Q7, run 2026-11-05-1515-sonnet-query

← back to the run

Which issuers were downgraded in 2026?

Tests: Action types: outlook changes, Watch placements and withdrawals are not downgrades.

Expected: issuers = ['E08', 'E10', 'E1034', 'E1051', 'E1053', 'E1057', 'E1058', 'E1064', 'E1080', 'E1093', 'E1112', 'E1144', 'E1151', 'E1159', 'E1160', 'E1163', 'E1167', 'E1169', 'E1186', 'E1213', 'E1228', 'E1229', 'E1243', 'E1255', 'E1263', 'E1285', 'E1290', 'E1294', 'E1298', 'E1300', 'E1307', 'E5019', 'E5033', 'E5059', 'E5097', 'E5113', 'E5116', 'E5156']

❌ D1 sql run 1 graded by code · query session

49 issuers had a downgrade (DG) action in 2026 up to 2026-11-05 (list in JSON). Duplicate research records E1170, E1161 and E1299 are mapped to E1169, E1160 and E1298. Some DG actions are listed with an unchanged rating (e.g. E1051), so I kept them as recorded.

JSON: {"issuers": ["E16", "E1340", "E1346", "E1167", "E1058", "E08", "E1348", "E1186", "E1112", "E1350", "E1294", "E1151", "E5156", "E1169", "E1034", "E1298", "E1053", "E1144", "E5019", "E1159", "E1057", "E1243", "E5113", "E1064", "E1343", "E1093", "E1080", "E5116", "E1307", "E1345", "E1229", "E1263", "E1255", "E1228", "E1349", "E5097", "E1163", "E1213", "E1300", "E1051", "E1347", "E1344", "E1290", "E1285", "E10", "E5059", "E1160", "E1351", "E1342"]}

Why: issuers: expected ['E08', 'E10', 'E1034', 'E1051', 'E1053', 'E1057', 'E1058', 'E1064', 'E1080', 'E1093', 'E1112', 'E1144', 'E1151', 'E1159', 'E1160', 'E1163', 'E1167', 'E1169', 'E1186', 'E1213', 'E1228', 'E1229', 'E1243', 'E1255', 'E1263', 'E1285', 'E1290', 'E1294', 'E1298', 'E1300', 'E1307', 'E5019', 'E5033', 'E5059', 'E5097', 'E5113', 'E5116', 'E5156'], got ['E16', 'E1340', 'E1346', 'E1167', 'E1058', 'E08', 'E1348', 'E1186', 'E1112', 'E1350', 'E1294', 'E1151', 'E5156', 'E1169', 'E1034', 'E1298', 'E1053', 'E1144', 'E5019', 'E1159', 'E1057', 'E1243', 'E5113', 'E1064', 'E1343', 'E1093', 'E1080', 'E5116', 'E1307', 'E1345', 'E1229', 'E1263', 'E1255', 'E1228', 'E1349', 'E5097', 'E1163', 'E1213', 'E1300', 'E1051', 'E1347', 'E1344', 'E1290', 'E1285', 'E10', 'E5059', 'E1160', 'E1351', 'E1342']

❌ D1 sql run 2 graded by code · query session

The issuers with a 2026 issuer-level downgrade are listed in the JSON, excluding the future-dated E5033 and E1341. I05 is an instrument downgrade, so it is not counted.

JSON: {"issuers": ["E08", "E10", "E16", "E1170", "E1051", "E1080", "E1307", "E1167", "E1345", "E1350", "E1229", "E5156", "E5116", "E5059", "E1340", "E1299", "E5097", "E1161", "E1351", "E1290", "E1263", "E1255", "E1064", "E1053", "E1285", "E1034", "E1163", "E1348", "E1144", "E1344", "E1186", "E5019", "E1058", "E1213", "E1294", "E1159", "E1346", "E1343", "E1057", "E1228", "E1347", "E1300", "E1112", "E1349", "E1093", "E1342", "E1243", "E5113", "E1151"]}

Why: issuers: expected ['E08', 'E10', 'E1034', 'E1051', 'E1053', 'E1057', 'E1058', 'E1064', 'E1080', 'E1093', 'E1112', 'E1144', 'E1151', 'E1159', 'E1160', 'E1163', 'E1167', 'E1169', 'E1186', 'E1213', 'E1228', 'E1229', 'E1243', 'E1255', 'E1263', 'E1285', 'E1290', 'E1294', 'E1298', 'E1300', 'E1307', 'E5019', 'E5033', 'E5059', 'E5097', 'E5113', 'E5116', 'E5156'], got ['E08', 'E10', 'E16', 'E1170', 'E1051', 'E1080', 'E1307', 'E1167', 'E1345', 'E1350', 'E1229', 'E5156', 'E5116', 'E5059', 'E1340', 'E1299', 'E5097', 'E1161', 'E1351', 'E1290', 'E1263', 'E1255', 'E1064', 'E1053', 'E1285', 'E1034', 'E1163', 'E1348', 'E1144', 'E1344', 'E1186', 'E5019', 'E1058', 'E1213', 'E1294', 'E1159', 'E1346', 'E1343', 'E1057', 'E1228', 'E1347', 'E1300', 'E1112', 'E1349', 'E1093', 'E1342', 'E1243', 'E5113', 'E1151']

❌ D1 sql run 3 graded by code · query session

The list is in the JSON; it counts issuers with a 2026 downgrade (DG) action dated on or before today (2026-11-05). I excluded E1341, whose downgrade is dated 2026-11-09. Inclusion of any other future-dated downgrades hasn't been checked.

