Q21, run 2026-11-04-2022-sonnet

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Which entities had an issuer rating at some point but no longer had one on 1 October 2026?

Tests: Withdrawals: a withdrawn rating is no rating.

Expected: entities = ['E07', 'E1001', 'E1007', 'E1021', 'E1032', 'E1041', 'E1048', 'E1057', 'E1062', 'E1063', 'E1076', 'E1084', 'E1107', 'E1121', 'E1124', 'E1138', 'E1140', 'E1155', 'E1159', 'E1166', 'E1172', 'E1200', 'E1205', 'E1206', 'E1218', 'E1219', 'E1225', 'E1233', 'E1234', 'E1244', 'E1253', 'E1277', 'E1308', 'E1316', 'E1320']

✅ R1 csv run 1 graded by code

35 entities had a rating that was later withdrawn, listed in the JSON, with E1001 and E1253 standing for their duplicates E1002 and E1254. I left out E1279 and E1106 because each still holds a rating on one currency basis.

JSON: {"entities": ["E07", "E1001", "E1007", "E1021", "E1032", "E1041", "E1048", "E1057", "E1062", "E1063", "E1076", "E1084", "E1107", "E1121", "E1124", "E1138", "E1140", "E1155", "E1159", "E1166", "E1172", "E1200", "E1205", "E1206", "E1218", "E1219", "E1225", "E1233", "E1234", "E1244", "E1253", "E1277", "E1308", "E1316", "E1320"]}

✅ R1 csv run 2 graded by code

The 35 entities that had an issuer rating but whose last action is a withdrawal are in the JSON. They are E07 and 34 others, using the canonical record IDs.

JSON: {"entities": ["E07", "E1001", "E1007", "E1021", "E1032", "E1041", "E1048", "E1057", "E1062", "E1063", "E1076", "E1084", "E1107", "E1121", "E1124", "E1138", "E1140", "E1155", "E1159", "E1166", "E1172", "E1200", "E1205", "E1206", "E1218", "E1219", "E1225", "E1233", "E1234", "E1244", "E1253", "E1277", "E1308", "E1316", "E1320"]}

❌ R1 csv run 3 graded by code

37 entities (list in JSON). Each had an LTIDR and then a WD before 2026-10-01 with no later re-rating. E1279 is counted because its FC rating was withdrawn (A1594).

JSON: {"entities": ["E07", "E1001", "E1007", "E1021", "E1032", "E1041", "E1048", "E1057", "E1062", "E1063", "E1076", "E1084", "E1107", "E1121", "E1124", "E1138", "E1140", "E1155", "E1158", "E1159", "E1166", "E1172", "E1200", "E1205", "E1206", "E1218", "E1219", "E1225", "E1233", "E1234", "E1244", "E1253", "E1277", "E1279", "E1308", "E1316", "E1320"]}

Why: entities: expected ['E07', 'E1001', 'E1007', 'E1021', 'E1032', 'E1041', 'E1048', 'E1057', 'E1062', 'E1063', 'E1076', 'E1084', 'E1107', 'E1121', 'E1124', 'E1138', 'E1140', 'E1155', 'E1159', 'E1166', 'E1172', 'E1200', 'E1205', 'E1206', 'E1218', 'E1219', 'E1225', 'E1233', 'E1234', 'E1244', 'E1253', 'E1277', 'E1308', 'E1316', 'E1320'], got ['E07', 'E1001', 'E1007', 'E1021', 'E1032', 'E1041', 'E1048', 'E1057', 'E1062', 'E1063', 'E1076', 'E1084', 'E1107', 'E1121', 'E1124', 'E1138', 'E1140', 'E1155', 'E1158', 'E1159', 'E1166', 'E1172', 'E1200', 'E1205', 'E1206', 'E1218', 'E1219', 'E1225', 'E1233', 'E1234', 'E1244', 'E1253', 'E1277', 'E1279', 'E1308', 'E1316', 'E1320']

✅ R1 csv run 4 graded by code

Thirty-five entities (list in JSON). Each had an LTIDR that was withdrawn on or before 2026-10-01.

