09-15 | WD | lad:type-LTIDR | lad:basis-FC |  |  |
| lad:A1068 | lad:E1033 | lad:action-AS | 2024-08-26 | A+ | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  |
| lad:A1069 | lad:E1034 | lad:action-AS | 2025-03-28 | A- | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  |
| lad:A1070 | lad:E1034 | lad:action-DG | 2026-05-02 | BBB+ | lad:type-LTIDR | lad:basis-FC | lad:outlook-NEG |  |
| lad:A1071 | lad:E1035 | lad:action-AS | 2022-10-23 | A- | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  |
| lad:A1072 | lad:E1035 | lad:action-AF | 2024-05-04 | A- | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  |
| lad:A1074 | lad:E1036 | lad:action-AS | 2022-06-01 | AA- | lad:type-LTIDR | lad:basis-FC | lad:outlook-STA |  |
(574 more rows not shown)

Query 4:

| ent | lu |
|---|---|
| 370 | 1 |

Run more queries, or give the final answers.

The model

```sparql
SELECT ?r (COUNT(DISTINCT ?t) AS ?n) (GROUP_CONCAT(DISTINCT STRAFTER(STR(?t),"ladder/");separator=",") AS ?l) WHERE {
 ?a lad:ratedThing ?t; lad:date ?d; lad:rating ?r; lad:ratingType lad:type-LTIDR; lad:ccyBasis ?bs.
 FILTER(?r IN ("RD","D","SD","WD")) FILTER(STR(?d) <= "2026-10-01")
 FILTER NOT EXISTS { ?b lad:ratedThing ?t; lad:ratingType lad:type-LTIDR; lad:ccyBasis ?bs; lad:date ?d2. FILTER(STR(?d2) <= "2026-10-01" && STR(?d2) > STR(?d)) }
} GROUP BY ?r
```

```sparql
SELECT (GROUP_CONCAT(DISTINCT STRAFTER(STR(?t),"ladder/");separator=",") AS ?everdefault) WHERE {
 ?a lad:ratedThing ?t; lad:rating ?r; lad:ratingType lad:type-LTIDR. FILTER(?r IN ("RD","D","SD"))
}
```

```sparql
SELECT (GROUP_CONCAT(DISTINCT STRAFTER(STR(?t),"ladder/");separator=",") AS ?dg2026) WHERE {
 ?a lad:ratedThing ?t; lad:date ?d; lad:action lad:action-DG; lad:ratingType lad:type-LTIDR. FILTER(STR(?d) >= "2026-01-01" && STR(?d) <= "2026-11-06")
}
```

```sparql
SELECT (COUNT(DISTINCT COALESCE(?lei,STR(?t))) AS ?all) (COUNT(DISTINCT IF(?c="GB", COALESCE(?lei,STR(?t)), ?unb)) AS ?gb) WHERE {
 ?a lad:ratedThing ?t; lad:date ?d; lad:rating ?r; lad:ratingType lad:type-LTIDR; lad:ccyBasis ?bs.
 ?t lad:country ?c. OPTIONAL{?t lad:lei ?lei}
 FILTER(?r != "WD") FILTER(STR(?d) <= "2026-10-01")
 FILTER NOT EXISTS { ?b lad:ratedThing ?t; lad:ratingType lad:type-LTIDR; lad:ccyBasis ?bs; lad:date ?d2. FILTER(STR(?d2) <= "2026-10-01" && STR(?d2) > STR(?d)) }
}
```

```sparql
SELECT ?w ?o (GROUP_CONCAT(DISTINCT STRAFTER(STR(?t),"ladder/");separator=",") AS ?l) WHERE {
 ?a lad:ratedThing ?t; lad:date ?d; lad:ratingType lad:type-LTIDR; lad:ccyBasis ?bs.
 OPTIONAL{?a lad:watch ?w} OPTIONAL{?a lad:outlook ?o}
 FILTER(BOUND(?w) || ?o = lad:outlook-NEG) FILTER(STR(?d) <= "2026-10-01")
 FILTER NOT EXISTS { ?b lad:ratedThing ?t; lad:ratingType lad:type-LTIDR; lad:ccyBasis ?bs; lad:date ?d2. FILTER(STR(?d2) <= "2026-10-01" && STR(?d2) > STR(?d)) }
} GROUP BY ?w ?o
```

```sparql
SELECT ?a ?t ?d ?r ?act WHERE { ?a lad:ratedThing ?t; lad:date ?d; lad:rating ?r; lad:action ?act. FILTER(!REGEX(STR(?t),"/(E[0-9]+|I[0-9]+)$")) }
```

```sparql
SELECT (COUNT(DISTINCT ?t) AS ?held) (COUNT(DISTINCT IF(REGEX(?r,"^(AAA|AA[+-]?|A[+-]?|BBB[+-]?)$"), ?t, ?unb)) AS ?ig) WHERE {
 ?a lad:ratedThing ?t; lad:date ?d; lad:rating ?r; lad:ratingType lad:type-INST; lad:action ?act.
 FILTER(?act NOT IN (lad:action-EX, lad:action-WD)) FILTER(STR(?d) <= "2026-10-01")
 FILTER NOT EXISTS { ?b lad:ratedThing ?t; lad:ratingType lad:type-INST; lad:date ?d2. FILTER(STR(?d2) <= "2026-10-01" && STR(?d2) > STR(?d)) }
}
```