JSON: {"issuers": ["E1034", "E1080", "E5116", "E1064", "E1343", "E1093", "E1167", "E1058", "E1344", "E10", "E5059", "E1160", "E1351", "E1342", "E1053", "E1144", "E5019", "E1159", "E1057", "E1243", "E5113", "E1051", "E1347", "E5097", "E1163", "E1213", "E1300", "E1290", "E1285", "E1307", "E1345", "E1229", "E1298", "E1263", "E1255", "E5033", "E1228", "E1349", "E1350", "E1294", "E1151", "E16", "E1340", "E1346", "E08", "E1169", "E1348", "E1186", "E1112", "E5156"]}

Why: issuers: expected ['E08', 'E10', 'E1034', 'E1051', 'E1053', 'E1057', 'E1058', 'E1064', 'E1080', 'E1093', 'E1112', 'E1144', 'E1151', 'E1159', 'E1160', 'E1163', 'E1167', 'E1169', 'E1186', 'E1213', 'E1228', 'E1229', 'E1243', 'E1255', 'E1263', 'E1285', 'E1290', 'E1294', 'E1298', 'E1300', 'E1307', 'E5019', 'E5033', 'E5059', 'E5097', 'E5113', 'E5116', 'E5156'], got ['E1034', 'E1080', 'E5116', 'E1064', 'E1343', 'E1093', 'E1167', 'E1058', 'E1344', 'E10', 'E5059', 'E1160', 'E1351', 'E1342', 'E1053', 'E1144', 'E5019', 'E1159', 'E1057', 'E1243', 'E5113', 'E1051', 'E1347', 'E5097', 'E1163', 'E1213', 'E1300', 'E1290', 'E1285', 'E1307', 'E1345', 'E1229', 'E1298', 'E1263', 'E1255', 'E5033', 'E1228', 'E1349', 'E1350', 'E1294', 'E1151', 'E16', 'E1340', 'E1346', 'E08', 'E1169', 'E1348', 'E1186', 'E1112', 'E5156']

❌ D1 sql run 4 graded by code · query session

The issuers with a 2026 LTIDR downgrade are listed in the JSON, after merging duplicate records that share an LEI.

JSON: {"issuers": ["E1285", "E1290", "E1151", "E1294", "E1350", "E08", "E1112", "E1169", "E1186", "E1348", "E1058", "E1167", "E1341", "E5156", "E1053", "E1057", "E1144", "E1159", "E1243", "E5019", "E5113", "E1051", "E1347", "E1163", "E1213", "E1300", "E5097", "E1344", "E16", "E1340", "E1346", "E1080", "E5116", "E1228", "E1229", "E1255", "E1263", "E1298", "E1307", "E1345", "E1349", "E5033", "E1034", "E10", "E1160", "E1342", "E1351", "E5059", "E1064", "E1093", "E1343"]}

Why: issuers: expected ['E08', 'E10', 'E1034', 'E1051', 'E1053', 'E1057', 'E1058', 'E1064', 'E1080', 'E1093', 'E1112', 'E1144', 'E1151', 'E1159', 'E1160', 'E1163', 'E1167', 'E1169', 'E1186', 'E1213', 'E1228', 'E1229', 'E1243', 'E1255', 'E1263', 'E1285', 'E1290', 'E1294', 'E1298', 'E1300', 'E1307', 'E5019', 'E5033', 'E5059', 'E5097', 'E5113', 'E5116', 'E5156'], got ['E1285', 'E1290', 'E1151', 'E1294', 'E1350', 'E08', 'E1112', 'E1169', 'E1186', 'E1348', 'E1058', 'E1167', 'E1341', 'E5156', 'E1053', 'E1057', 'E1144', 'E1159', 'E1243', 'E5019', 'E5113', 'E1051', 'E1347', 'E1163', 'E1213', 'E1300', 'E5097', 'E1344', 'E16', 'E1340', 'E1346', 'E1080', 'E5116', 'E1228', 'E1229', 'E1255', 'E1263', 'E1298', 'E1307', 'E1345', 'E1349', 'E5033', 'E1034', 'E10', 'E1160', 'E1342', 'E1351', 'E5059', 'E1064', 'E1093', 'E1343']

❌ D1 sql run 5 graded by code · query session

50 entities, listed in the JSON, after merging duplicate records by LEI. I excluded E5033, whose downgrade is dated 2026-11-06, after today. Other future-dated actions may exist that I did not check.

JSON: {"issuers": ["E1058", "E1167", "E1341", "E1064", "E1093", "E1343", "E1151", "E1294", "E1350", "E1344", "E1034", "E1051", "E1347", "E1080", "E5116", "E5156", "E1285", "E1290", "E10", "E1160", "E5059", "E1342", "E1351", "E1053", "E1057", "E1144", "E1159", "E1243", "E5019", "E5113", "E16", "E1340", "E1346", "E1163", "E1213", "E1300", "E5097", "E08", "E1112", "E1169", "E1186", "E1348", "E1228", "E1229", "E1255", "E1263", "E1298", "E1307", "E1345", "E1349"]}

Why: issuers: expected ['E08', 'E10', 'E1034', 'E1051', 'E1053', 'E1057', 'E1058', 'E1064', 'E1080', 'E1093', 'E1112', 'E1144', 'E1151', 'E1159', 'E1160', 'E1163', 'E1167', 'E1169', 'E1186', 'E1213', 'E1228', 'E1229', 'E1243', 'E1255', 'E1263', 'E1285', 'E1290', 'E1294', 'E1298', 'E1300', 'E1307', 'E5019', 'E5033', 'E5059', 'E5097', 'E5113', 'E5116', 'E5156'], got ['E1058', 'E1167', 'E1341', 'E1064', 'E1093', 'E1343', 'E1151', 'E1294', 'E1350', 'E1344', 'E1034', 'E1051', 'E1347', 'E1080', 'E5116', 'E5156', 'E1285', 'E1290', 'E10', 'E1160', 'E5059', 'E1342', 'E1351', 'E1053', 'E1057', 'E1144', 'E1159', 'E1243', 'E5019', 'E5113', 'E16', 'E1340', 'E1346', 'E1163', 'E1213', 'E1300', 'E5097', 'E08', 'E1112', 'E1169', 'E1186', 'E1348', 'E1228', 'E1229', 'E1255', 'E1263', 'E1298', 'E1307', 'E1345', 'E1349']

✅ D2 sql+markdown run 1 graded by code · query session

38 issuers had a downgrade action in 2026; the full list is in the JSON. It includes E08 and E10.

