Q18, run 2026-11-04-2022-sonnet

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

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

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

✅ R1 csv run 1 graded by code

32 issuers have a Rating Watch Negative as their latest action, listed in the JSON. For E1059 and E1019 the watch is on the LC rating (A1132, A1042).

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

✅ R1 csv run 2 graded by code

The issuers whose latest action leaves them on RWN on 2026-10-01 are in the JSON. E1019 and E1059 are included on the basis of an LC-basis watch only.

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

✅ R1 csv run 3 graded by code

32 issuers were on RWN on 2026-10-01 (list in JSON). Each had RW as its latest action, with no later resolving action. E1059 is on RWN for its LC rating only (A1132).

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

✅ R1 csv run 4 graded by code

Thirty-two issuers (list in JSON). Each has a Rating Watch Negative action that no later action cleared as of 2026-10-01.

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

✅ R1 csv run 5 graded by code

32 issuers, listed in the JSON (E06 via A17, plus others whose latest action is a watch placement). For E1019 and E1059 only the local-currency rating is on watch (A1041/A1042 and A1132). This is a scan, not a verified run.

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

❌ R4 csv+markdown run 1 graded by code

31 issuers, listed in the JSON, are on RWN: those whose latest action on a rating is a Rating Watch with no later action by 2026-10-01.

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

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

✅ R4 csv+markdown run 2 graded by code

32 issuers (list in the JSON). Each has a Rating Watch Negative as its latest action on that series. E1019 and E1059 are on Watch only on their local-currency series.

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

❌ R4 csv+markdown run 3 graded by code

31 entities, listed in JSON. Each has a latest action that is a watch with RWN. E1059 and E1019 are on watch for their LC ratings only.

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

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

✅ R4 csv+markdown run 4 graded by code

32 issuers (listed in the JSON). I took each entity's latest action and kept those where it is a Rating Watch Negative (RW) action; E1019 is on watch for its LC rating.

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

✅ R4 csv+markdown run 5 graded by code

32 issuers (list in the JSON). Each has a Watch Negative as its latest action on 1 Oct 2026, not cleared by a later action.

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

❌ R10 executed run 1 graded by code

31 issuers (listed in the JSON), found from open rows carrying watch RWN.

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

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

✅ R10 executed run 2 graded by code

32 issuers are on Rating Watch Negative, listed in the JSON below.

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

✅ R10 executed run 3 graded by code

31 entities, listed in the JSON. These are entities with an open row carrying the RWN watch, including three whose open RWN row is on the local-currency basis (E1019, E1059, E1194).

✅ R10 executed run 4 graded by code

32 entities, listed in the JSON, with watch RWN in force on 2026-10-01. E1019 and E1059 are on watch only on their LC ratings.

✅ R10 executed run 5 graded by code

32 entities (listed in the JSON), counting a watch on either the foreign- or local-currency rating.

❌ R8 csv+axioms run 1 graded by code

31 issuers were on RWN; the IDs are in the JSON. These are issuers whose latest action carries RWN, including E06 (A17).

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

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

✅ R8 csv+axioms run 2 graded by code

32 issuers had a Rating Watch Negative as the latest action on their rating series on 2026-10-01. The list includes E1019 and E1059, whose watches are on the local-currency series.

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

✅ R8 csv+axioms run 3 graded by code

32 issuers (list in JSON). Each has an in-force action carrying Rating Watch Negative (RWN) on 1 Oct 2026, with no later action resolving it.

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

❌ R8 csv+axioms run 4 graded by code

31 entities, listed in the JSON. Each has an RWN action as its latest in force on 2026-10-01 (for example A17 on E06). E1209 is reported for the research record E1210.

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

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

✅ R8 csv+axioms run 5 graded by code

32 issuers, listed in the JSON. Each has a watch placement as its latest action in the series.

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