Query results

Query 1:

| r | n | l |
|---|---|---|
| WD | 37 | E1002,E1007,E1021,E1032,E1041,E1048,E1057,E1062,E1063,E1076,E1084,E1106,E1107,E1121,E1124,E1138,E1140,E1155,E1159,E1166,E1172,E1200,E1205,E1206,E1218,E1219,E1225,E1233,E1234,E1244,E1254,E1277,E1279,E1308,E1316,E1320,E07 |
| RD | 1 | E08 |

Query 2:

| everdefault |
|---|
| E08 |

Query 3:

| dg2026 |
|---|
| 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,E08,E10,E16 |

Query 4:

| all | gb |
|---|---|
| 291 | 308 |

Query 5:

| w | o | l |
|---|---|---|
|  | lad:outlook-NEG | E01,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,E1340,E1342,E1343,E1344,E1345,E1347,E1348,E1350,E1351,E09 |
| lad:watch-RWN |  | 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,E06 |

Query 6:

| a | t | d | r | act |
|---|---|---|---|---|
| lad:A12 | lad:VD | 2025-04-01 | BB | lad:action-AS |
| lad:A37 | lad:CV | 2024-01-01 | A | lad:action-AS |
| lad:A38 | lad:CV | 2024-01-01 | BBB+ | lad:action-AS |
| lad:A39 | lad:CV | 2024-01-01 | A- | lad:action-AS |

Query 7:

| held | ig |
|---|---|
| 106 | 106 |

This was the last round: give the final answers now, with no more queries.

The model

**Q1.** A-. Kestrel (E01) was rated A- from A01 (2024-03-12) until the downgrade A02 on 2025-06-20.

**Q2.** No. In 2026 Kestrel's only actions were affirmations (A03, A04, 2026-02-10), one with the outlook moved to Negative.

**Q3.** No, BB+. The 2031 note (I02) was downgraded to BB+ by A07.

**Q4.** Positive. E02 and E03 share one LEI, so they are the same entity, and the latest action is A09 (2025-09-15) with a Positive outlook.

**Q5.** The guarantor, E02, rated A. I03 is issued by E04 and guaranteed by E02, and I03 itself is rated A (A11).

**Q6.** Valdoria's foreign-currency rating is BB (A14) and its local-currency rating is BBB- (A13). The data gives no stated reason; the likely cause is the Valdoria country ceiling, which looks like BB (A12), but A12's rating type and basis are not shown.

**Q7.** These are the issuers with a downgrade action on a long-term issuer rating in 2026 (list in the JSON). It includes E08, E10 and E16.

**Q8.** E08. Its latest rating is RD (A22, 2026-07-08).

**Q9.** 291, counting entities that share a LEI once. Some other entities may also be duplicates, so this is approximate.

**Q10.** Depends. Foreign currency is BB (A14), below investment grade; local currency is BBB- (A13), which is investment grade.

**Q11.** BBB+ (A36, 2024-09-30).

**Q12.** A- (A34, 2023-01-15).

**Q13.** 1. Only A36 is a downgrade for E14.

**Q14.** None. Halden Foods' first rating is dated 2024-02-01 (A30).

**Q15.** A-. E10 held A- (A26) until the downgrade on 2026-04-15.

**Q16.** No. It was BBB+ on 2025-01-01 and is BBB+ now (A33, 2026-05-01); a Rating Watch Negative in between (A35) was resolved by affirmation.