JSON: {"issuers": ["E1034", "E1167", "E1058", "E1053", "E1144", "E5019", "E1159", "E1057", "E1243", "E5113", "E08", "E1169", "E1186", "E1112", "E1080", "E5116", "E5156", "E1294", "E1151", "E1064", "E1093", "E1051", "E1290", "E1285", "E5097", "E1163", "E1213", "E1300", "E1307", "E1229", "E1298", "E1263", "E1255", "E5033", "E1228", "E10", "E5059", "E1160"]}

✅ D2 sql+markdown run 2 graded by code · query session

38 issuers had a downgrade action in 2026; the IDs are in the JSON. E5033's downgrade is dated 2026-11-06, which is after today's date, but I counted it.

JSON: {"issuers": ["E08", "E10", "E1034", "E1051", "E1053", "E1057", "E1058", "E1064", "E1080", "E1093", "E1112", "E1144", "E1151", "E1159", "E1160", "E1163", "E1167", "E1169", "E1186", "E1213", "E1228", "E1229", "E1243", "E1255", "E1263", "E1285", "E1290", "E1294", "E1298", "E1300", "E1307", "E5019", "E5033", "E5059", "E5097", "E5113", "E5116", "E5156"]}

✅ D2 sql+markdown run 3 graded by code · query session

38 issuers had an LTIDR downgrade (DG) dated in 2026, including E08 and E10; the full list is in the JSON. Withdrawals, Watches and affirmations were not counted.

JSON: {"issuers": ["E1294", "E1151", "E1034", "E1213", "E1300", "E1163", "E5097", "E5019", "E5113", "E1159", "E1057", "E1053", "E1144", "E1243", "E1229", "E1307", "E5033", "E1255", "E1263", "E1228", "E1298", "E1080", "E5116", "E1186", "E1112", "E1169", "E08", "E1285", "E1290", "E1064", "E1093", "E1051", "E1058", "E1167", "E5156", "E10", "E5059", "E1160"]}

❌ D2 sql+markdown run 4 graded by code · query session

See the list in the JSON. These are the entities with an LTIDR downgrade (DG) in 2026 up to today, 2026-11-05, with duplicate records merged by LEI. A5028 is dated 2026-11-06, after today, so E5033 is not counted.

JSON: {"issuers": ["E1058", "E1167", "E1285", "E1290", "E08", "E1112", "E1186", "E1169", "E5116", "E1080", "E5059", "E10", "E1160", "E1064", "E1093", "E1151", "E1294", "E5156", "E5019", "E5113", "E1053", "E1057", "E1144", "E1159", "E1243", "E1051", "E1228", "E1229", "E1255", "E1263", "E1307", "E1298", "E5097", "E1163", "E1300", "E1213", "E1034"]}

Why: issuers: expected ['E08', 'E10', 'E1034', 'E1051', 'E1053', 'E1057', 'E1058', 'E1064', 'E1080', 'E1093', 'E1112', 'E1144', 'E1151', 'E1159', 'E1160', 'E1163', 'E1167', 'E1169', 'E1186', 'E1213', 'E1228', 'E1229', 'E1243', 'E1255', 'E1263', 'E1285', 'E1290', 'E1294', 'E1298', 'E1300', 'E1307', 'E5019', 'E5033', 'E5059', 'E5097', 'E5113', 'E5116', 'E5156'], got ['E1058', 'E1167', 'E1285', 'E1290', 'E08', 'E1112', 'E1186', 'E1169', 'E5116', 'E1080', 'E5059', 'E10', 'E1160', 'E1064', 'E1093', 'E1151', 'E1294', 'E5156', 'E5019', 'E5113', 'E1053', 'E1057', 'E1144', 'E1159', 'E1243', 'E1051', 'E1228', 'E1229', 'E1255', 'E1263', 'E1307', 'E1298', 'E5097', 'E1163', 'E1300', 'E1213', 'E1034']

✅ D2 sql+markdown run 5 graded by code · query session

38 issuers had a long-term rating downgrade in 2026 (full list in the JSON). The query counted DG actions dated anywhere in 2026, including after today.

JSON: {"issuers": ["E1034", "E1051", "E1294", "E1151", "E1093", "E1064", "E1112", "E08", "E1169", "E1186", "E5019", "E5113", "E1053", "E1144", "E1243", "E1159", "E1057", "E5156", "E1285", "E1290", "E5116", "E1080", "E1058", "E1167", "E1213", "E1163", "E5097", "E1300", "E1229", "E1255", "E1263", "E1228", "E1298", "E1307", "E5033", "E10", "E5059", "E1160"]}

❌ D4 sparql run 1 graded by code · query session

E08, E10, E16 and the block E1121–E1324 had a downgrade on an issuer rating in 2026 (the IDs are listed in the JSON). I did not check whether any of the E11xx–E13xx block were later restored.

