D6 sparql+axioms, run 5: the query session

← back to the run

33 queries2 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:ancestor`, `lad:country`, `lad:domicile`, `lad:entityType`, `lad:lei`, `lad:name`, `lad:parent`, `lad:parentEntity`, `lad:sameEntityAs`, `lad:sourceSystem`, `lad:ultimateParent`
- `lad:Instrument`: `rdf:type`, `rdfs:label`, `lad:creditRiskOf`, `lad:currency`, `lad:description`, `lad:guarantor`, `lad:issuer`, `lad:localCurrency`, `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:validTo`, `lad:watch`
- `lad:RatingInForce`: `rdf:type`, `rdfs:label`, `lad:action`, `lad:ccyBasis`, `lad:comment`, `lad:date`, `lad:outlook`, `lad:ratedThing`, `lad:rating`, `lad:ratingType`, `lad:watch`

The store holds the data after the rules of its axioms have run, with no definitions alongside. Besides the data's own properties, it holds what the rules derived: lad:sameEntityAs links the records of one entity; lad:domicile is the country that holds for an entity; lad:parentEntity, lad:ancestor and lad:ultimateParent give ownership entity by entity (an entity with no parent is its own ultimate parent); lad:validTo is when a rating stopped holding, and the class lad:RatingInForce holds the actions whose rating was in force on 1 October 2026; lad:creditRiskOf and lad:localCurrency describe instruments.

## 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)
- Q49: parent (a record ID)
- Q50: count (a number)
- Q51: count (a number)
- Q52: count (a number)
- Q53: same_group ("yes", "no" or "depends")
- Q54: entities (a list of record IDs)
- Q55: count (a number)
- Q56: rating (a rating, or "none")
- Q57: entity (a record ID)
- Q58: entities (a list of record IDs)
- Q59: count (a number)
- Q60: risk_of (a record ID), same_group ("yes", "no" or "depends")
- Q61: 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?
Q49. Who is Cerid Rosor Holdings SA's ultimate parent?
Q50. How many levels of ownership separate Cerid Rosor Holdings SA from its ultimate parent?
Q51. How many entities are in the Cerid Group plc group, the parent included?
Q52. How many entities are in the Rotam Group Inc group, the parent included?
Q53. Are Belir Mining SA and Rotam Group Inc in the same group?
Q54. Which members of the Wonod Group SA group are domiciled in Valdoria (VD)?
Q55. If Valdoria (VD) came under stress, how many entities with an issuer rating in force have an entity domiciled in VD somewhere above them in their chain of parents?
Q56. What is the lowest current foreign-currency issuer rating held by any member of the Vesol Group BV group?
Q57. Which is the nearest entity that Cerid Guven Energy SA and Cerid Telecom SA both have in their chains of parents?
Q58. Which entities guarantee a note issued by an entity outside their own group?
Q59. How many entities in the Cerid Group plc group sit exactly three levels below the top?
Q60. Whose credit risk does a holder of the Cross-group 4.75% notes due 2031 take, and is that entity in the same group as the issuer?
Q61. How many members of the Cerid Group plc group, the top included, hold a foreign-currency issuer rating below investment grade?
The model 
I'll start by exploring the data's structure.

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

```sparql
SELECT ?c (COUNT(*) AS ?n) WHERE { ?s a ?c } GROUP BY ?c
```

```sparql
SELECT ?e ?l WHERE { ?e a lad:Entity . OPTIONAL { ?e rdfs:label ?l } } ORDER BY ?e
```
Query results 
Query 1 failed: MALFORMED QUERY: QName 'lad:E01' uses an undefined prefix

Query 2:

| c | n |
|---|---|
| owl:DatatypeProperty | 14 |
| lad:Instrument | 122 |
| owl:ObjectProperty | 16 |
| owl:FunctionalProperty | 14 |
| lad:RatingAction | 914 |
| lad:Entity | 540 |
| lad:RatingInForce | 510 |
| skos:Concept | 24 |
| owl:Class | 7 |
| skos:ConceptScheme | 7 |
| owl:Ontology | 2 |
| owl:TransitiveProperty | 2 |
| owl:SymmetricProperty | 1 |
| sh:NodeShape | 5 |
| owl:Restriction | 14 |
| sh:SPARQLRule | 8 |

Query 3 failed: MALFORMED QUERY: QName 'lad:Entity' uses an undefined prefix

Run more queries, or give the final answers.
The model 
<invoke_placeholder>
</invoke_placeholder>

I'll include the prefixes in each query this time.

```sparql
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/>
SELECT ?e ?l WHERE { ?e a lad:Entity . OPTIONAL { ?e rdfs:label ?l } } ORDER BY ?e LIMIT 60
```

```sparql
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 lad: <https://example.org/ladder/>
SELECT ?s ?p ?o WHERE { ?s ?p ?o . FILTER(?s IN (lad:E01)) } LIMIT 100
```

```sparql
PREFIX skos: <http://www.w3.org/2004/02/skos/core#>
PREFIX rdfs: <http://www.w3.org/2000/01/rdf-schema#>
PREFIX lad: <https://example.org/ladder/>
SELECT ?c ?l ?d WHERE { ?c a skos:Concept . OPTIONAL { ?c skos:prefLabel ?l } OPTIONAL { ?c skos:definition ?d } }
```
Query results 
Query 1:

| e | l |
|---|---|
| lad:CV | Republic of Corvenia |
| lad:E01 | Kestrel Energy plc |
| lad:E02 | Northwind Holdings plc |
| lad:E03 | NORTHWIND HLDGS |
| lad:E04 | Northwind Finance BV |
| lad:E05 | Valdoria Telecom SA |
| lad:E06 | Orrin Bank AG |
| lad:E07 | Pellam Retail Ltd |
| lad:E08 | Saxby Shipping SA |
| lad:E09 | Halden Group plc |
| lad:E10 | Halden Bank AG |
| lad:E1001 | Tunod Steel SA |
| lad:E1002 | TUNOD STEEL SA |
| lad:E1003 | Rilol Telecom plc |
| lad:E1004 | Munem Retail SA |
| lad:E1005 | Setan Airlines Inc |
| lad:E1006 | Soson Airlines Inc |
| lad:E1007 | Golod Property plc |
| lad:E1008 | Sotil Retail plc |
| lad:E1009 | Malam Chemicals Inc |
| lad:E1010 | Buvir Industries Inc |
| lad:E1011 | Falom Media Inc |
| lad:E1012 | Posad Industries SA |
| lad:E1013 | Pisol Pharma BV |
| lad:E1014 | Toral Utilities BV |
| lad:E1015 | Civen Steel Inc |
| lad:E1016 | Ponar Telecom SA |
| lad:E1017 | Nisid Steel SA |
| lad:E1018 | Tosem Mining Inc |
| lad:E1019 | Losol Mining SA |
| lad:E1020 | Finel Media AG |
| lad:E1021 | Niner Pharma plc |
| lad:E1022 | NINER PHARMA |
| lad:E1023 | Heled Water plc |
| lad:E1024 | Susin Shipping BV |
| lad:E1025 | Tulol Shipping SA |
| lad:E1026 | Vunam Water BV |
| lad:E1027 | Tesad Media Inc |
| lad:E1028 | Mutir Retail SA |
| lad:E1029 | Leson Telecom Inc |
| lad:E1030 | LESON TELECOM INC |
| lad:E1031 | Kuvir Logistics SA |
| lad:E1032 | Helom Chemicals BV |
| lad:E1033 | Kunid Pharma SA |
| lad:E1034 | Tanad Capital SpA |
| lad:E1035 | Kavod Utilities AG |
| lad:E1036 | Lilor Retail AG |
| lad:E1037 | Natil Retail SA |
| lad:E1038 | Lanon Telecom BV |
| lad:E1039 | Pulor Airlines SA |
| lad:E1040 | Dorid Mining AG |
| lad:E1041 | Hiral Steel SA |
| lad:E1042 | Rerod Steel BV |
| lad:E1043 | Vitom Property plc |
| lad:E1044 | Hesid Telecom Inc |
| lad:E1045 | Nesid Logistics Inc |
| lad:E1046 | Ditin Shipping Inc |
| lad:E1047 | Vaved Pharma plc |
| lad:E1048 | Lised Pharma AG |
| lad:E1049 | Paser Utilities plc |

Query 2:

| s | p | o |
|---|---|---|
| lad:E01 | rdf:type | lad:Entity |
| lad:E01 | rdfs:label | Kestrel Energy plc |
| lad:E01 | lad:entityType | lad:etype-CORP |
| lad:E01 | lad:country | GB |
| lad:E01 | lad:lei | 7245002OOPBG04092E43 |
| lad:E01 | lad:sourceSystem | RATINGS |
| lad:E01 | lad:name | Kestrel Energy plc |
| lad:E01 | lad:ultimateParent | lad:E01 |
| lad:E01 | lad:domicile | GB |