JSON: {"entities": ["E07", "E1001", "E1007", "E1021", "E1032", "E1041", "E1048", "E1057", "E1062", "E1063", "E1076", "E1084", "E1107", "E1121", "E1124", "E1138", "E1140", "E1155", "E1159", "E1166", "E1172", "E1200", "E1205", "E1206", "E1218", "E1219", "E1225", "E1233", "E1234", "E1244", "E1253", "E1277", "E1308", "E1316", "E1320"]}

❌ R1 csv run 5 graded by code

36 entities, listed in the JSON (E07 via A19, plus others whose last issuer-rating action is a withdrawal). E1106 and E1279 are excluded because a rating on the other currency basis remains.

JSON: {"entities": ["E07", "E1001", "E1007", "E1021", "E1032", "E1041", "E1048", "E1057", "E1062", "E1063", "E1076", "E1084", "E1107", "E1115", "E1121", "E1124", "E1138", "E1140", "E1155", "E1166", "E1172", "E1200", "E1205", "E1206", "E1218", "E1219", "E1225", "E1233", "E1234", "E1244", "E1253", "E1277", "E1308", "E1316", "E1320", "E1159"]}

Why: entities: expected ['E07', 'E1001', 'E1007', 'E1021', 'E1032', 'E1041', 'E1048', 'E1057', 'E1062', 'E1063', 'E1076', 'E1084', 'E1107', 'E1121', 'E1124', 'E1138', 'E1140', 'E1155', 'E1159', 'E1166', 'E1172', 'E1200', 'E1205', 'E1206', 'E1218', 'E1219', 'E1225', 'E1233', 'E1234', 'E1244', 'E1253', 'E1277', 'E1308', 'E1316', 'E1320'], got ['E07', 'E1001', 'E1007', 'E1021', 'E1032', 'E1041', 'E1048', 'E1057', 'E1062', 'E1063', 'E1076', 'E1084', 'E1107', 'E1115', 'E1121', 'E1124', 'E1138', 'E1140', 'E1155', 'E1166', 'E1172', 'E1200', 'E1205', 'E1206', 'E1218', 'E1219', 'E1225', 'E1233', 'E1234', 'E1244', 'E1253', 'E1277', 'E1308', 'E1316', 'E1320', 'E1159']

✅ R4 csv+markdown run 1 graded by code

35 entities had a rating that was later withdrawn, with no later-dated action, by 2026-10-01 (see JSON).

JSON: {"entities": ["E07", "E1001", "E1007", "E1021", "E1032", "E1041", "E1048", "E1057", "E1062", "E1063", "E1076", "E1084", "E1107", "E1121", "E1124", "E1138", "E1140", "E1155", "E1159", "E1166", "E1172", "E1200", "E1205", "E1206", "E1218", "E1219", "E1225", "E1233", "E1234", "E1244", "E1253", "E1277", "E1308", "E1316", "E1320"]}

✅ R4 csv+markdown run 2 graded by code

35 entities (list in the JSON). Each had a rating and then a withdrawal dated on or before 2026-10-01 as its latest action.

JSON: {"entities": ["E07", "E1001", "E1007", "E1021", "E1032", "E1041", "E1048", "E1057", "E1062", "E1063", "E1076", "E1084", "E1107", "E1121", "E1124", "E1138", "E1140", "E1155", "E1159", "E1166", "E1172", "E1200", "E1205", "E1206", "E1218", "E1219", "E1225", "E1233", "E1234", "E1244", "E1253", "E1277", "E1308", "E1316", "E1320"]}

✅ R4 csv+markdown run 3 graded by code

35 entities, listed in JSON. Each had an LTIDR that was later withdrawn, with no other basis left in force; the research-only records are given by their RATINGS twin.