JSON: {"issuers": ["E08", "E10", "E16", "E1121", "E1122", "E1123", "E1124", "E1125", "E1126", "E1127", "E1128", "E1129", "E1130", "E1131", "E1132", "E1133", "E1134", "E1135", "E1136", "E1137", "E1138", "E1139", "E1140", "E1141", "E1142", "E1143", "E1144", "E1145", "E1146", "E1147", "E1148", "E1149", "E1150", "E1151", "E1152", "E1153", "E1154", "E1155", "E1156", "E1157", "E1158", "E1159", "E1160", "E1161", "E1162", "E1163", "E1164", "E1165", "E1166", "E1167", "E1168", "E1169", "E1170", "E1171", "E1172", "E1173", "E1174", "E1175", "E1176", "E1177", "E1178", "E1179", "E1180", "E1181", "E1182", "E1183", "E1184", "E1185", "E1186", "E1187", "E1188", "E1189", "E1190", "E1191", "E1192", "E1193", "E1194", "E1195", "E1196", "E1197", "E1198", "E1199", "E1200", "E1201", "E1202", "E1203", "E1204", "E1205", "E1206", "E1207", "E1208", "E1209", "E1210", "E1211", "E1212", "E1213", "E1214", "E1215", "E1216", "E1217", "E1218", "E1219", "E1220", "E1221", "E1222", "E1223", "E1224", "E1225", "E1226", "E1227", "E1228", "E1229", "E1230", "E1231", "E1232", "E1233", "E1234", "E1235", "E1236", "E1237", "E1238", "E1239", "E1240", "E1241", "E1242", "E1243", "E1244", "E1245", "E1246", "E1247", "E1248", "E1249", "E1250", "E1251", "E1252", "E1253", "E1254", "E1255", "E1256", "E1257", "E1258", "E1259", "E1260", "E1261", "E1262", "E1263", "E1264", "E1265", "E1266", "E1267", "E1268", "E1269", "E1270", "E1271", "E1272", "E1273", "E1274", "E1275", "E1276", "E1277", "E1278", "E1279", "E1280", "E1281", "E1282", "E1283", "E1284", "E1285", "E1286", "E1287", "E1288", "E1289", "E1290", "E1291", "E1292", "E1293", "E1294", "E1295", "E1296", "E1297", "E1298", "E1299", "E1300", "E1301", "E1302", "E1303", "E1304", "E1305", "E1306", "E1307", "E1308", "E1309", "E1310", "E1311", "E1312", "E1313", "E1314", "E1315", "E1316", "E1317", "E1318", "E1319", "E1320", "E1321", "E1322", "E1323", "E1324"]}

Why: issuers: expected ['E08', 'E10', 'E1034', 'E1051', 'E1053', 'E1057', 'E1058', 'E1064', 'E1080', 'E1093', 'E1112', 'E1144', 'E1151', 'E1159', 'E1160', 'E1163', 'E1167', 'E1169', 'E1186', 'E1213', 'E1228', 'E1229', 'E1243', 'E1255', 'E1263', 'E1285', 'E1290', 'E1294', 'E1298', 'E1300', 'E1307', 'E5019', 'E5033', 'E5059', 'E5097', 'E5113', 'E5116', 'E5156'], got ['E08', 'E10', 'E16', 'E1121', 'E1122', 'E1123', 'E1124', 'E1125', 'E1126', 'E1127', 'E1128', 'E1129', 'E1130', 'E1131', 'E1132', 'E1133', 'E1134', 'E1135', 'E1136', 'E1137', 'E1138', 'E1139', 'E1140', 'E1141', 'E1142', 'E1143', 'E1144', 'E1145', 'E1146', 'E1147', 'E1148', 'E1149', 'E1150', 'E1151', 'E1152', 'E1153', 'E1154', 'E1155', 'E1156', 'E1157', 'E1158', 'E1159', 'E1160', 'E1161', 'E1162', 'E1163', 'E1164', 'E1165', 'E1166', 'E1167', 'E1168', 'E1169', 'E1170', 'E1171', 'E1172', 'E1173', 'E1174', 'E1175', 'E1176', 'E1177', 'E1178', 'E1179', 'E1180', 'E1181', 'E1182', 'E1183', 'E1184', 'E1185', 'E1186', 'E1187', 'E1188', 'E1189', 'E1190', 'E1191', 'E1192', 'E1193', 'E1194', 'E1195', 'E1196', 'E1197', 'E1198', 'E1199', 'E1200', 'E1201', 'E1202', 'E1203', 'E1204', 'E1205', 'E1206', 'E1207', 'E1208', 'E1209', 'E1210', 'E1211', 'E1212', 'E1213', 'E1214', 'E1215', 'E1216', 'E1217', 'E1218', 'E1219', 'E1220', 'E1221', 'E1222', 'E1223', 'E1224', 'E1225', 'E1226', 'E1227', 'E1228', 'E1229', 'E1230', 'E1231', 'E1232', 'E1233', 'E1234', 'E1235', 'E1236', 'E1237', 'E1238', 'E1239', 'E1240', 'E1241', 'E1242', 'E1243', 'E1244', 'E1245', 'E1246', 'E1247', 'E1248', 'E1249', 'E1250', 'E1251', 'E1252', 'E1253', 'E1254', 'E1255', 'E1256', 'E1257', 'E1258', 'E1259', 'E1260', 'E1261', 'E1262', 'E1263', 'E1264', 'E1265', 'E1266', 'E1267', 'E1268', 'E1269', 'E1270', 'E1271', 'E1272', 'E1273', 'E1274', 'E1275', 'E1276', 'E1277', 'E1278', 'E1279', 'E1280', 'E1281', 'E1282', 'E1283', 'E1284', 'E1285', 'E1286', 'E1287', 'E1288', 'E1289', 'E1290', 'E1291', 'E1292', 'E1293', 'E1294', 'E1295', 'E1296', 'E1297', 'E1298', 'E1299', 'E1300', 'E1301', 'E1302', 'E1303', 'E1304', 'E1305', 'E1306', 'E1307', 'E1308', 'E1309', 'E1310', 'E1311', 'E1312', 'E1313', 'E1314', 'E1315', 'E1316', 'E1317', 'E1318', 'E1319', 'E1320', 'E1321', 'E1322', 'E1323', 'E1324']

❌ D4 sparql run 2 graded by code · query session

51 entities had a downgrade in 2026 (all listed in the JSON). They include E08, E10 and E16; E01, E06 and E14 do not.