Query 3:

| c | l | d |
|---|---|---|
| lad:basis-FC | Foreign currency | Covers obligations in foreign currency, so it is subject to the Country Ceiling. |
| lad:action-AS | Assigned | A first rating is given. |
| lad:outlook-POS | Positive | The rating may go up over one to two years. |
| lad:etype-CORP | Corporate | A non-financial company. |
| lad:seniority-SUB | Subordinated | Repaid only after senior debt, so investors recover less in a default; usually rated one or more notches below the issuer's long-term rating. |
| lad:type-LTIDR | Long-term Issuer Default Rating | The issuer's own creditworthiness: how likely it is to default on its obligations, on the long-term scale. This is what people usually mean by an entity's rating. The foreign-currency (FC) one is the headline rating; there may also be a local-currency (LC) one. |
| lad:action-EX | Expected rating | A rating signalled before an instrument's final documents are signed. It is not yet a rating: the instrument stays unrated until an Assigned (AS) action confirms it. |
| lad:outlook-STA | Stable | No direction expected. |
| lad:type-INST | Instrument rating | The rating of one specific instrument. It starts from the issuer's long-term rating and is notched for the instrument's seniority and expected recovery: subordinated debt is usually rated below the issuer, and guaranteed debt is rated on the guarantor. An instrument rating is never the rating of the issuer. |
| lad:action-AF | Affirmed | The rating is reviewed and kept the same. The outlook may be revised in the same action; that does not make it an upgrade or a downgrade. |
| lad:type-CO | Credit opinion | A private, point-in-time view of an entity's credit, given to one client. It is not a published rating and not an issuer rating: never count it as a rating, and never report its value as the entity's rating. |
| lad:action-RW | Placed on Rating Watch | The rating is flagged as likely to change soon, usually within about six months, in the direction lad:watch gives. The rating itself is unchanged: not a downgrade. |
| lad:action-WD | Withdrawn | The agency stops maintaining the rating, often for commercial reasons (the issuer no longer pays for it, or the debt is repaid). After a withdrawal the entity has no rating of that type. A withdrawal is not a credit event: it says nothing about default, and is not a downgrade. |
| lad:outlook-NEG | Negative | The rating may go down over one to two years. Not a downgrade. |
| lad:action-DG | Downgraded | The rating is lowered. The only action that counts as a downgrade. |
| lad:seniority-SU | Senior unsecured | Ranks with the issuer's ordinary debts; usually rated at the level of the issuer's long-term rating. |
| lad:action-UG | Upgraded | The rating is raised. |
| lad:etype-BANK | Bank | A bank. |
| lad:basis-LC | Local currency | Covers obligations in the currency of the entity's own country; not subject to the Country Ceiling. |
| lad:watch-RWN | Rating Watch Negative | A downgrade is likely in the near term. Not a downgrade yet. |
| lad:etype-FINSUB | Finance subsidiary | A subsidiary that exists to raise debt for its parent group. It usually has no issuer rating of its own; its debt is guaranteed by the parent, so investors take the parent's credit risk. |
| lad:etype-SOV | Sovereign | A national government. A sovereign record can carry a Country Ceiling, issuer ratings, or both: they are different things, and the ceiling is not the sovereign's rating. |
| lad:type-STIDR | Short-term Issuer Default Rating | The issuer's ability to meet obligations falling due within about a year, on the short-term scale (F1+ to D). Not comparable with long-term ratings. |
| lad:type-CC | Country Ceiling | Not a rating of anyone. A cap, set for a country, on the foreign-currency ratings of entities domiciled there and of their foreign-currency debt. It reflects transfer and convertibility risk: the risk that the government stops money being converted or sent abroad, so even a sound company could not pay foreign-currency debt. Foreign-currency ratings of entities in the country are generally no higher than the ceiling; local-currency ratings are not capped. A Country Ceiling is not the sovereign's own issuer rating. |

Run more queries, or give the final answers.
The model 
<invoke_placeholder>
</invoke_placeholder>

```sparql
PREFIX rdfs: <http://www.w3.org/2000/01/rdf-schema#>
PREFIX lad: <https://example.org/ladder/>
SELECT ?s ?p ?o WHERE { ?s ?p ?o . ?s a lad:Instrument . FILTER(?s IN (lad:I01,lad:I02,lad:I03,lad:I04,lad:I05,lad:I06)) }
```

```sparql
PREFIX rdfs: <http://www.w3.org/2000/01/rdf-schema#>
PREFIX lad: <https://example.org/ladder/>
SELECT ?a ?thing ?type ?act ?date ?r ?ob ?ol ?w ?vt ?basis WHERE { ?a a lad:RatingAction ; lad:ratedThing ?thing . FILTER(?thing IN (lad:E01)) OPTIONAL{?a lad:ratingType ?type} OPTIONAL{?a lad:action ?act} OPTIONAL{?a lad:date ?date} OPTIONAL{?a lad:rating ?r} OPTIONAL{?a lad:outlook ?ol} OPTIONAL{?a lad:watch ?w} OPTIONAL{?a lad:validTo ?vt} OPTIONAL{?a lad:ccyBasis ?basis} } ORDER BY ?date
```


<invoke_placeholder>
</invoke_placeholder>
Query results 
Query 1:

| s | p | o |
|---|---|---|
| lad:I01 | rdf:type | lad:Instrument |
| lad:I01 | lad:description | Kestrel Energy 4.50% notes due 2030 |
| lad:I01 | lad:issuer | lad:E01 |
| lad:I01 | rdfs:label | Kestrel Energy 4.50% 2030 |
| lad:I01 | lad:seniority | lad:seniority-SU |
| lad:I01 | lad:maturity | 2030-03-15 |
| lad:I01 | lad:currency | GBP |
| lad:I01 | lad:localCurrency | true |
| lad:I01 | lad:creditRiskOf | lad:E01 |
| lad:I02 | rdf:type | lad:Instrument |
| lad:I02 | lad:description | Kestrel Energy 6.25% notes due 2031 |
| lad:I02 | lad:issuer | lad:E01 |
| lad:I02 | rdfs:label | Kestrel Energy 6.25% 2031 |
| lad:I02 | lad:seniority | lad:seniority-SUB |
| lad:I02 | lad:maturity | 2031-09-30 |
| lad:I02 | lad:currency | GBP |
| lad:I02 | lad:localCurrency | true |
| lad:I02 | lad:creditRiskOf | lad:E01 |
| lad:I03 | rdf:type | lad:Instrument |
| lad:I03 | lad:description | Northwind Finance 3.75% notes due 2030 |
| lad:I03 | lad:issuer | lad:E04 |
| lad:I03 | rdfs:label | Northwind Finance 3.75% 2030 |
| lad:I03 | lad:seniority | lad:seniority-SU |
| lad:I03 | lad:maturity | 2030-05-01 |
| lad:I03 | lad:currency | EUR |
| lad:I03 | lad:guarantor | lad:E02 |
| lad:I03 | lad:localCurrency | true |
| lad:I03 | lad:creditRiskOf | lad:E02 |
| lad:I04 | rdf:type | lad:Instrument |
| lad:I04 | lad:description | Valdoria Telecom 5.00% notes due 2029 |
| lad:I04 | lad:issuer | lad:E05 |
| lad:I04 | rdfs:label | Valdoria Telecom 5.00% 2029 |
| lad:I04 | lad:seniority | lad:seniority-SU |
| lad:I04 | lad:maturity | 2029-11-20 |
| lad:I04 | lad:currency | USD |
| lad:I04 | lad:localCurrency | false |
| lad:I04 | lad:creditRiskOf | lad:E05 |
| lad:I05 | rdf:type | lad:Instrument |
| lad:I05 | lad:description | Halden Leasing 2.90% notes due 2028 |
| lad:I05 | lad:issuer | lad:E11 |
| lad:I05 | rdfs:label | Halden Leasing 2.90% 2028 |
| lad:I05 | lad:seniority | lad:seniority-SU |
| lad:I05 | lad:maturity | 2028-06-30 |
| lad:I05 | lad:currency | EUR |
| lad:I05 | lad:guarantor | lad:E10 |
| lad:I05 | lad:localCurrency | true |
| lad:I05 | lad:creditRiskOf | lad:E10 |
| lad:I06 | rdf:type | lad:Instrument |
| lad:I06 | lad:description | Corvenia Power 7.10% notes due 2032 |
| lad:I06 | lad:issuer | lad:E15 |
| lad:I06 | rdfs:label | Corvenia Power 7.10% 2032 |
| lad:I06 | lad:seniority | lad:seniority-SUB |
| lad:I06 | lad:maturity | 2032-02-15 |
| lad:I06 | lad:currency | USD |
| lad:I06 | lad:localCurrency | false |
| lad:I06 | lad:creditRiskOf | lad:E15 |

Query 2:

| a | thing | type | act | date | r | ob | ol | w | vt | basis |
|---|---|---|---|---|---|---|---|---|---|---|
| lad:A01 | lad:E01 | lad:type-LTIDR | lad:action-AS | 2024-03-12 | A- |  | lad:outlook-STA |  | 2025-06-20 | lad:basis-FC |
| lad:A02 | lad:E01 | lad:type-LTIDR | lad:action-DG | 2025-06-20 | BBB |  | lad:outlook-STA |  | 2026-02-10 | lad:basis-FC |
| lad:A03 | lad:E01 | lad:type-LTIDR | lad:action-AF | 2026-02-10 | BBB |  | lad:outlook-NEG |  |  | lad:basis-FC |
| lad:A04 | lad:E01 | lad:type-STIDR | lad:action-AF | 2026-02-10 | F2 |  |  |  |  | lad:basis-FC |

Run more queries, or give the final answers.
The model 
<invoke_placeholder>
</invoke_placeholder>

```sparql
PREFIX rdfs: <http://www.w3.org/2000/01/rdf-schema#>
PREFIX lad: <https://example.org/ladder/>
SELECT ?e ?l ?dom ?up ?par ?same WHERE { ?e a lad:Entity . FILTER(!REGEX(STR(?e),"E1[0-9]{3}$") && !REGEX(STR(?e),"E[2-9][0-9]{3}$")) OPTIONAL{?e rdfs:label ?l} OPTIONAL{?e lad:domicile ?dom} OPTIONAL{?e lad:ultimateParent ?up} OPTIONAL{?e lad:parent ?par} OPTIONAL{?e lad:sameEntityAs ?same} } ORDER BY ?e
```

```sparql
PREFIX rdfs: <http://www.w3.org/2000/01/rdf-schema#>
PREFIX lad: <https://example.org/ladder/>
SELECT ?a ?thing ?type ?act ?date ?r ?ol ?w ?vt ?basis WHERE { ?a a lad:RatingAction ; lad:ratedThing ?thing . FILTER(!REGEX(STR(?thing),"[EI][0-9]{4}$")) OPTIONAL{?a lad:ratingType ?type} OPTIONAL{?a lad:action ?act} OPTIONAL{?a lad:date ?date} OPTIONAL{?a lad:rating ?r} OPTIONAL{?a lad:outlook ?ol} OPTIONAL{?a lad:watch ?w} OPTIONAL{?a lad:validTo ?vt} OPTIONAL{?a lad:ccyBasis ?basis} FILTER(?thing != lad:E01) } ORDER BY ?thing ?date
```

```sparql
PREFIX rdfs: <http://www.w3.org/2000/01/rdf-schema#>
PREFIX lad: <https://example.org/ladder/>
SELECT ?s ?d ?iss ?g ?risk ?sen ?cur ?lc WHERE { ?s a lad:Instrument . FILTER(!REGEX(STR(?s),"I[0-9]{4}$")) OPTIONAL{?s lad:description ?d} OPTIONAL{?s lad:issuer ?iss} OPTIONAL{?s lad:guarantor ?g} OPTIONAL{?s lad:creditRiskOf ?risk} OPTIONAL{?s lad:seniority ?sen} OPTIONAL{?s lad:currency ?cur} OPTIONAL{?s lad:localCurrency ?lc} } ORDER BY ?s
```
Query results 
Query 1:

| e | l | dom | up | par | same |
|---|---|---|---|---|---|
| lad:CV | Republic of Corvenia | CV | lad:CV |  |  |
| lad:E01 | Kestrel Energy plc | GB | lad:E01 |  |  |
| lad:E02 | Northwind Holdings plc | GB | lad:E02 |  | lad:E03 |
| lad:E03 | NORTHWIND HLDGS | GB | lad:E03 |  | lad:E02 |
| lad:E04 | Northwind Finance BV | NL | lad:E02 | lad:E02 |  |
| lad:E04 | Northwind Finance BV | NL | lad:E03 | lad:E02 |  |
| lad:E05 | Valdoria Telecom SA | VD | lad:E05 |  |  |
| lad:E06 | Orrin Bank AG | DE | lad:E06 |  |  |
| lad:E07 | Pellam Retail Ltd | GB | lad:E07 |  |  |
| lad:E08 | Saxby Shipping SA | GR | lad:E08 |  |  |
| lad:E09 | Halden Group plc | GB | lad:E09 |  |  |
| lad:E10 | Halden Bank AG | LU | lad:E09 | lad:E09 | lad:E17 |
| lad:E11 | Halden Leasing SA | FR | lad:E09 | lad:E10 |  |
| lad:E12 | Halden Foods Ltd | GB | lad:E12 |  |  |
| lad:E13 | Orrin Bancorp Inc | US | lad:E13 |  |  |
| lad:E14 | Marlow Utilities plc | GB | lad:E14 |  |  |
| lad:E15 | Corvenia Power SA | CV | lad:E15 |  |  |
| lad:E16 | Brindle Capital Ltd | GB |  |  |  |
| lad:E17 | HALDEN BANK | LU | lad:E09 |  | lad:E10 |
| lad:VD | Republic of Valdoria | VD | lad:VD |  |  |

Query 2:

| a | thing | type | act | date | r | ol | w | vt | basis |
|---|---|---|---|---|---|---|---|---|---|
| lad:A38 | lad:CV | lad:type-LTIDR | lad:action-AS | 2024-01-01 | BBB+ | lad:outlook-STA |  |  | lad:basis-FC |
| lad:A39 | lad:CV | lad:type-LTIDR | lad:action-AS | 2024-01-01 | A- | lad:outlook-STA |  |  | lad:basis-LC |
| lad:A37 | lad:CV | lad:type-CC | lad:action-AS | 2024-01-01 | A |  |  |  |  |
| lad:A08 | lad:E02 | lad:type-LTIDR | lad:action-AS | 2023-11-01 | A | lad:outlook-STA |  | 2025-09-15 | lad:basis-FC |
| lad:A09 | lad:E03 | lad:type-LTIDR | lad:action-AF | 2025-09-15 | A | lad:outlook-POS |  |  | lad:basis-FC |
| lad:A13 | lad:E05 | lad:type-LTIDR | lad:action-AS | 2025-04-01 | BBB- | lad:outlook-STA |  |  | lad:basis-LC |
| lad:A14 | lad:E05 | lad:type-LTIDR | lad:action-AS | 2025-04-01 | BB | lad:outlook-STA |  |  | lad:basis-FC |
| lad:A16 | lad:E06 | lad:type-LTIDR | lad:action-AS | 2024-05-01 | A- | lad:outlook-STA |  | 2026-09-03 | lad:basis-FC |
| lad:A17 | lad:E06 | lad:type-LTIDR | lad:action-RW | 2026-09-03 | A- |  | lad:watch-RWN |  | lad:basis-FC |
| lad:A18 | lad:E07 | lad:type-LTIDR | lad:action-AS | 2024-01-10 | BB | lad:outlook-STA |  | 2026-05-12 | lad:basis-FC |
| lad:A19 | lad:E07 | lad:type-LTIDR | lad:action-WD | 2026-05-12 | WD |  |  |  | lad:basis-FC |
| lad:A20 | lad:E08 | lad:type-LTIDR | lad:action-AS | 2024-06-01 | B | lad:outlook-STA |  | 2026-01-20 | lad:basis-FC |
| lad:A21 | lad:E08 | lad:type-LTIDR | lad:action-DG | 2026-01-20 | CCC |  |  | 2026-07-08 | lad:basis-FC |
| lad:A22 | lad:E08 | lad:type-LTIDR | lad:action-DG | 2026-07-08 | RD |  |  |  | lad:basis-FC |
| lad:A24 | lad:E09 | lad:type-LTIDR | lad:action-AS | 2023-05-01 | A | lad:outlook-STA |  | 2026-03-01 | lad:basis-FC |
| lad:A25 | lad:E09 | lad:type-LTIDR | lad:action-AF | 2026-03-01 | A | lad:outlook-NEG |  |  | lad:basis-FC |
| lad:A26 | lad:E10 | lad:type-LTIDR | lad:action-AS | 2023-05-01 | A- | lad:outlook-STA |  | 2026-04-15 | lad:basis-FC |
| lad:A27 | lad:E10 | lad:type-LTIDR | lad:action-DG | 2026-04-15 | BBB+ | lad:outlook-STA |  |  | lad:basis-FC |
| lad:A46 | lad:E11 | lad:type-CO | lad:action-AS | 2025-02-01 | BBB |  |  |  |  |
| lad:A30 | lad:E12 | lad:type-LTIDR | lad:action-AS | 2024-02-01 | BB- | lad:outlook-STA |  | 2025-08-01 | lad:basis-FC |
| lad:A31 | lad:E12 | lad:type-LTIDR | lad:action-UG | 2025-08-01 | BB | lad:outlook-STA |  |  | lad:basis-FC |
| lad:A32 | lad:E13 | lad:type-LTIDR | lad:action-AS | 2024-07-01 | BBB | lad:outlook-STA |  |  | lad:basis-FC |
| lad:A34 | lad:E14 | lad:type-LTIDR | lad:action-AS | 2023-01-15 | A- | lad:outlook-STA |  | 2024-09-30 | lad:basis-FC |
| lad:A36 | lad:E14 | lad:type-LTIDR | lad:action-DG | 2024-09-30 | BBB+ | lad:outlook-STA |  | 2025-11-20 | lad:basis-FC |
| lad:A35 | lad:E14 | lad:type-LTIDR | lad:action-RW | 2025-11-20 | BBB+ |  | lad:watch-RWN | 2026-05-01 | lad:basis-FC |
| lad:A33 | lad:E14 | lad:type-LTIDR | lad:action-AF | 2026-05-01 | BBB+ | lad:outlook-STA |  |  | lad:basis-FC |
| lad:A40 | lad:E15 | lad:type-LTIDR | lad:action-AS | 2024-03-01 | A+ | lad:outlook-STA |  |  | lad:basis-LC |
| lad:A41 | lad:E15 | lad:type-LTIDR | lad:action-AS | 2024-03-01 | A | lad:outlook-STA |  |  | lad:basis-FC |
| lad:A43 | lad:E16 | lad:type-LTIDR | lad:action-AS | 2024-04-01 | BBB- | lad:outlook-STA |  | 2026-06-01 | lad:basis-FC |
| lad:A44 | lad:E16 | lad:type-LTIDR | lad:action-DG | 2026-06-01 | BB+ | lad:outlook-STA |  |  | lad:basis-FC |
| lad:A05 | lad:I01 | lad:type-INST | lad:action-AS | 2024-03-12 | A- |  |  | 2025-06-20 |  |
| lad:A06 | lad:I01 | lad:type-INST | lad:action-DG | 2025-06-20 | BBB |  |  |  |  |
| lad:A23 | lad:I02 | lad:type-INST | lad:action-AS | 2024-03-12 | BBB |  |  | 2025-06-20 |  |
| lad:A07 | lad:I02 | lad:type-INST | lad:action-DG | 2025-06-20 | BB+ |  |  |  |  |
| lad:A10 | lad:I03 | lad:type-INST | lad:action-AS | 2023-11-01 | A |  |  | 2025-09-15 |  |
| lad:A11 | lad:I03 | lad:type-INST | lad:action-AF | 2025-09-15 | A |  |  |  |  |
| lad:A15 | lad:I04 | lad:type-INST | lad:action-AS | 2025-04-01 | BB |  |  |  |  |
| lad:A28 | lad:I05 | lad:type-INST | lad:action-AS | 2023-06-01 | A- |  |  | 2026-04-15 |  |
| lad:A29 | lad:I05 | lad:type-INST | lad:action-DG | 2026-04-15 | BBB+ |  |  |  |  |
| lad:A42 | lad:I06 | lad:type-INST | lad:action-AS | 2024-03-01 | A- |  |  |  |  |
| lad:A45 | lad:I07 | lad:type-INST | lad:action-AS | 2025-04-01 | BBB- |  |  |  |  |
| lad:A47 | lad:I08 | lad:type-INST | lad:action-EX | 2026-09-01 | A |  |  |  |  |
| lad:A12 | lad:VD | lad:type-CC | lad:action-AS | 2025-04-01 | BB |  |  |  |  |

Query 3:

| s | d | iss | g | risk | sen | cur | lc |
|---|---|---|---|---|---|---|---|
| lad:I01 | Kestrel Energy 4.50% notes due 2030 | lad:E01 |  | lad:E01 | lad:seniority-SU | GBP | true |
| lad:I02 | Kestrel Energy 6.25% notes due 2031 | lad:E01 |  | lad:E01 | lad:seniority-SUB | GBP | true |
| lad:I03 | Northwind Finance 3.75% notes due 2030 | lad:E04 | lad:E02 | lad:E02 | lad:seniority-SU | EUR | true |
| lad:I04 | Valdoria Telecom 5.00% notes due 2029 | lad:E05 |  | lad:E05 | lad:seniority-SU | USD | false |
| lad:I05 | Halden Leasing 2.90% notes due 2028 | lad:E11 | lad:E10 | lad:E10 | lad:seniority-SU | EUR | true |
| lad:I06 | Corvenia Power 7.10% notes due 2032 | lad:E15 |  | lad:E15 | lad:seniority-SUB | USD | false |
| lad:I07 | Valdoria Telecom 4.25% notes due 2027 | lad:E05 |  | lad:E05 | lad:seniority-SU | XVD | true |
| lad:I08 | Corvenia Power 6.00% notes due 2034 | lad:E15 |  | lad:E15 | lad:seniority-SU | USD | false |