JSON: {"entities": ["E07", "E1001", "E1007", "E1021", "E1032", "E1041", "E1048", "E1057", "E1062", "E1063", "E1076", "E1084", "E1107", "E1121", "E1124", "E1138", "E1140", "E1155", "E1159", "E1166", "E1172", "E1200", "E1205", "E1206", "E1218", "E1219", "E1225", "E1233", "E1234", "E1244", "E1253", "E1277", "E1308", "E1316", "E1320"]}

✅ R4 csv+markdown run 4 graded by code

35 entities (listed in the JSON), each with a withdrawal as the latest action. E1279 and E1106 still hold an LC or FC rating, so they are not included.

JSON: {"entities": ["E07", "E1001", "E1007", "E1021", "E1032", "E1041", "E1048", "E1057", "E1062", "E1063", "E1076", "E1084", "E1107", "E1121", "E1124", "E1138", "E1140", "E1155", "E1159", "E1166", "E1172", "E1200", "E1205", "E1206", "E1218", "E1219", "E1225", "E1233", "E1234", "E1244", "E1253", "E1277", "E1308", "E1316", "E1320"]}

✅ R4 csv+markdown run 5 graded by code

36 entities (list in the JSON). Each had an issuer rating that was withdrawn, with no later action restoring it by 1 Oct 2026. Where a later action followed a withdrawal (E1115, E1303, E1158), the later action holds, so those entities still have a rating.

JSON: {"entities": ["E07", "E1277", "E1140", "E1225", "E1218", "E1107", "E1234", "E1166", "E1172", "E1253", "E1021", "E1062", "E1007", "E1063", "E1138", "E1048", "E1076", "E1200", "E1206", "E1219", "E1320", "E1316", "E1308", "E1159", "E1155", "E1057", "E1001", "E1032", "E1041", "E1124", "E1121", "E1205", "E1233", "E1244", "E1084"]}

✅ R10 executed run 1 graded by code

35 entities, all with an open WD record and no other open issuer rating (listed in the JSON).

JSON: {"entities": ["E07", "E1001", "E1007", "E1021", "E1032", "E1041", "E1048", "E1057", "E1062", "E1063", "E1076", "E1084", "E1107", "E1121", "E1124", "E1138", "E1140", "E1155", "E1159", "E1166", "E1172", "E1200", "E1205", "E1206", "E1218", "E1219", "E1225", "E1233", "E1234", "E1244", "E1253", "E1277", "E1308", "E1316", "E1320"]}

✅ R10 executed run 2 graded by code

35 entities had a rating that was later withdrawn and not replaced, listed in the JSON below.

JSON: {"entities": ["E07", "E1001", "E1007", "E1021", "E1032", "E1041", "E1048", "E1057", "E1062", "E1063", "E1076", "E1084", "E1107", "E1121", "E1124", "E1138", "E1140", "E1155", "E1159", "E1166", "E1172", "E1200", "E1205", "E1206", "E1218", "E1219", "E1225", "E1233", "E1234", "E1244", "E1253", "E1277", "E1308", "E1316", "E1320"]}

✅ R10 executed run 3 graded by code

35 entities, listed in the JSON. Their latest open row is WD and they have no other open rating. E1106 and E1279 are excluded because each still holds an open rating on the other currency basis.

JSON: {"entities": ["E07", "E1001", "E1007", "E1021", "E1032", "E1041", "E1048", "E1057", "E1062", "E1063", "E1076", "E1084", "E1107", "E1121", "E1124", "E1138", "E1140", "E1155", "E1159", "E1166", "E1172", "E1200", "E1205", "E1206", "E1218", "E1219", "E1225", "E1233", "E1234", "E1244", "E1253", "E1277", "E1308", "E1316", "E1320"]}

✅ R10 executed run 4 graded by code

35 entities whose current issuer rating is WD, listed in the JSON, with no other basis still in force.

JSON: {"entities": ["E07", "E1001", "E1007", "E1021", "E1032", "E1041", "E1048", "E1057", "E1062", "E1063", "E1076", "E1084", "E1107", "E1121", "E1124", "E1138", "E1140", "E1155", "E1159", "E1166", "E1172", "E1200", "E1205", "E1206", "E1218", "E1219", "E1225", "E1233", "E1234", "E1244", "E1253", "E1277", "E1308", "E1316", "E1320"]}

✅ R10 executed run 5 graded by code

35 entities whose issuer ratings ended in WD (listed in the JSON). E1106 and E1279 still have a foreign- or local-currency rating in force, so they are excluded.