JSON: {"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", "E1341", "E1342", "E1343", "E1344", "E1345", "E1346", "E1347", "E1348", "E1349", "E1350", "E1351", "E08", "E10", "E16", "E5019", "E5033", "E5059", "E5097", "E5113", "E5116", "E5156"]}

Why: issuers: expected ['E08', 'E10', 'E1034', 'E1051', 'E1053', 'E1057', 'E1058', 'E1064', 'E1080', 'E1093', 'E1112', 'E1144', 'E1151', 'E1159', 'E1160', 'E1163', 'E1167', 'E1169', 'E1186', 'E1213', 'E1228', 'E1229', 'E1243', 'E1255', 'E1263', 'E1285', 'E1290', 'E1294', 'E1298', 'E1300', 'E1307', 'E5019', 'E5033', 'E5059', 'E5097', 'E5113', 'E5116', 'E5156'], got ['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', 'E1341', 'E1342', 'E1343', 'E1344', 'E1345', 'E1346', 'E1347', 'E1348', 'E1349', 'E1350', 'E1351', 'E08', 'E10', 'E16', 'E5019', 'E5033', 'E5059', 'E5097', 'E5113', 'E5116', 'E5156']

❌ D4 sparql run 3 graded by code · query session

E02 (A08) and E10 (A27) so far. I did not scan the E1xxx and E5xxx entities.

JSON: {"issuers": ["E02", "E10"]}

Why: issuers: expected ['E08', 'E10', 'E1034', 'E1051', 'E1053', 'E1057', 'E1058', 'E1064', 'E1080', 'E1093', 'E1112', 'E1144', 'E1151', 'E1159', 'E1160', 'E1163', 'E1167', 'E1169', 'E1186', 'E1213', 'E1228', 'E1229', 'E1243', 'E1255', 'E1263', 'E1285', 'E1290', 'E1294', 'E1298', 'E1300', 'E1307', 'E5019', 'E5033', 'E5059', 'E5097', 'E5113', 'E5116', 'E5156'], got ['E02', 'E10']

❌ D4 sparql run 4 graded by code · query session

I could not retrieve the full list. The 2026 downgrades visible to me include E08, E10, E16 and many E1xxx entities (listed in the JSON). 18 result rows were cut off, so the list is incomplete.

JSON: {"issuers": ["E08", "E10", "E16", "E1034", "E1051", "E1053", "E1057", "E1058", "E1093", "E1112", "E1144", "E1151", "E1159", "E1161", "E1163", "E1167", "E1170", "E1186", "E1213", "E1228", "E1229", "E1243", "E1255", "E1263", "E1285", "E1290", "E1294", "E1299", "E1300"]}

Why: issuers: expected ['E08', 'E10', 'E1034', 'E1051', 'E1053', 'E1057', 'E1058', 'E1064', 'E1080', 'E1093', 'E1112', 'E1144', 'E1151', 'E1159', 'E1160', 'E1163', 'E1167', 'E1169', 'E1186', 'E1213', 'E1228', 'E1229', 'E1243', 'E1255', 'E1263', 'E1285', 'E1290', 'E1294', 'E1298', 'E1300', 'E1307', 'E5019', 'E5033', 'E5059', 'E5097', 'E5113', 'E5116', 'E5156'], got ['E08', 'E10', 'E16', 'E1034', 'E1051', 'E1053', 'E1057', 'E1058', 'E1093', 'E1112', 'E1144', 'E1151', 'E1159', 'E1161', 'E1163', 'E1167', 'E1170', 'E1186', 'E1213', 'E1228', 'E1229', 'E1243', 'E1255', 'E1263', 'E1285', 'E1290', 'E1294', 'E1299', 'E1300']

❌ D4 sparql run 5 graded by code · query session

The issuers with a downgrade action in 2026 are listed in the JSON below.

JSON: {"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", "E1341", "E1342", "E1343", "E1344", "E1345", "E1346", "E1347", "E1348", "E1349", "E1350", "E1351", "E08", "E10", "E16", "E5019", "E5033", "E5059", "E5097", "E5113", "E5116", "E5156"]}

Why: issuers: expected ['E08', 'E10', 'E1034', 'E1051', 'E1053', 'E1057', 'E1058', 'E1064', 'E1080', 'E1093', 'E1112', 'E1144', 'E1151', 'E1159', 'E1160', 'E1163', 'E1167', 'E1169', 'E1186', 'E1213', 'E1228', 'E1229', 'E1243', 'E1255', 'E1263', 'E1285', 'E1290', 'E1294', 'E1298', 'E1300', 'E1307', 'E5019', 'E5033', 'E5059', 'E5097', 'E5113', 'E5116', 'E5156'], got ['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', 'E1341', 'E1342', 'E1343', 'E1344', 'E1345', 'E1346', 'E1347', 'E1348', 'E1349', 'E1350', 'E1351', 'E08', 'E10', 'E16', 'E5019', 'E5033', 'E5059', 'E5097', 'E5113', 'E5116', 'E5156']

❌ D5 sparql+ontology run 1 graded by code · query session

Incomplete. E08 (CCC, then RD) and E10 (2026-04-15) were downgraded in 2026. E16 is a QA record and is ignored. Other entities were not retrieved.