**Q17.** No. E06 was only placed on Rating Watch Negative (A17), with the rating held at A-.

**Q18.** The issuers whose latest action carries Rating Watch Negative (list in the JSON). It includes E06.

**Q19.** The issuers whose latest rating action carries a Negative outlook (list in the JSON). It includes E01 and E09.

**Q20.** No. Pellam's rating was withdrawn (A19, WD), which is not a default.

**Q21.** These 37 entities have a withdrawn long-term issuer rating as their latest, and E08 is not among them (it is in default, not withdrawn). The list includes E07.

**Q22.** E08, the only entity ever rated RD/D/SD (A22).

**Q23.** F2 (A04).

**Q24.** Yes. The issuer rating is BBB (A03).

**Q25.** 106. The query returned 106 both for rated instruments and for investment-grade ones, which looks inconsistent: I02 (BB+) and I04 (BB) are not investment grade. Treat this figure as unreliable.

**Q26.** A+ (A40).

**Q27.** A- (A42).

**Q28.** BBB+ (A38).

**Q29.** BB (A12 on VD). The data does not show whether that is a foreign-currency or local-currency rating.

**Q30.** E15 and E05. I read A12 (BB) as Valdoria's ceiling, which matches E05's FC BB. Corvenia's ceiling is A (A37), which matches E15's FC A (A41).

**Q31.** No. I found no foreign-currency rating above its country's ceiling.

**Q32.** E09. Halden Leasing (E11) has parent E10, whose parent is E09.

**Q33.** The guarantor, E10, rated BBB+. I05 is issued by E11 and guaranteed by E10.

**Q34.** No. E12 has no parent link to E09 or E10.

**Q35.** 3: E09, E10 and E11. E17 shares E10's LEI, so I counted it as the same entity.

**Q36.** 2: E02 and E04. E03 duplicates E02.

**Q37.** 344. There are 370 entity records and 26 LEIs shared by two records each.

**Q38.** No. They have different countries, different LEIs and different types (E06 is a bank in DE; E13 is a bank holding company in the US).

**Q39.** A, assuming the latest action is the E03 affirmation (A09, 2025-09-15).

**Q40.** 308, but this is low confidence. The same query returned a lower total of 291, so it is internally inconsistent.

**Q41.** BB+ (A44).

**Q42.** DE (E10). E17 has the same LEI and says LU, so the data conflicts on this.

**Q43.** 1. Only E17 is in LU, and it duplicates E10.

**Q44.** Yes. I07 is denominated in XVD, which appears to be Valdoria's currency.

**Q45.** No. The note's BBB- is a local-currency rating, and the ceiling (BB) constrains foreign-currency ratings.

**Q46.** No. E11 has only a support-based "CO" rating (A46), not an issuer rating.

**Q47.** None. I08's rating A was expired by action EX on 2026-09-01 (A47).

**Q48.** 106 (see the caveat in Q25).

```json
{"Q1":{"rating":"A-"},"Q2":{"downgraded":"no"},"Q3":{"investment_grade":"no","rating":"BB+"},"Q4":{"outlook":"Positive"},"Q5":{"risk_of":"E02","rating":"A"},"Q7":{"issuers":["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","E08","E10","E16"]},"Q8":{"entities":["E08"]},"Q9":{"count":291},"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":["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","E06"]},"Q19":{"issuers":["E01","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","E1340","E1342","E1343","E1344","E1345","E1347","E1348","E1350","E1351","E09"]},"Q20":{"in_default":"no"},"Q21":{"entities":["E1002","E1007","E1021","E1032","E1041","E1048","E1057","E1062","E1063","E1076","E1084","E1106","E1107","E1121","E1124","E1138","E1140","E1155","E1159","E1166","E1172","E1200","E1205","E1206","E1218","E1219","E1225","E1233","E1234","E1244","E1254","E1277","E1279","E1308","E1316","E1320","E07"]},"Q22":{"entities":["E08"]},"Q23":{"rating":"F2"},"Q24":{"investment_grade":"yes"},"Q25":{"count":106},"Q26":{"rating":"A+"},"Q27":{"rating":"A-"},"Q28":{"rating":"BBB+"},"Q29":{"rating":"BB"},"Q30":{"entities":["E15","E05"]},"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":308},"Q41":{"rating":"BB+"},"Q42":{"country":"DE"},"Q43":{"count":1},"Q44":{"local_currency":"yes"},"Q45":{"above_ceiling":"no"},"Q46":{"issuer_rating":"no"},"Q47":{"rating":"none"},"Q48":{"count":106}}
```