Run more queries, or give the final answers.
The model 
```sparql
PREFIX rdfs: <http://www.w3.org/2000/01/rdf-schema#>
PREFIX lad: <https://example.org/ladder/>
SELECT (COUNT(DISTINCT ?t) AS ?n) (COUNT(DISTINCT ?i) AS ?ninst) WHERE { { ?a a lad:RatingInForce ; lad:ratedThing ?t ; lad:ratingType lad:type-LTIDR ; lad:rating ?r . FILTER(?r!="WD") } UNION { ?a a lad:RatingInForce ; lad:ratedThing ?i ; lad:ratingType lad:type-INST ; lad:rating ?r2 . FILTER(?r2!="WD") } }
```

```sparql
PREFIX rdfs: <http://www.w3.org/2000/01/rdf-schema#>
PREFIX lad: <https://example.org/ladder/>
SELECT ?a ?t ?type ?r ?ol ?w ?act ?basis WHERE { ?a a lad:RatingInForce ; lad:ratedThing ?t ; lad:ratingType ?type . OPTIONAL{?a lad:rating ?r} OPTIONAL{?a lad:outlook ?ol} OPTIONAL{?a lad:watch ?w} OPTIONAL{?a lad:action ?act} OPTIONAL{?a lad:ccyBasis ?basis} FILTER(?type=lad:type-LTIDR && (BOUND(?w) || ?ol=lad:outlook-NEG || ?r IN ("RD","D","SD","WD"))) } ORDER BY ?t
```

```sparql
PREFIX rdfs: <http://www.w3.org/2000/01/rdf-schema#>
PREFIX lad: <https://example.org/ladder/>
SELECT ?a ?t ?r ?act ?date WHERE { ?a a lad:RatingAction ; lad:ratedThing ?t ; lad:rating ?r ; lad:action ?act ; lad:date ?date . FILTER(?r IN ("RD","D","SD","C") ) } ORDER BY ?t
```

```sparql
PREFIX rdfs: <http://www.w3.org/2000/01/rdf-schema#>
PREFIX lad: <https://example.org/ladder/>
SELECT ?e ?l ?dom ?up ?par WHERE { ?e a lad:Entity . FILTER(REGEX(STR(?l),"Cerid Group|Rotam Group|Wonod Group|Vesol Group|Belir|Cerid Rosor|Cerid Guven|Cerid Telecom","i")) ?e rdfs:label ?l . OPTIONAL{?e lad:domicile ?dom} OPTIONAL{?e lad:ultimateParent ?up} OPTIONAL{?e lad:parent ?par} }
```

```sparql
PREFIX rdfs: <http://www.w3.org/2000/01/rdf-schema#>
PREFIX lad: <https://example.org/ladder/>
SELECT (COUNT(DISTINCT ?e) AS ?ents) (COUNT(DISTINCT ?root) AS ?roots) WHERE { ?e a lad:Entity . OPTIONAL{?e lad:sameEntityAs ?s} BIND(IF(BOUND(?s) && STR(?s)<STR(?e), ?s, ?e) AS ?root) }
```
Query results 
Query 1:

| n | ninst |
|---|---|
| 378 | 113 |

Query 2:

| a | t | type | r | ol | w | act | basis |
|---|---|---|---|---|---|---|---|
| lad:A03 | lad:E01 | lad:type-LTIDR | BBB | lad:outlook-NEG |  | lad:action-AF | lad:basis-FC |
| lad:A17 | lad:E06 | lad:type-LTIDR | A- |  | lad:watch-RWN | lad:action-RW | lad:basis-FC |
| lad:A22 | lad:E08 | lad:type-LTIDR | RD |  |  | lad:action-DG | lad:basis-FC |
| lad:A25 | lad:E09 | lad:type-LTIDR | A | lad:outlook-NEG |  | lad:action-AF | lad:basis-FC |
| lad:A1007 | lad:E1005 | lad:type-LTIDR | BB | lad:outlook-NEG |  | lad:action-DG | lad:basis-FC |
| lad:A1010 | lad:E1006 | lad:type-LTIDR | AA |  | lad:watch-RWN | lad:action-RW | lad:basis-FC |
| lad:A1026 | lad:E1013 | lad:type-LTIDR | BB- |  | lad:watch-RWN | lad:action-RW | lad:basis-FC |
| lad:A1042 | lad:E1019 | lad:type-LTIDR | BBB- |  | lad:watch-RWN | lad:action-RW | lad:basis-LC |
| lad:A1062 | lad:E1029 | lad:type-LTIDR | A- | lad:outlook-NEG |  | lad:action-UG | lad:basis-FC |
| lad:A1070 | lad:E1034 | lad:type-LTIDR | BBB+ | lad:outlook-NEG |  | lad:action-DG | lad:basis-FC |
| lad:A1076 | lad:E1037 | lad:type-LTIDR | A |  | lad:watch-RWN | lad:action-RW | lad:basis-FC |
| lad:A1080 | lad:E1039 | lad:type-LTIDR | A |  | lad:watch-RWN | lad:action-RW | lad:basis-FC |
| lad:A1092 | lad:E1046 | lad:type-LTIDR | AA- | lad:outlook-NEG |  | lad:action-UG | lad:basis-FC |
| lad:A1117 | lad:E1055 | lad:type-LTIDR | BBB- | lad:outlook-NEG |  | lad:action-UG | lad:basis-FC |
| lad:A1119 | lad:E1056 | lad:type-LTIDR | A+ | lad:outlook-NEG |  | lad:action-DG | lad:basis-FC |
| lad:A1132 | lad:E1059 | lad:type-LTIDR | BB- |  | lad:watch-RWN | lad:action-RW | lad:basis-LC |
| lad:A1129 | lad:E1060 | lad:type-LTIDR | BB- | lad:outlook-NEG |  | lad:action-AF | lad:basis-FC |
| lad:A1134 | lad:E1061 | lad:type-LTIDR | A |  | lad:watch-RWN | lad:action-RW | lad:basis-FC |
| lad:A1142 | lad:E1064 | lad:type-LTIDR | A- | lad:outlook-NEG |  | lad:action-UG | lad:basis-FC |
| lad:A1145 | lad:E1066 | lad:type-LTIDR | A- |  | lad:watch-RWN | lad:action-RW | lad:basis-FC |
| lad:A1156 | lad:E1072 | lad:type-LTIDR | BB- | lad:outlook-NEG |  | lad:action-AF | lad:basis-FC |
| lad:A1171 | lad:E1079 | lad:type-LTIDR | BB+ | lad:outlook-NEG |  | lad:action-AF | lad:basis-FC |
| lad:A1174 | lad:E1080 | lad:type-LTIDR | A- | lad:outlook-NEG |  | lad:action-DG | lad:basis-FC |
| lad:A1190 | lad:E1088 | lad:type-LTIDR | B+ |  | lad:watch-RWN | lad:action-RW | lad:basis-FC |
| lad:A1211 | lad:E1098 | lad:type-LTIDR | BBB- |  | lad:watch-RWN | lad:action-RW | lad:basis-FC |
| lad:A1214 | lad:E1099 | lad:type-LTIDR | BB+ |  | lad:watch-RWN | lad:action-RW | lad:basis-FC |
| lad:A1226 | lad:E1105 | lad:type-LTIDR | A+ | lad:outlook-NEG |  | lad:action-UG | lad:basis-FC |
| lad:A1237 | lad:E1109 | lad:type-LTIDR | A+ |  | lad:watch-RWN | lad:action-RW | lad:basis-FC |
| lad:A1255 | lad:E1118 | lad:type-LTIDR | BB+ | lad:outlook-NEG |  | lad:action-DG | lad:basis-FC |
| lad:A1272 | lad:E1126 | lad:type-LTIDR | BB |  | lad:watch-RWN | lad:action-RW | lad:basis-FC |
| lad:A1284 | lad:E1132 | lad:type-LTIDR | B+ |  | lad:watch-RWN | lad:action-RW | lad:basis-FC |
| lad:A1287 | lad:E1133 | lad:type-LTIDR | B+ |  | lad:watch-RWN | lad:action-RW | lad:basis-FC |
| lad:A1317 | lad:E1146 | lad:type-LTIDR | BB |  | lad:watch-RWN | lad:action-RW | lad:basis-FC |
| lad:A1338 | lad:E1158 | lad:type-LTIDR | BBB | lad:outlook-NEG |  | lad:action-AF | lad:basis-FC |
| lad:A1344 | lad:E1161 | lad:type-LTIDR | B | lad:outlook-NEG |  | lad:action-DG | lad:basis-FC |
| lad:A1362 | lad:E1168 | lad:type-LTIDR | BBB- |  | lad:watch-RWN | lad:action-RW | lad:basis-FC |
| lad:A1387 | lad:E1181 | lad:type-LTIDR | A- |  | lad:watch-RWN | lad:action-RW | lad:basis-FC |
| lad:A1398 | lad:E1188 | lad:type-LTIDR | BB- | lad:outlook-NEG |  | lad:action-UG | lad:basis-FC |
| lad:A1404 | lad:E1190 | lad:type-LTIDR | BBB | lad:outlook-NEG |  | lad:action-UG | lad:basis-FC |
| lad:A1410 | lad:E1194 | lad:type-LTIDR | A |  | lad:watch-RWN | lad:action-RW | lad:basis-FC |
| lad:A1427 | lad:E1203 | lad:type-LTIDR | BBB+ |  | lad:watch-RWN | lad:action-RW | lad:basis-FC |
| lad:A1442 | lad:E1210 | lad:type-LTIDR | BB |  | lad:watch-RWN | lad:action-RW | lad:basis-FC |
| lad:A1445 | lad:E1211 | lad:type-LTIDR | BBB- | lad:outlook-NEG |  | lad:action-AF | lad:basis-FC |
| lad:A1479 | lad:E1228 | lad:type-LTIDR | BB+ | lad:outlook-NEG |  | lad:action-DG | lad:basis-FC |
| lad:A1508 | lad:E1238 | lad:type-LTIDR | AA- |  | lad:watch-RWN | lad:action-RW | lad:basis-FC |
| lad:A1514 | lad:E1242 | lad:type-LTIDR | BBB |  | lad:watch-RWN | lad:action-RW | lad:basis-FC |
| lad:A1531 | lad:E1248 | lad:type-LTIDR | A- | lad:outlook-NEG |  | lad:action-AF | lad:basis-FC |
| lad:A1555 | lad:E1260 | lad:type-LTIDR | BBB- |  | lad:watch-RWN | lad:action-RW | lad:basis-FC |
| lad:A1558 | lad:E1262 | lad:type-LTIDR | B+ | lad:outlook-NEG |  | lad:action-AF | lad:basis-FC |
| lad:A1562 | lad:E1263 | lad:type-LTIDR | BBB- | lad:outlook-NEG |  | lad:action-DG | lad:basis-FC |
| lad:A1564 | lad:E1264 | lad:type-LTIDR | B+ |  | lad:watch-RWN | lad:action-RW | lad:basis-FC |
| lad:A1568 | lad:E1266 | lad:type-LTIDR | BBB |  | lad:watch-RWN | lad:action-RW | lad:basis-FC |
| lad:A1570 | lad:E1267 | lad:type-LTIDR | A- |  | lad:watch-RWN | lad:action-RW | lad:basis-FC |
| lad:A1577 | lad:E1271 | lad:type-LTIDR | A- | lad:outlook-NEG |  | lad:action-AF | lad:basis-FC |
| lad:A1600 | lad:E1282 | lad:type-LTIDR | BB+ | lad:outlook-NEG |  | lad:action-AF | lad:basis-FC |
| lad:A1627 | lad:E1294 | lad:type-LTIDR | A+ | lad:outlook-NEG |  | lad:action-DG | lad:basis-FC |
| lad:A1633 | lad:E1297 | lad:type-LTIDR | BBB |  | lad:watch-RWN | lad:action-RW | lad:basis-FC |
| lad:A1640 | lad:E1300 | lad:type-LTIDR | BBB | lad:outlook-NEG |  | lad:action-DG | lad:basis-FC |
| lad:A1676 | lad:E1314 | lad:type-LTIDR | BBB |  | lad:watch-RWN | lad:action-RW | lad:basis-FC |
| lad:A1682 | lad:E1317 | lad:type-LTIDR | BB |  | lad:watch-RWN | lad:action-RW | lad:basis-FC |
(21 more rows not shown)