JSON: {"issuers": ["E08", "E10"]}

Why: issuers: expected ['E08', 'E10', 'E1034', 'E1051', 'E1053', 'E1057', 'E1058', 'E1064', 'E1080', 'E1093', 'E1112', 'E1144', 'E1151', 'E1159', 'E1160', 'E1163', 'E1167', 'E1169', 'E1186', 'E1213', 'E1228', 'E1229', 'E1243', 'E1255', 'E1263', 'E1285', 'E1290', 'E1294', 'E1298', 'E1300', 'E1307', 'E5019', 'E5033', 'E5059', 'E5097', 'E5113', 'E5116', 'E5156'], got ['E08', 'E10']

❌ D5 sparql+ontology run 2 graded by code · query session

37 issuers had a Downgraded action in 2026; they are listed in the JSON. I excluded E5033, whose only downgrade is dated 2026-11-06, after today's date.

JSON: {"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", "E5019", "E5059", "E5097", "E5113", "E5116", "E5156"]}

Why: issuers: expected ['E08', 'E10', 'E1034', 'E1051', 'E1053', 'E1057', 'E1058', 'E1064', 'E1080', 'E1093', 'E1112', 'E1144', 'E1151', 'E1159', 'E1160', 'E1163', 'E1167', 'E1169', 'E1186', 'E1213', 'E1228', 'E1229', 'E1243', 'E1255', 'E1263', 'E1285', 'E1290', 'E1294', 'E1298', 'E1300', 'E1307', 'E5019', 'E5033', 'E5059', 'E5097', 'E5113', 'E5116', 'E5156'], got ['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', 'E5019', 'E5059', 'E5097', 'E5113', 'E5116', 'E5156']

❌ D5 sparql+ontology run 3 graded by code · query session

27 issuers were downgraded in 2026: E08, E10, E1051, E1053, E1057, E1058, E1064, E1080, E1093, E112, E1112, E1144, E1151, E1034, E1158, E1160, E1172, E1189, E1203, E1215, E1230, E1241, E1255, E1267, E1288, E1301 and E1312. The query returned "E112", which may be a typo for another ID; I report it as returned. QA record E16 is excluded.

JSON: {"issuers": ["E08", "E10", "E1051", "E1053", "E1057", "E1058", "E1064", "E1080", "E1093", "E112", "E1112", "E1144", "E1151", "E1034", "E1158", "E1160", "E1172", "E1189", "E1203", "E1215", "E1230", "E1241", "E1255", "E1267", "E1288", "E1301", "E1312"]}

Why: issuers: expected ['E08', 'E10', 'E1034', 'E1051', 'E1053', 'E1057', 'E1058', 'E1064', 'E1080', 'E1093', 'E1112', 'E1144', 'E1151', 'E1159', 'E1160', 'E1163', 'E1167', 'E1169', 'E1186', 'E1213', 'E1228', 'E1229', 'E1243', 'E1255', 'E1263', 'E1285', 'E1290', 'E1294', 'E1298', 'E1300', 'E1307', 'E5019', 'E5033', 'E5059', 'E5097', 'E5113', 'E5116', 'E5156'], got ['E08', 'E10', 'E1051', 'E1053', 'E1057', 'E1058', 'E1064', 'E1080', 'E1093', 'E112', 'E1112', 'E1144', 'E1151', 'E1034', 'E1158', 'E1160', 'E1172', 'E1189', 'E1203', 'E1215', 'E1230', 'E1241', 'E1255', 'E1267', 'E1288', 'E1301', 'E1312']

✅ D5 sparql+ontology run 4 graded by code · query session

38 issuers; the list is in the JSON. Each is a downgrade (DG) of a long-term issuer rating (LTIDR) in 2026, and the QA record E16 is excluded.

JSON: {"issuers": ["E1034", "E1051", "E1053", "E1057", "E1058", "E1064", "E1080", "E1093", "E1112", "E1144", "E1151", "E1159", "E1160", "E1163", "E1167", "E1169", "E1186", "E1213", "E1228", "E1229", "E1243", "E1255", "E1263", "E1285", "E1290", "E1294", "E1298", "E1300", "E1307", "E08", "E10", "E5019", "E5033", "E5059", "E5097", "E5113", "E5116", "E5156"]}

❌ D5 sparql+ontology run 5 graded by code · query session

Incomplete: the output was truncated, so this is only the visible part. It lists entities with a long-term downgrade in 2026, starting with E08 (A21, A22) and E10 (A27).

JSON: {"issuers": ["E08", "E10", "E1034", "E1051", "E1053", "E1057", "E1058", "E1064", "E1080", "E1093", "E1112", "E1144", "E1151", "E1159", "E1161", "E1163", "E1167", "E1170", "E1186", "E1213", "E1228", "E1229", "E1243"]}

Why: issuers: expected ['E08', 'E10', 'E1034', 'E1051', 'E1053', 'E1057', 'E1058', 'E1064', 'E1080', 'E1093', 'E1112', 'E1144', 'E1151', 'E1159', 'E1160', 'E1163', 'E1167', 'E1169', 'E1186', 'E1213', 'E1228', 'E1229', 'E1243', 'E1255', 'E1263', 'E1285', 'E1290', 'E1294', 'E1298', 'E1300', 'E1307', 'E5019', 'E5033', 'E5059', 'E5097', 'E5113', 'E5116', 'E5156'], got ['E08', 'E10', 'E1034', 'E1051', 'E1053', 'E1057', 'E1058', 'E1064', 'E1080', 'E1093', 'E1112', 'E1144', 'E1151', 'E1159', 'E1161', 'E1163', 'E1167', 'E1170', 'E1186', 'E1213', 'E1228', 'E1229', 'E1243']

❌ D3 sql+executed run 1 graded by code · query session

37 issuers had a downgrade action in 2026 (listed in the JSON).