JSON: {"entities": ["E07", "E1001", "E1007", "E1021", "E1032", "E1041", "E1048", "E1057", "E1062", "E1063", "E1076", "E1084", "E1107", "E1121", "E1124", "E1138", "E1140", "E1155", "E1159", "E1166", "E1172", "E1200", "E1205", "E1206", "E1218", "E1219", "E1225", "E1233", "E1234", "E1244", "E1253", "E1277", "E1308", "E1316", "E1320"]}

✅ R8 csv+axioms run 1 graded by code

36 entities had an issuer rating that ended in withdrawal; the IDs are in the JSON. Entities that were re-rated afterwards (E1115, E1158, E1303) or that keep a rating on another basis (E1106, E1279) are excluded.

JSON: {"entities": ["E07", "E1277", "E1140", "E1225", "E1218", "E1107", "E1234", "E1166", "E1172", "E1254", "E1062", "E1063", "E1041", "E1048", "E1002", "E1021", "E1007", "E1032", "E1057", "E1084", "E1076", "E1121", "E1124", "E1138", "E1155", "E1159", "E1200", "E1205", "E1206", "E1219", "E1244", "E1308", "E1316", "E1320", "E1233"]}

✅ R8 csv+axioms run 2 graded by code

35 entities. All were withdrawn before 2026-10-01, with no later rating action.

JSON: {"entities": ["E07", "E1002", "E1007", "E1021", "E1032", "E1041", "E1048", "E1057", "E1062", "E1063", "E1076", "E1084", "E1107", "E1121", "E1124", "E1138", "E1140", "E1155", "E1159", "E1166", "E1172", "E1200", "E1205", "E1206", "E1218", "E1219", "E1225", "E1233", "E1234", "E1244", "E1254", "E1277", "E1308", "E1316", "E1320"]}

✅ R8 csv+axioms run 3 graded by code

35 entities (list in JSON). Each had an issuer rating that was later withdrawn (WD) with no other basis still in force.

JSON: {"entities": ["E07", "E1002", "E1007", "E1021", "E1032", "E1041", "E1048", "E1057", "E1062", "E1063", "E1076", "E1084", "E1107", "E1121", "E1124", "E1138", "E1140", "E1155", "E1159", "E1166", "E1172", "E1200", "E1205", "E1206", "E1218", "E1219", "E1225", "E1233", "E1234", "E1244", "E1254", "E1277", "E1308", "E1316", "E1320"]}

✅ R8 csv+axioms run 4 graded by code

35 entities, listed in the JSON. Each had an issuer rating that was withdrawn with no later action, for example A19 on E07 and A1002 on E1002 (reported as E1001). A few WD records are followed by later actions (E1115, E1158, E1303), so those entities are still rated.

JSON: {"entities": ["E07", "E1001", "E1007", "E1021", "E1032", "E1041", "E1048", "E1057", "E1062", "E1063", "E1076", "E1084", "E1107", "E1121", "E1124", "E1138", "E1140", "E1155", "E1159", "E1166", "E1172", "E1200", "E1205", "E1206", "E1218", "E1219", "E1225", "E1233", "E1234", "E1244", "E1253", "E1277", "E1308", "E1316", "E1320"]}

✅ R8 csv+axioms run 5 graded by code

35 entities, listed in the JSON. Their latest action is a withdrawal.

JSON: {"entities": ["E07", "E1002", "E1007", "E1021", "E1032", "E1041", "E1048", "E1057", "E1062", "E1063", "E1076", "E1084", "E1107", "E1121", "E1124", "E1138", "E1140", "E1155", "E1159", "E1166", "E1172", "E1200", "E1205", "E1206", "E1218", "E1219", "E1225", "E1233", "E1234", "E1244", "E1254", "E1277", "E1308", "E1316", "E1320"]}