Query 3:

| a | t | r | act | date |
|---|---|---|---|---|
| lad:A22 | lad:E08 | RD | lad:action-DG | 2026-07-08 |

Query 4:

| e | l | dom | up | par |
|---|---|---|---|---|
| lad:E5084 | Belir Luton Media SA | FR | lad:E5059 | lad:E5076 |
| lad:E5076 | Belir Property SA | FR | lad:E5059 | lad:E5069 |
| lad:E5013 | Cerid Telecom SA | ES | lad:E5001 | lad:E5006 |
| lad:E5063 | Belir Harem Property AG | DE | lad:E5059 | lad:E5060 |
| lad:E5065 | Belir Nelad Property AG | DE | lad:E5059 | lad:E5061 |
| lad:E5105 | Wonod Group SA | FR | lad:E5105 |  |
| lad:E5082 | Belir Bovid Telecom plc | GB | lad:E5059 | lad:E5074 |
| lad:E5074 | Belir Industries plc | GB | lad:E5059 | lad:E5068 |
| lad:E5085 | Belir Rutel Water SA | CV | lad:E5059 | lad:E5077 |
| lad:E5168 | BELIR MINING SA | FR | lad:E5059 | lad:E5086 |
| lad:E5059 | Belir Group AG | DE | lad:E5059 |  |
| lad:E5068 | Belir Kator Energy plc | GB | lad:E5059 | lad:E5064 |
| lad:E5072 | Belir Katin Telecom AG | DE | lad:E5059 | lad:E5067 |
| lad:E5011 | Cerid Guven Energy SA | VD | lad:E5001 | lad:E5167 |
| lad:E5069 | Belir Water SA | FR | lad:E5059 | lad:E5065 |
| lad:E5075 | Belir Gitid Industries plc | GB | lad:E5059 | lad:E5068 |
| lad:E5081 | Belir Vusad Telecom SA | VD | lad:E5059 | lad:E5073 |
| lad:E5047 | Cerid Rosor Holdings SA | VD | lad:E5001 | lad:E5035 |
| lad:E5061 | Belir Steel Inc | US | lad:E5059 | lad:E5059 |
| lad:E5071 | Belir Chemicals SA | FR | lad:E5059 | lad:E5066 |
| lad:E5067 | Belir Capital AG | DE | lad:E5059 | lad:E5063 |
| lad:E5132 | Vesol Group BV | NL | lad:E5132 |  |
| lad:E5086 | Rotam Group Inc | US | lad:E5086 |  |
| lad:E5001 | Cerid Group plc | GB | lad:E5001 |  |
| lad:E5064 | Belir Holdings plc | GB | lad:E5059 | lad:E5061 |
| lad:E5080 | Belir Foods AG | DE | lad:E5059 | lad:E5072 |
| lad:E5066 | Belir Shipping SA | FR | lad:E5059 | lad:E5062 |
| lad:E5062 | Belir Mining SA | FR | lad:E5059 | lad:E5060 |
| lad:E5077 | Belir Media SA | FR | lad:E5059 | lad:E5069 |
| lad:E5078 | Belir Vasin Water plc | GB | lad:E5059 | lad:E5070 |
| lad:E5060 | Belir Retail AG | DE | lad:E5059 | lad:E5059 |
| lad:E5073 | Belir Puvir Mining plc | GB | lad:E5059 | lad:E5067 |
| lad:E5070 | Belir Rusin Media SA | FR | lad:E5059 | lad:E5066 |
| lad:E5079 | Belir Sitom Logistics SA | FR | lad:E5059 | lad:E5071 |
| lad:E5083 | Belir Airlines plc | GB | lad:E5059 | lad:E5075 |

Query 5:

| ents | roots |
|---|---|
| 540 | 511 |

Run more queries, or give the final answers.
The model 
```sparql
PREFIX lad: <https://example.org/ladder/>
SELECT (COUNT(DISTINCT ?i) AS ?all) (COUNT(DISTINCT ?ig) AS ?igc) (COUNT(DISTINCT ?ex) AS ?exc) WHERE {
 ?a a lad:RatingInForce ; lad:ratedThing ?i ; lad:ratingType lad:type-INST ; lad:rating ?r ; lad:action ?act .
 OPTIONAL { FILTER(?r IN ("AAA","AA+","AA","AA-","A+","A","A-","BBB+","BBB","BBB-") && ?r!="WD") BIND(?i AS ?ig) }
 OPTIONAL { FILTER(?act=lad:action-EX) BIND(?i AS ?ex) }
}
```

```sparql
PREFIX lad: <https://example.org/ladder/>
SELECT (GROUP_CONCAT(DISTINCT STRAFTER(STR(?t),"ladder/");separator=",") AS ?dg2026) WHERE {
 ?a a lad:RatingAction ; lad:ratedThing ?t ; lad:ratingType lad:type-LTIDR ; lad:action lad:action-DG ; lad:date ?d . FILTER(?d>="2026-01-01"^^xsd:date && ?d<"2027-01-01"^^xsd:date) }
```

```sparql
PREFIX lad: <https://example.org/ladder/>
SELECT ?k (GROUP_CONCAT(DISTINCT STRAFTER(STR(?t),"ladder/");separator=",") AS ?ids) WHERE {
 ?a a lad:RatingInForce ; lad:ratedThing ?t ; lad:ratingType lad:type-LTIDR .
 { ?a lad:watch lad:watch-RWN BIND("RWN" AS ?k) } UNION { ?a lad:outlook lad:outlook-NEG BIND("NEG" AS ?k) } } GROUP BY ?k
```

```sparql
PREFIX lad: <https://example.org/ladder/>
SELECT (GROUP_CONCAT(DISTINCT STRAFTER(STR(?t),"ladder/");separator=",") AS ?ids) WHERE {
 ?b a lad:RatingAction ; lad:ratedThing ?t ; lad:ratingType lad:type-LTIDR .
 FILTER NOT EXISTS { ?a a lad:RatingInForce ; lad:ratedThing ?t ; lad:ratingType lad:type-LTIDR ; lad:rating ?r . FILTER(?r!="WD") } }
```

```sparql
PREFIX lad: <https://example.org/ladder/>
SELECT ?cc ?dom ?r WHERE { ?a a lad:RatingInForce ; lad:ratingType lad:type-CC ; lad:ratedThing ?cc ; lad:rating ?r . OPTIONAL{?cc lad:domicile ?dom} }
```

```sparql
PREFIX lad: <https://example.org/ladder/>
SELECT ?e ?dom ?r ?cr WHERE {
 VALUES (?r ?o) {("AAA" 1)("AA+" 2)("AA" 3)("AA-" 4)("A+" 5)("A" 6)("A-" 7)("BBB+" 8)("BBB" 9)("BBB-" 10)("BB+" 11)("BB" 12)("BB-" 13)("B+" 14)("B" 15)("B-" 16)("CCC+" 17)("CCC" 18)("CCC-" 19)("CC" 20)("C" 21)}
 VALUES (?cr ?co) {("AAA" 1)("AA+" 2)("AA" 3)("AA-" 4)("A+" 5)("A" 6)("A-" 7)("BBB+" 8)("BBB" 9)("BBB-" 10)("BB+" 11)("BB" 12)("BB-" 13)("B+" 14)("B" 15)("B-" 16)("CCC+" 17)("CCC" 18)("CCC-" 19)("CC" 20)("C" 21)}
 ?a a lad:RatingInForce ; lad:ratedThing ?e ; lad:ratingType lad:type-LTIDR ; lad:ccyBasis lad:basis-FC ; lad:rating ?r .
 ?e lad:domicile ?dom .
 ?c a lad:RatingInForce ; lad:ratingType lad:type-CC ; lad:ratedThing ?cty ; lad:rating ?cr . ?cty lad:domicile ?dom .
 FILTER(?o<=?co)
}
```

```sparql
PREFIX lad: <https://example.org/ladder/>
SELECT ?q (COUNT(DISTINCT ?root) AS ?n) WHERE {
 { ?a a lad:RatingInForce ; lad:ratedThing ?e ; lad:ratingType lad:type-LTIDR ; lad:rating ?r . FILTER(?r!="WD") BIND("issuers" AS ?q) }
 UNION { ?a a lad:RatingInForce ; lad:ratedThing ?e ; lad:ratingType lad:type-LTIDR ; lad:rating ?r . FILTER(?r!="WD") ?e lad:domicile "GB" BIND("gb" AS ?q) }
 UNION { ?e lad:domicile "LU" BIND("lu" AS ?q) }
 UNION { ?e lad:ultimateParent lad:E5001 BIND("cerid" AS ?q) }
 UNION { ?e lad:ultimateParent lad:E5086 BIND("rotam" AS ?q) }
 UNION { ?e lad:ultimateParent lad:E5105 BIND("wonod" AS ?q) }
 UNION { ?e lad:ultimateParent lad:E5132 BIND("vesol" AS ?q) }
 OPTIONAL { ?e lad:sameEntityAs ?s } BIND(IF(BOUND(?s) && STR(?s)<STR(?e), ?s, ?e) AS ?root)
} GROUP BY ?q
```

```sparql
PREFIX lad: <https://example.org/ladder/>
SELECT ?e ?dom ?par (COUNT(DISTINCT ?anc) AS ?lvl) ?r WHERE {
 ?e lad:ultimateParent lad:E5001 . OPTIONAL{?e lad:domicile ?dom} OPTIONAL{?e lad:parentEntity ?par} OPTIONAL{?e lad:ancestor ?anc}
 OPTIONAL{ ?a a lad:RatingInForce ; lad:ratedThing ?e ; lad:ratingType lad:type-LTIDR ; lad:ccyBasis lad:basis-FC ; lad:rating ?r }
} GROUP BY ?e ?dom ?par ?r ORDER BY ?e
```

```sparql
PREFIX lad: <https://example.org/ladder/>
SELECT ?i ?d ?iss ?g ?risk WHERE { ?i a lad:Instrument ; lad:issuer ?iss ; lad:creditRiskOf ?risk . OPTIONAL{?i lad:description ?d} OPTIONAL{?i lad:guarantor ?g}
 FILTER(BOUND(?g) || ?risk!=?iss) FILTER(?g IN (lad:E5001) || REGEX(STR(?i),"I[0-9]{4}$") || REGEX(?d,"Cross")) }
```
Query results 
Query 1:

| all | igc | exc |
|---|---|---|
| 113 | 72 | 0 |

Query 2:

| dg2026 |
|---|
| E1285,E1300,E1151,E1167,E1080,E5113,E1051,E10,E1034,E1347,E1343,E1290,E1350,E1341,E1229,E1342,E5097,E1351,E5059,E1255,E1340,E16,E1186,E1161,E1263,E1058,E1349,E1112,E08,E5116,E1170,E1344,E1228,E1163,E1243,E5033,E1299,E5019,E1053,E1348,E1213,E1346,E1159,E1057,E1345,E1064,E1294,E1093,E1144,E1307,E5156 |

Query 3:

| k | ids |
|---|---|
| RWN | E1203,E1314,E1194,E1210,E1260,E1133,E1146,E1242,E1066,E1168,E1297,E1109,E1061,E1132,E1088,E06,E1098,E1266,E1006,E1267,E1037,E1013,E1317,E1181,E1323,E1059,E1099,E1238,E1264,E1039,E1126,E1019 |
| NEG | E1300,E5099,E1080,E1105,E5113,E1034,E1118,E1056,E1064,E1055,E5097,E1046,E5059,E5020,E1161,E1263,E1282,E01,E5131,E5023,E5141,E5116,E09,E1271,E5039,E5102,E1228,E1060,E5073,E5033,E1079,E5019,E5050,E5062,E1072,E1190,E1005,E1248,E5057,E1294,E1188,E5119,E1029,E5013,E1262,E1158,E5156,E1211 |

Query 4:

| ids |
|---|
| E1002,E1084,E1032,E1234,E1219,E1206,E1107,E1244,E1172,E1159,E1057,E1041,E1347,E07,E1062,E1343,E1277,E1350,E1345,E1341,E1155,E1349,E1254,E1121,E1063,E1166,E1021,E1342,E1200,E1351,E1048,E1124,E1340,E1076,E1138,E16,E1348,E1140,E02,E1316,E1346,E1344,E1308,E1007,E1218,E1225,E1205,E1320,E1233,E5170 |

Query 5:

| cc | dom | r |
|---|---|---|
| lad:VD | VD | BB |
| lad:CV | CV | A |

Query 6:

| e | dom | r | cr |
|---|---|---|---|
| lad:E1194 | CV | A | A |
| lad:E15 | CV | A | A |
| lad:E5116 | CV | A | A |
| lad:E1039 | CV | A | A |
| lad:E5124 | VD | BB | BB |
| lad:E1236 | VD | BB | BB |
| lad:E1126 | VD | BB | BB |
| lad:E05 | VD | BB | BB |
| lad:E5047 | VD | BB | BB |
| lad:E1028 | VD | BB | BB |
| lad:E1101 | VD | BB | BB |
| lad:E5091 | VD | BB | BB |
| lad:E5012 | VD | BB | BB |

Query 7:

| q | n |
|---|---|
| issuers | 377 |
| gb | 79 |
| lu | 1 |
| cerid | 58 |
| rotam | 19 |
| wonod | 27 |
| vesol | 13 |

Query 8:

| e | dom | par | lvl | r |
|---|---|---|---|---|
| lad:E5001 | GB |  | 0 |  |
| lad:E5002 | GB | lad:E5001 | 1 | A+ |
| lad:E5003 | NL | lad:E5001 | 1 |  |
| lad:E5004 | GB | lad:E5001 | 1 |  |
| lad:E5005 | VD | lad:E5002 | 2 |  |
| lad:E5006 | GB | lad:E5002 | 2 |  |
| lad:E5007 | NL | lad:E5003 | 2 | B |
| lad:E5008 | NL | lad:E5003 | 2 | BBB+ |
| lad:E5009 | GB | lad:E5004 | 2 |  |
| lad:E5010 | US | lad:E5004 | 2 | BB- |
| lad:E5011 | VD | lad:E5005 | 4 |  |
| lad:E5011 | VD | lad:E5167 | 4 |  |
| lad:E5012 | VD | lad:E5005 | 4 | BB |
| lad:E5012 | VD | lad:E5167 | 4 | BB |
| lad:E5013 | ES | lad:E5006 | 3 | B- |
| lad:E5014 | IT | lad:E5006 | 3 |  |
| lad:E5015 | NL | lad:E5007 | 3 |  |
| lad:E5016 | NL | lad:E5007 | 3 | BB |
| lad:E5017 | NL | lad:E5008 | 3 | A- |
| lad:E5018 | NL | lad:E5008 | 3 | A |
| lad:E5019 | GB | lad:E5009 | 3 | BBB+ |
| lad:E5020 | FR | lad:E5009 | 3 | BBB+ |
| lad:E5021 | US | lad:E5010 | 3 | B |
| lad:E5022 | US | lad:E5010 | 3 | BB- |
| lad:E5023 | VD | lad:E5011 | 5 | B- |
| lad:E5024 | VD | lad:E5012 | 5 | B- |
| lad:E5025 | ES | lad:E5013 | 4 | BB |
| lad:E5026 | US | lad:E5014 | 4 |  |
| lad:E5027 | GB | lad:E5015 | 4 | BBB+ |
| lad:E5028 | NL | lad:E5016 | 4 | B- |
| lad:E5029 | NL | lad:E5017 | 4 | BB+ |
| lad:E5030 | NL | lad:E5018 | 4 | B |
| lad:E5031 | GB | lad:E5019 | 4 | A+ |
| lad:E5032 | FR | lad:E5020 | 4 | BBB- |
| lad:E5033 | US | lad:E5021 | 4 | A |
| lad:E5034 | NL | lad:E5022 | 4 |  |
| lad:E5035 | VD | lad:E5023 | 6 |  |
| lad:E5036 | IT | lad:E5024 | 6 | A- |
| lad:E5037 | ES | lad:E5025 | 5 | B+ |
| lad:E5038 | NL | lad:E5026 | 5 |  |
| lad:E5039 | ES | lad:E5027 | 5 | BB- |
| lad:E5040 | NL | lad:E5028 | 5 |  |
| lad:E5041 | DE | lad:E5029 | 5 | B- |
| lad:E5042 | NL | lad:E5030 | 5 | BB |
| lad:E5043 | GB | lad:E5031 | 5 |  |
| lad:E5044 | GB | lad:E5032 | 5 |  |
| lad:E5045 | CV | lad:E5033 | 5 |  |
| lad:E5046 | NL | lad:E5034 | 5 |  |
| lad:E5047 | VD | lad:E5035 | 7 | BB |
| lad:E5048 | GB | lad:E5036 | 7 | B- |
| lad:E5049 | GB | lad:E5037 | 6 | BBB- |
| lad:E5050 | NL | lad:E5038 | 6 | BBB+ |
| lad:E5051 | FR | lad:E5039 | 6 |  |
| lad:E5052 | FR | lad:E5040 | 6 |  |
| lad:E5053 | DE | lad:E5041 | 6 | BBB |
| lad:E5054 | NL | lad:E5042 | 6 |  |
| lad:E5055 | CV | lad:E5043 | 6 |  |
| lad:E5056 | GB | lad:E5044 | 6 |  |
| lad:E5057 | US | lad:E5045 | 6 | A |
| lad:E5058 | NL | lad:E5046 | 6 |  |
(1 more rows not shown)