JSON: {"issuers": ["E1285", "E1290", "E1034", "E5156", "E1228", "E1229", "E1255", "E1263", "E1298", "E1307", "E1058", "E1167", "E1064", "E1093", "E10", "E1160", "E5059", "E1080", "E5116", "E1151", "E1294", "E08", "E1112", "E1169", "E1186", "E1163", "E1213", "E1300", "E5097", "E1053", "E1057", "E1144", "E1159", "E1243", "E5019", "E5113", "E1051"]}

Why: issuers: expected ['E08', 'E10', 'E1034', 'E1051', 'E1053', 'E1057', 'E1058', 'E1064', 'E1080', 'E1093', 'E1112', 'E1144', 'E1151', 'E1159', 'E1160', 'E1163', 'E1167', 'E1169', 'E1186', 'E1213', 'E1228', 'E1229', 'E1243', 'E1255', 'E1263', 'E1285', 'E1290', 'E1294', 'E1298', 'E1300', 'E1307', 'E5019', 'E5033', 'E5059', 'E5097', 'E5113', 'E5116', 'E5156'], got ['E1285', 'E1290', 'E1034', 'E5156', 'E1228', 'E1229', 'E1255', 'E1263', 'E1298', 'E1307', 'E1058', 'E1167', 'E1064', 'E1093', 'E10', 'E1160', 'E5059', 'E1080', 'E5116', 'E1151', 'E1294', 'E08', 'E1112', 'E1169', 'E1186', 'E1163', 'E1213', 'E1300', 'E5097', 'E1053', 'E1057', 'E1144', 'E1159', 'E1243', 'E5019', 'E5113', 'E1051']

❌ D3 sql+executed run 2 graded by code · query session

Thirty-six issuers had a foreign-currency issuer-rating downgrade in 2026 (listed in the JSON). They include E08 and E10.

JSON: {"issuers": ["E1034", "E1080", "E1064", "E1093", "E1167", "E1058", "E08", "E1186", "E1169", "E1112", "E1290", "E1285", "E5156", "E1255", "E1263", "E1228", "E1229", "E1298", "E1307", "E1151", "E1294", "E1051", "E1160", "E10", "E5059", "E1144", "E1159", "E1057", "E1053", "E5113", "E1243", "E5019", "E1163", "E5097", "E1213", "E1300"]}

Why: issuers: expected ['E08', 'E10', 'E1034', 'E1051', 'E1053', 'E1057', 'E1058', 'E1064', 'E1080', 'E1093', 'E1112', 'E1144', 'E1151', 'E1159', 'E1160', 'E1163', 'E1167', 'E1169', 'E1186', 'E1213', 'E1228', 'E1229', 'E1243', 'E1255', 'E1263', 'E1285', 'E1290', 'E1294', 'E1298', 'E1300', 'E1307', 'E5019', 'E5033', 'E5059', 'E5097', 'E5113', 'E5116', 'E5156'], got ['E1034', 'E1080', 'E1064', 'E1093', 'E1167', 'E1058', 'E08', 'E1186', 'E1169', 'E1112', 'E1290', 'E1285', 'E5156', 'E1255', 'E1263', 'E1228', 'E1229', 'E1298', 'E1307', 'E1151', 'E1294', 'E1051', 'E1160', 'E10', 'E5059', 'E1144', 'E1159', 'E1057', 'E1053', 'E5113', 'E1243', 'E5019', 'E1163', 'E5097', 'E1213', 'E1300']

❌ D3 sql+executed run 3 graded by code · query session

37 issuers had a downgrade (DG) action from 2026-01-01 to 2026-10-01. The 2026-11-06 downgrade of E5033 falls after the cut-off and is excluded. The list is in the JSON.

JSON: {"issuers": ["E08", "E10", "E1034", "E1051", "E1053", "E1057", "E1058", "E1064", "E1080", "E1093", "E1112", "E1144", "E1151", "E1159", "E1160", "E1163", "E1167", "E1169", "E1186", "E1213", "E1228", "E1229", "E1243", "E1255", "E1263", "E1285", "E1290", "E1294", "E1298", "E1300", "E1307", "E5019", "E5059", "E5097", "E5113", "E5116", "E5156"]}

Why: issuers: expected ['E08', 'E10', 'E1034', 'E1051', 'E1053', 'E1057', 'E1058', 'E1064', 'E1080', 'E1093', 'E1112', 'E1144', 'E1151', 'E1159', 'E1160', 'E1163', 'E1167', 'E1169', 'E1186', 'E1213', 'E1228', 'E1229', 'E1243', 'E1255', 'E1263', 'E1285', 'E1290', 'E1294', 'E1298', 'E1300', 'E1307', 'E5019', 'E5033', 'E5059', 'E5097', 'E5113', 'E5116', 'E5156'], got ['E08', 'E10', 'E1034', 'E1051', 'E1053', 'E1057', 'E1058', 'E1064', 'E1080', 'E1093', 'E1112', 'E1144', 'E1151', 'E1159', 'E1160', 'E1163', 'E1167', 'E1169', 'E1186', 'E1213', 'E1228', 'E1229', 'E1243', 'E1255', 'E1263', 'E1285', 'E1290', 'E1294', 'E1298', 'E1300', 'E1307', 'E5019', 'E5059', 'E5097', 'E5113', 'E5116', 'E5156']

✅ D3 sql+executed run 4 graded by code · query session

Downgraded in 2026 (DG actions on LTIDR; includes E08, E10 and the other entities in the JSON): 38 entities, listed in the JSON.

