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CDSBench
Federal Republic of Aurelia · Sovereign · Restructuring · 2028-05-13

Federal Republic of Aurelia 2028

publishedholdout split10 verified of 10 questions · 2 documents · 1 instruments

Federal Republic of Aurelia experienced a restructuring credit event in 2028. The record contains the terms of the CHF 2037 Notes, a Determinations Committee notice.

Timeline

What happened, when

  1. 2025-05-13Notes issued.
  2. 2028-05-13Credit event determined.
Instruments

Obligations in scope

InstrumentIssuerIdentifiersCurrencyMaturitySeniorityQuestions
CHF 2037 NotesFederal Republic of AureliaISIN XS1000031676CHF2037-05-13Senior10
Key question · #49 · 2 of 4 models missed
Which section of the record establishes the seniority (ranking) of the instrument? Answer with the section identifier (e…
Claude GPT Gemini Mastermind
Case Replays

Every benchmark question and how each model did

#QuestionLevelVerifiedClaudeGPTGeminiMastermind
41What is the maturity date of the instrument? Answer as YYYY-MM-DD.Fact extraction2037-05-13deterministically verified✓✓✓✓
42In which currency is the instrument denominated? Answer with the ISO currency code.Fact extractionCHFdeterministically verified✓✓✓✓
43Does the instrument's maturity satisfy a maximum maturity of 30 years measured from the cr…Rule applicationYesdeterministically verified✓✓✓✓
44Is the instrument denominated in a Specified Currency (USD, EUR, JPY, GBP, CHF, CAD)?Rule applicationYesdeterministically verified✓✓✓✓
45Is the instrument subordinated?Rule applicationNodeterministically verified✓✓✓✓
46Is the instrument transferable without the consent of the Issuer?Document interpretationNodeterministically verified✓✓✓✓
47Applying the standard Deliverable Obligation Characteristics (Not Subordinated, Specified …DeliverabilityIneligibledeterministically verified✓✓✓✓
48Is the issuer of the instrument the Reference Entity or a recognised successor of it accor…Rule applicationYesdeterministically verified✓✓✓✓
49Which section of the record establishes the seniority (ranking) of the instrument? Answer …Fact extractionDOC-1#S4deterministically verified✓✕✕✓
50Does the record contain enough evidence to reach a reliable deliverability conclusion with…UncertaintyYesdeterministically verified✓✓✓✓
Public documents

The record

  • DOC-1 CHF 2037 Notes — Terms and Conditions (excerpt)
  • DOC-2 Determinations Committee notice — Federal Republic of Aurelia
Related cases

Precedents by structure, not by keyword

  • Federal Republic of Aurelia 2027 (B)Ineligible
    Why relevant
    Same credit event type (RESTRUCTURING); Same entity type (SOVEREIGN); Has a verified deliverability outcome; Shared characteristics: transfer_restricted, sovereign; Similar documentation language
    Important difference
    Facts may still differ in the specific documents; do not copy the outcome.
  • Republic of Norland 2024Eligible
    Why relevant
    Same credit event type (RESTRUCTURING); Same entity type (SOVEREIGN); Has a verified deliverability outcome; Shared characteristics: sovereign; Similar documentation language
    Important difference
    Facts may still differ in the specific documents; do not copy the outcome.
  • Republic of Marovia 2024Review
    Why relevant
    Same credit event type (RESTRUCTURING); Same entity type (SOVEREIGN); Has a verified deliverability outcome; Shared characteristics: sovereign; Similar documentation language
    Important difference
    Facts may still differ in the specific documents; do not copy the outcome.
  • Republic of Norland 2027 (C)Eligible
    Why relevant
    Same credit event type (RESTRUCTURING); Same entity type (SOVEREIGN); Has a verified deliverability outcome; Shared characteristics: sovereign; Similar documentation language
    Important difference
    Facts may still differ in the specific documents; do not copy the outcome.