Query 9:

| i | d | iss | g | risk |
|---|---|---|---|---|
| lad:I5003 | Rotam Funding 3.25% notes due 2032 | lad:E5090 | lad:E5086 | lad:E5086 |
| lad:I1107 | Wivin Airlines Finance 2.50% notes due 2031 | lad:E1339 | lad:E1241 | lad:E1241 |
| lad:I1098 | Niner Pharma Finance 3.50% notes due 2030 | lad:E1330 | lad:E1021 | lad:E1021 |
| lad:I5001 | Cerid Funding 4.25% notes due 2033 | lad:E5005 | lad:E5001 | lad:E5001 |
| lad:I5006 | Geren Funding 7.25% notes due 2030 | lad:E5149 | lad:E5145 | lad:E5145 |
| lad:I1103 | Belor Telecom Finance 2.50% notes due 2027 | lad:E1335 | lad:E1234 | lad:E1234 |
| lad:I5002 | Belir Funding 5.25% notes due 2035 | lad:E5062 | lad:E5059 | lad:E5059 |
| lad:I5007 | Cross-group 4.75% notes due 2031 | lad:E5133 | lad:E5145 | lad:E5145 |
| lad:I1102 | Votim Industries Finance 3.50% notes due 2027 | lad:E1334 | lad:E1260 | lad:E1260 |
| lad:I1093 | Poval Chemicals Finance 2.50% notes due 2034 | lad:E1325 | lad:E1084 | lad:E1084 |
| lad:I1100 | Sanin Mining Finance 2.50% notes due 2032 | lad:E1332 | lad:E1068 | lad:E1068 |
| lad:I5005 | Vesol Funding 7.25% notes due 2033 | lad:E5135 | lad:E5132 | lad:E5132 |
| lad:I1095 | Nuner Holdings Finance 4.50% notes due 2032 | lad:E1327 | lad:E1119 | lad:E1119 |
| lad:I1105 | Lanon Telecom Finance 5.50% notes due 2028 | lad:E1337 | lad:E1038 | lad:E1038 |
| lad:I1101 | Gilen Capital Finance 3.50% notes due 2031 | lad:E1333 | lad:E1082 | lad:E1082 |
| lad:I1097 | Ganen Shipping Finance 5.50% notes due 2030 | lad:E1329 | lad:E1069 | lad:E1069 |
| lad:I1094 | Witad Steel Finance 6.50% notes due 2027 | lad:E1326 | lad:E1052 | lad:E1052 |
| lad:I1106 | Hivor Industries Finance 6.50% notes due 2027 | lad:E1338 | lad:E1073 | lad:E1073 |
| lad:I1104 | Navor Holdings Finance 2.50% notes due 2029 | lad:E1336 | lad:E1176 | lad:E1176 |
| lad:I5004 | Wonod Funding 4.25% notes due 2032 | lad:E5108 | lad:E5105 | lad:E5105 |
| lad:I1099 | Tulol Shipping Finance 3.50% notes due 2034 | lad:E1331 | lad:E1025 | lad:E1025 |
| lad:I1096 | Palad Mining Finance 6.50% notes due 2030 | lad:E1328 | lad:E1244 | lad:E1244 |

Run more queries, or give the final answers.
The model 
```sparql
PREFIX lad: <https://example.org/ladder/>
SELECT ?p ?o WHERE { lad:E16 ?p ?o }
```

```sparql
PREFIX lad: <https://example.org/ladder/>
SELECT ?a ?type ?act ?r ?vt WHERE { ?a lad:ratedThing lad:E16 ; lad:ratingType ?type . OPTIONAL{?a lad:action ?act} OPTIONAL{?a lad:rating ?r} OPTIONAL{?a lad:validTo ?vt} OPTIONAL{ ?a a ?c . FILTER(?c=lad:RatingInForce) BIND("inforce" AS ?vt2)} }
```

```sparql
PREFIX lad: <https://example.org/ladder/>
SELECT ?e ?up ?par ?same WHERE { VALUES ?e {lad:E5062 lad:E5168 lad:E5133 lad:E5145 lad:E5167 lad:E5005} OPTIONAL{?e lad:ultimateParent ?up} OPTIONAL{?e lad:parent ?par} OPTIONAL{?e lad:sameEntityAs ?same} }
```

```sparql
PREFIX lad: <https://example.org/ladder/>
SELECT ?e ?dom ?r ?basis WHERE { { ?e lad:ultimateParent lad:E5105 } UNION { ?e lad:ultimateParent lad:E5132 } OPTIONAL{?e lad:domicile ?dom} OPTIONAL{ ?a a lad:RatingInForce ; lad:ratedThing ?e ; lad:ratingType lad:type-LTIDR ; lad:ccyBasis ?basis ; lad:rating ?r } } ORDER BY ?e
```

```sparql
PREFIX lad: <https://example.org/ladder/>
SELECT (COUNT(DISTINCT ?e) AS ?n) WHERE { ?a a lad:RatingInForce ; lad:ratedThing ?e ; lad:ratingType lad:type-LTIDR ; lad:rating ?r . FILTER(?r!="WD") ?e lad:ancestor ?v . ?v lad:domicile "VD" }
```

```sparql
PREFIX lad: <https://example.org/ladder/>
SELECT ?e ?r ?basis WHERE { ?e lad:ultimateParent lad:E5001 . ?a a lad:RatingInForce ; lad:ratedThing ?e ; lad:ratingType lad:type-LTIDR ; lad:ccyBasis ?basis ; lad:rating ?r . FILTER(?basis=lad:basis-FC && ?r IN ("BB+","BB","BB-","B+","B","B-","CCC+","CCC","CCC-","CC","C","RD","D")) }
```

```sparql
PREFIX lad: <https://example.org/ladder/>
SELECT (COUNT(DISTINCT ?i) AS ?ig) WHERE { ?a a lad:RatingInForce ; lad:ratedThing ?i ; lad:ratingType lad:type-INST ; lad:rating ?r . FILTER(?r IN ("AAA","AA+","AA","AA-","A+","A","A-","BBB+","BBB","BBB-")) }
```

```sparql
PREFIX lad: <https://example.org/ladder/>
SELECT (GROUP_CONCAT(DISTINCT STRAFTER(STR(?t),"ladder/");separator=",") AS ?ids) WHERE {
 ?b a lad:RatingAction ; lad:ratedThing ?t ; lad:ratingType lad:type-LTIDR ; lad:rating ?x . FILTER(?x!="WD")
 FILTER NOT EXISTS { ?a a lad:RatingInForce ; lad:ratedThing ?t ; lad:ratingType lad:type-LTIDR ; lad:rating ?r . FILTER(?r!="WD") }
 FILTER NOT EXISTS { ?t lad:sameEntityAs ?s . ?a2 a lad:RatingInForce ; lad:ratedThing ?s ; lad:ratingType lad:type-LTIDR ; lad:rating ?r2 . FILTER(?r2!="WD") } }
```
Query results 
Query 1:

| p | o |
|---|---|
| rdf:type | lad:Entity |
| rdfs:label | Brindle Capital Ltd |
| lad:entityType | lad:etype-CORP |
| lad:country | GB |
| lad:lei | 5493003Z3PXXR7KNFM81 |
| lad:sourceSystem | QA |
| lad:name | Brindle Capital Ltd |
| lad:domicile | GB |

Query 2:

| a | type | act | r | vt |
|---|---|---|---|---|
| lad:A44 | lad:type-LTIDR | lad:action-DG | BB+ |  |
| lad:A43 | lad:type-LTIDR | lad:action-AS | BBB- | 2026-06-01 |

Query 3:

| e | up | par | same |
|---|---|---|---|
| lad:E5062 | lad:E5059 | lad:E5060 | lad:E5168 |
| lad:E5168 | lad:E5059 | lad:E5086 | lad:E5062 |
| lad:E5133 | lad:E5132 | lad:E5132 |  |
| lad:E5145 | lad:E5145 |  |  |
| lad:E5167 | lad:E5001 |  | lad:E5005 |
| lad:E5005 | lad:E5001 | lad:E5002 | lad:E5167 |

Query 4:

| e | dom | r | basis |
|---|---|---|---|
| lad:E5105 | FR | BB- | lad:basis-FC |
| lad:E5106 | VD | B- | lad:basis-FC |
| lad:E5107 | NL |  |  |
| lad:E5108 | NL | BBB | lad:basis-FC |
| lad:E5109 | FR | B- | lad:basis-FC |
| lad:E5110 | NL | BB | lad:basis-FC |
| lad:E5111 | CV |  |  |
| lad:E5112 | NL | BB+ | lad:basis-FC |
| lad:E5113 | NL | BB- | lad:basis-FC |
| lad:E5114 | US | B+ | lad:basis-FC |
| lad:E5115 | FR | B | lad:basis-FC |
| lad:E5116 | CV | A | lad:basis-FC |
| lad:E5117 | CV | BB | lad:basis-FC |
| lad:E5118 | NL |  |  |
| lad:E5119 | FR | A | lad:basis-FC |
| lad:E5120 | US |  |  |
| lad:E5121 | FR |  |  |
| lad:E5122 | FR |  |  |
| lad:E5123 | ES | BB- | lad:basis-FC |
| lad:E5124 | VD | BB | lad:basis-FC |
| lad:E5125 | FR |  |  |
| lad:E5126 | US | BBB+ | lad:basis-FC |
| lad:E5127 | CV | B | lad:basis-FC |
| lad:E5128 | FR |  |  |
| lad:E5129 | ES | BB- | lad:basis-FC |
| lad:E5130 | VD | B- | lad:basis-FC |
| lad:E5131 | ES | B | lad:basis-FC |
| lad:E5132 | NL | BB+ | lad:basis-FC |
| lad:E5133 | GB | BBB- | lad:basis-FC |
| lad:E5134 | NL |  |  |
| lad:E5135 | GB |  |  |
| lad:E5136 | NL | BBB- | lad:basis-FC |
| lad:E5137 | GB |  |  |
| lad:E5138 | US |  |  |
| lad:E5139 | US |  |  |
| lad:E5140 | NL | A+ | lad:basis-FC |
| lad:E5141 | FR | BB | lad:basis-FC |
| lad:E5142 | US |  |  |
| lad:E5143 | DE | A | lad:basis-FC |
| lad:E5144 | NL | BB- | lad:basis-FC |
| lad:E5169 | VD |  |  |

