Q9, run 2026-11-04-2022-sonnet

As of 1 October 2026, how many distinct issuers hold an issuer rating?

Tests: Everything at once: identity, withdrawal, instrument versus issuer, ceiling versus rating.

Expected: count = 377

❌ R1 csv run 1 graded by code

391. This is my count of distinct issuers whose latest LTIDR action on 1 Oct 2026 is not a withdrawal, with duplicates merged. It is a long manual count and could be off by a few. E1115, E1158 and E1303 have later actions after a withdrawal (A1250, A1337/A1338, A1649), so I counted them as rated.

JSON: {"count": 391}

Why: count: expected 377, got 391

✅ R1 csv run 2 graded by code

377, from my manual tally, so treat it as approximate. This counts canonical, non-QA issuers whose latest LTIDR action on or before 2026-10-01 is not a withdrawal. E1115, E1158 and E1303 count as rated because later actions follow their WD. E1279 counts because its LC rating was not withdrawn.

JSON: {"count": 377}

❌ R1 csv run 3 graded by code

389. This counts distinct (LEI-deduplicated) entities whose latest LTIDR action on 2026-10-01 is not WD, including CV. Where a WD is followed by a later dated action (E1115, E1303), I counted the entity as rated. It is a long manual count, so treat it as approximate.

JSON: {"count": 389}

Why: count: expected 377, got 389

✅ R1 csv run 4 graded by code

377 distinct issuers.
- I counted entities with an LTIDR (long-term issuer default rating) that was not withdrawn by 2026-10-01.
- I merged duplicates and excluded QA records.
- I treated the sovereign VD as unrated, since it has only a country ceiling.

JSON: {"count": 377}

❌ R1 csv run 5 graded by code

I can't give a reliable count. It needs a per-entity latest-status pass over several hundred entities that I did not complete, so the JSON has null.

JSON: {"count": null}

Why: count: expected 377, got None

✅ R4 csv+markdown run 1 graded by code

377. This counts distinct LEIs (CV included) whose latest issuer-rating action by date is not a withdrawal, excluding QA records. E1115, E1158 and E1303 are counted because later-dated actions follow their withdrawals; E1106 and E1279 keep one currency basis.

JSON: {"count": 377}

✅ R4 csv+markdown run 2 graded by code

377. This counts distinct entities (by LEI) whose latest LTIDR or STIDR action on any basis is not a withdrawal and is dated on or before 2026-10-01, excluding QA records. Three entities (E1115, E1158, E1303) have an action dated after their withdrawal, and I followed the dates, so they count as rated.

JSON: {"count": 377}

❌ R4 csv+markdown run 3 graded by code

376. This counts distinct LEIs with an LTIDR in force on 2026-10-01 and excludes QA records. Where a withdrawal is dated earlier than a later action (E1115, E1158, E1303), I followed the latest date.

JSON: {"count": 376}

Why: count: expected 377, got 376

✅ R4 csv+markdown run 4 graded by code

377. I merged same-LEI records, excluded QA and sovereigns, and removed 32 entities whose latest action is a withdrawal. E1115, E1158 and E1303 have actions dated after their withdrawal, so I counted them as rated.

JSON: {"count": 377}

✅ R4 csv+markdown run 5 graded by code

377. This counts distinct LEIs whose latest LTIDR/STIDR action on 1 Oct 2026 is not WD, excluding QA records.

JSON: {"count": 377}

✅ R10 executed run 1 graded by code

377. This counts entities with a non-withdrawn LTIDR or STIDR open on 1 October 2026. E1279 and E1106 count because they still hold an open FC or LC rating.

JSON: {"count": 377}

✅ R10 executed run 2 graded by code

377. This counts entities with a non-withdrawn issuer rating in force on 2026-10-01, including E1279, which has only an LC rating (A1596) after its FC rating was withdrawn.

JSON: {"count": 377}

✅ R10 executed run 3 graded by code

377. This counts entities with an open, non-WD LTIDR row, including the E08 RD row and the E5033 row dated after the snapshot. The Republic of Valdoria (VD) has no rating.

JSON: {"count": 377}

✅ R10 executed run 4 graded by code

377. This counts entities with a non-withdrawn LTIDR (FC or LC) in force on 2026-10-01, including sovereign CV and the RD entity E08. It is a long manual tally.

JSON: {"count": 377}

✅ R10 executed run 5 graded by code

377. This counts entities with an LTIDR in force on 1 October 2026 that is not WD. It includes the sovereign CV and entities rated only in local currency, such as E1279. Without CV it is 376.

JSON: {"count": 377}

✅ R8 csv+axioms run 1 graded by code

About 377. This is an estimate only (low confidence); I did not tally every entity exactly. It counts distinct LEIs with an issuer rating in force, excluding withdrawn and QA records.

JSON: {"count": 377}

❌ R8 csv+axioms run 2 graded by code

376. This is a manual count of distinct LEIs with a non-QA issuer rating not ended by a withdrawal; it is the least certain figure here.

JSON: {"count": 376}

Why: count: expected 377, got 376

✅ R8 csv+axioms run 3 graded by code

About 377. I counted entities with an issuer rating in force on 1 Oct 2026, merging records that share a LEI and excluding withdrawn ratings, QA records, and entities with only credit opinions or ceilings. This was a manual tally, so treat it as approximate.

JSON: {"count": 377}

✅ R8 csv+axioms run 4 graded by code

377. This counts distinct issuers (by LEI) with a rating in force on 2026-10-01, excluding QA records and 35 withdrawn issuers. It is a hand count over a very large file, so treat it as approximate.

JSON: {"count": 377}

✅ R8 csv+axioms run 5 graded by code

377. This is distinct LEIs whose latest LTIDR or STIDR action is not a withdrawal, excluding QA records. Note that E1115, E1158 and E1303 stay rated because of later UG, AF and UG actions after their withdrawals, and E1106 and E1279 stay rated on one currency basis.

JSON: {"count": 377}