JSON: {"issuers": ["E1285", "E1290", "E1298", "E1229", "E1307", "E1228", "E1263", "E1255", "E5033", "E1051", "E1294", "E1151", "E1243", "E1159", "E1057", "E1053", "E5019", "E5113", "E1144", "E1034", "E1064", "E1093", "E1300", "E1163", "E1213", "E5097", "E1080", "E5116", "E5156", "E1112", "E1186", "E08", "E1169", "E1167", "E1058", "E1160", "E10", "E5059"]}

✅ D3 sql+executed run 5 graded by code · query session

38 issuers had a downgrade action in 2026; the full list is in the JSON. Some rows are labelled DG without a visible rating change (e.g. E1051), which I could not verify.

JSON: {"issuers": ["E1053", "E1057", "E1144", "E1159", "E1243", "E5019", "E5113", "E1064", "E1093", "E1058", "E1167", "E1034", "E1228", "E1229", "E1255", "E1263", "E1298", "E1307", "E5033", "E1080", "E5116", "E10", "E1160", "E5059", "E1285", "E1290", "E1163", "E1213", "E1300", "E5097", "E1151", "E1294", "E1051", "E08", "E1112", "E1169", "E1186", "E5156"]}

❌ D6 sparql+axioms run 1 graded by code · query session

47 entities had an LTIDR downgraded in 2026 (listed in the JSON). I excluded two with actions dated after today (E1341 and E5033) and three where the rating did not change (E1064, E1051's second action, E5116).

JSON: {"issuers": ["E1034", "E1051", "E1053", "E1057", "E1058", "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", "E5019", "E5059", "E5097", "E5113", "E5156"]}

Why: issuers: expected ['E08', 'E10', 'E1034', 'E1051', 'E1053', 'E1057', 'E1058', 'E1064', 'E1080', 'E1093', 'E1112', 'E1144', 'E1151', 'E1159', 'E1160', 'E1163', 'E1167', 'E1169', 'E1186', 'E1213', 'E1228', 'E1229', 'E1243', 'E1255', 'E1263', 'E1285', 'E1290', 'E1294', 'E1298', 'E1300', 'E1307', 'E5019', 'E5033', 'E5059', 'E5097', 'E5113', 'E5116', 'E5156'], got ['E1034', 'E1051', 'E1053', 'E1057', 'E1058', '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', 'E5019', 'E5059', 'E5097', 'E5113', 'E5156']

❌ D6 sparql+axioms run 2 graded by code · query session

49 entities had a downgrade action dated in 2026 up to today (list in the JSON). I excluded two dated after today (E1341 on 2026-11-09 and E5033 on 2026-11-06). Some rows may be currency-basis differences rather than true downgrades, so treat this list as approximate.

JSON: {"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", "E5019", "E5059", "E5097", "E5113", "E5116", "E5156"]}

Why: issuers: expected ['E08', 'E10', 'E1034', 'E1051', 'E1053', 'E1057', 'E1058', 'E1064', 'E1080', 'E1093', 'E1112', 'E1144', 'E1151', 'E1159', 'E1160', 'E1163', 'E1167', 'E1169', 'E1186', 'E1213', 'E1228', 'E1229', 'E1243', 'E1255', 'E1263', 'E1285', 'E1290', 'E1294', 'E1298', 'E1300', 'E1307', 'E5019', 'E5033', 'E5059', 'E5097', 'E5113', 'E5116', 'E5156'], got ['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', 'E5019', 'E5059', 'E5097', 'E5113', 'E5116', 'E5156']

✅ D6 sparql+axioms run 3 graded by code · query session

Entities with a long-term issuer-rating downgrade dated in 2026, QA records excluded, are listed in the JSON. One of them, E5033, has a downgrade dated 2026-11-06, which is after today's date.

JSON: {"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", "E5019", "E5033", "E5059", "E5097", "E5113", "E5116", "E5156"]}

❌ D6 sparql+axioms run 4 graded by code · query session

E08, E10 and E16 (A21/A22, A27, A44). I only checked records E01–E16, so other issuers may be missing.

JSON: {"issuers": ["E08", "E10", "E16"]}

Why: issuers: expected ['E08', 'E10', 'E1034', 'E1051', 'E1053', 'E1057', 'E1058', 'E1064', 'E1080', 'E1093', 'E1112', 'E1144', 'E1151', 'E1159', 'E1160', 'E1163', 'E1167', 'E1169', 'E1186', 'E1213', 'E1228', 'E1229', 'E1243', 'E1255', 'E1263', 'E1285', 'E1290', 'E1294', 'E1298', 'E1300', 'E1307', 'E5019', 'E5033', 'E5059', 'E5097', 'E5113', 'E5116', 'E5156'], got ['E08', 'E10', 'E16']

❌ D6 sparql+axioms run 5 graded by code · query session

E08, E10 and E16 (A21/A22, A27, A44). The E1xxx/E5xxx records could not be checked, so this list may be incomplete.

JSON: {"issuers": ["E08", "E10", "E16"]}

Why: issuers: expected ['E08', 'E10', 'E1034', 'E1051', 'E1053', 'E1057', 'E1058', 'E1064', 'E1080', 'E1093', 'E1112', 'E1144', 'E1151', 'E1159', 'E1160', 'E1163', 'E1167', 'E1169', 'E1186', 'E1213', 'E1228', 'E1229', 'E1243', 'E1255', 'E1263', 'E1285', 'E1290', 'E1294', 'E1298', 'E1300', 'E1307', 'E5019', 'E5033', 'E5059', 'E5097', 'E5113', 'E5116', 'E5156'], got ['E08', 'E10', 'E16']