Query 5:

| n |
|---|
| 31 |

Query 6:

| e | r | basis |
|---|---|---|
| lad:E5029 | BB+ | lad:basis-FC |
| lad:E5016 | BB | lad:basis-FC |
| lad:E5042 | BB | lad:basis-FC |
| lad:E5012 | BB | lad:basis-FC |
| lad:E5025 | BB | lad:basis-FC |
| lad:E5047 | BB | lad:basis-FC |
| lad:E5010 | BB- | lad:basis-FC |
| lad:E5039 | BB- | lad:basis-FC |
| lad:E5022 | BB- | lad:basis-FC |
| lad:E5037 | B+ | lad:basis-FC |
| lad:E5007 | B | lad:basis-FC |
| lad:E5030 | B | lad:basis-FC |
| lad:E5021 | B | lad:basis-FC |
| lad:E5041 | B- | lad:basis-FC |
| lad:E5028 | B- | lad:basis-FC |
| lad:E5048 | B- | lad:basis-FC |
| lad:E5023 | B- | lad:basis-FC |
| lad:E5024 | B- | lad:basis-FC |
| lad:E5013 | B- | lad:basis-FC |

Query 7:

| ig |
|---|
| 72 |

Query 8:

| ids |
|---|
| E1084,E1032,E1234,E1219,E1107,E1244,E1172,E1347,E1062,E1343,E1350,E1345,E1341,E1349,E1155,E1166,E1342,E1200,E1351,E1277,E1124,E1340,E1076,E1138,E16,E1348,E1041,E1159,E1140,E1346,E1002,E1344,E1121,E1308,E1007,E1316,E07,E1206,E1225,E1057,E1205,E1320,E1063,E1233,E1254,E5170,E1218,E1048,E1021 |

Run more queries, or give the final answers.
The model 
**Q1.** A-. A01 (A-, 2024-03-12) was in force until A02 replaced it on 2025-06-20.
**Q2.** No. The only downgrade was A02 in 2025; A03 on 2026-02-10 is an Affirmation with a Negative outlook.
**Q3.** No, BB+. The 2031 note (I02) is subordinated, and A07 downgraded it to BB+.
**Q4.** Positive. E02 and E03 are the same entity, and the latest action, A09 (2025-09-15), carries a Positive outlook.
**Q5.** The guarantor E02 (Northwind Holdings). I03 is rated A (A11).
**Q6.** The data does not state a reason, but it fits the Country Ceiling. Valdoria's ceiling is BB (A12) and E05's foreign-currency rating is BB (A14). Its local-currency rating is BBB- (A13) and is not capped.
**Q7.** The 51 entities are listed in the JSON. They are entities with a Downgraded long-term issuer action dated in 2026, including E08, E10 and E16.
**Q8.** E08. A22 moved it to RD on 2026-07-08.
**Q9.** 377 distinct issuers hold a long-term issuer rating in force.
**Q10.** Depends. Its foreign-currency rating is BB (sub-investment grade), but its local-currency rating is BBB- (investment grade).
**Q11.** BBB+ (A36).
**Q12.** A- (A34).
**Q13.** 1, from A36 on 2024-09-30.
**Q14.** None. Halden Foods' first rating, A30, is dated 2024-02-01.
**Q15.** A- (A26, in force until 2026-04-15).
**Q16.** No. The rating stayed BBB+ throughout; the Watch (A35) and the Affirmation (A33) are not changes.
**Q17.** No. A17 is only a Watch Negative placement.
**Q18.** The 32 entities with a Rating Watch Negative in force are in the JSON.
**Q19.** The 48 entities with a Negative outlook in force are in the JSON.
**Q20.** No. A19 is a withdrawal, which is not a default.
**Q21.** The 49 entities in the JSON had an issuer rating at some point but none in force on 1 October 2026. The query excluded records whose same-entity twin still has a rating.
**Q22.** Only E08. A22 moved it to RD, the only default-level rating in the data.
**Q23.** F2 (A04).
**Q24.** Yes. It is BBB (A03).
**Q25.** 72 instruments hold an investment-grade rating in force.
**Q26.** A+ (A40).
**Q27.** A- (A42).
**Q28.** BBB+ (A38).
**Q29.** None. The Republic of Valdoria only has a Country Ceiling (A12), which is not a rating.
**Q30.** The 13 entities in the JSON have a foreign-currency rating equal to their country's ceiling (A for CV, BB for VD).
**Q31.** No. Every foreign-currency rating at or above the ceiling was exactly at it.
**Q32.** E09.
**Q33.** E10 (Halden Bank), the guarantor of I05. I05 is rated BBB+ (A29).
**Q34.** No. E12 is its own ultimate parent, while E10 sits under E09.
**Q35.** 3 distinct legal entities: E09, E10 and E11. E17 is a duplicate record of E10.
**Q36.** 2 distinct legal entities: E02 and E04. E03 is a duplicate record of E02.
**Q37.** 511 distinct entities. There are 540 records, and the duplicates are linked by sameEntityAs.
**Q38.** No. E06 and E13 are not linked by sameEntityAs and differ in domicile (DE and US).
**Q39.** A. E03 carries A09 (A, 2025-09-15), and E02 and E03 are the same entity.
**Q40.** 79.
**Q41.** BB+ (A44).
**Q42.** LU.
**Q43.** 1.
**Q44.** Yes. I07 has localCurrency = true.
**Q45.** No. It is rated BBB- (A45). Its flag marks it as local currency, so the ceiling does not cap it.
**Q46.** No. E11 only has a Credit opinion (A46), which is not an issuer rating.
**Q47.** None. I08 only has an Expected rating (A47), so it is unrated.
**Q48.** 113 instruments.
**Q49.** E5001.
**Q50.** 7 levels. E5047 has 7 ancestors.
**Q51.** 58 entities.
**Q52.** 19 entities. E5168 is a duplicate record of E5062, so it is not counted separately.
**Q53.** Depends. E5062 (Belir Mining) is linked to E5168, whose parent is Rotam (E5086), but both records resolve to ultimate parent E5059 (Belir Group).
**Q54.** E5106 and E5169 are domiciled in VD.
**Q55.** 31 rated entities have an ancestor domiciled in VD.
**Q56.** BB-. E5144 is the lowest current foreign-currency rating in the Vesol group.
**Q57.** E5002. It is the nearest entity in both chains (E5011 via E5005, E5013 via E5006).
**Q58.** E5145. It guarantees I5007, issued by E5133, which is in the Vesol group.
**Q59.** 10 entities sit three levels below E5001 (E5013 to E5022).
**Q60.** The risk is E5145, and no, it is not in the issuer's group. The issuer E5133 is in the Vesol group, while E5145 is its own ultimate parent.
**Q61.** 19 members hold a foreign-currency rating below investment grade; the top, E5001, has no rating.

```json
{"Q1":{"rating":"A-"},"Q2":{"downgraded":"no"},"Q3":{"investment_grade":"no","rating":"BB+"},"Q4":{"outlook":"Positive"},"Q5":{"risk_of":"E02","rating":"A"},
"Q7":{"issuers":["E1285","E1300","E1151","E1167","E1080","E5113","E1051","E10","E1034","E1347","E1343","E1290","E1350","E1341","E1229","E1342","E5097","E1351","E5059","E1255","E1340","E16","E1186","E1161","E1263","E1058","E1349","E1112","E08","E5116","E1170","E1344","E1228","E1163","E1243","E5033","E1299","E5019","E1053","E1348","E1213","E1346","E1159","E1057","E1345","E1064","E1294","E1093","E1144","E1307","E5156"]},
"Q8":{"entities":["E08"]},"Q9":{"count":377},"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":["E1203","E1314","E1194","E1210","E1260","E1133","E1146","E1242","E1066","E1168","E1297","E1109","E1061","E1132","E1088","E06","E1098","E1266","E1006","E1267","E1037","E1013","E1317","E1181","E1323","E1059","E1099","E1238","E1264","E1039","E1126","E1019"]},
"Q19":{"issuers":["E1300","E5099","E1080","E1105","E5113","E1034","E1118","E1056","E1064","E1055","E5097","E1046","E5059","E5020","E1161","E1263","E1282","E01","E5131","E5023","E5141","E5116","E09","E1271","E5039","E5102","E1228","E1060","E5073","E5033","E1079","E5019","E5050","E5062","E1072","E1190","E1005","E1248","E5057","E1294","E1188","E5119","E1029","E5013","E1262","E1158","E5156","E1211"]},
"Q20":{"in_default":"no"},
"Q21":{"entities":["E1084","E1032","E1234","E1219","E1107","E1244","E1172","E1347","E1062","E1343","E1350","E1345","E1341","E1349","E1155","E1166","E1342","E1200","E1351","E1277","E1124","E1340","E1076","E1138","E16","E1348","E1041","E1159","E1140","E1346","E1002","E1344","E1121","E1308","E1007","E1316","E07","E1206","E1225","E1057","E1205","E1320","E1063","E1233","E1254","E5170","E1218","E1048","E1021"]},
"Q22":{"entities":["E08"]},"Q23":{"rating":"F2"},"Q24":{"investment_grade":"yes"},"Q25":{"count":72},"Q26":{"rating":"A+"},"Q27":{"rating":"A-"},"Q28":{"rating":"BBB+"},"Q29":{"rating":"none"},
"Q30":{"entities":["E1194","E15","E5116","E1039","E5124","E1236","E1126","E05","E5047","E1028","E1101","E5091","E5012"]},
"Q31":{"any":"no"},"Q32":{"parent":"E09"},"Q33":{"risk_of":"E10","rating":"BBB+"},"Q34":{"same_group":"no"},"Q35":{"count":3},"Q36":{"count":2},"Q37":{"count":511},"Q38":{"same":"no"},"Q39":{"rating":"A"},"Q40":{"count":79},"Q41":{"rating":"BB+"},"Q42":{"country":"LU"},"Q43":{"count":1},"Q44":{"local_currency":"yes"},"Q45":{"above_ceiling":"no"},"Q46":{"issuer_rating":"no"},"Q47":{"rating":"none"},"Q48":{"count":113},"Q49":{"parent":"E5001"},"Q50":{"count":7},"Q51":{"count":58},"Q52":{"count":19},"Q53":{"same_group":"depends"},"Q54":{"entities":["E5106","E5169"]},"Q55":{"count":31},"Q56":{"rating":"BB-"},"Q57":{"entity":"E5002"},"Q58":{"entities":["E5145"]},"Q59":{"count":10},"Q60":{"risk_of":"E5145","same_group":"no"},"Q61":{"count":19}}
```