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CDSBench
Republic of Marovia · Sovereign · Restructuring · 2024-11-04

Republic of Marovia 2024

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

Republic of Marovia experienced a restructuring credit event in 2024. The record contains the terms of the USD 2039 Notes, a Determinations Committee notice.

Timeline

What happened, when

  1. 2021-11-04Notes issued.
  2. 2024-11-04Credit event determined.
Instruments

Obligations in scope

InstrumentIssuerIdentifiersCurrencyMaturitySeniorityQuestions
USD 2039 NotesRepublic of MaroviaISIN XS1000079190USD2039-11-04Senior10
Key question · #109 · 4 of 4 models missed
Does the record contain enough evidence to reach a reliable deliverability conclusion without further documents?
Claude GPT Gemini Mastermind
Key question · #108 · 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
Key question · #100 · 1 of 4 models missed
What is the maturity date of the instrument? Answer as YYYY-MM-DD.
Claude GPT Gemini Mastermind
Case Replays

Every benchmark question and how each model did

#QuestionLevelVerifiedClaudeGPTGeminiMastermind
100What is the maturity date of the instrument? Answer as YYYY-MM-DD.Fact extraction2039-11-04deterministically verified✓✓✕✓
101In which currency is the instrument denominated? Answer with the ISO currency code.Fact extractionUSDdeterministically verified✓✓✓✓
102Does the instrument's maturity satisfy a maximum maturity of 30 years measured from the cr…Rule applicationYesdeterministically verified✓✓✓✓
103Is the instrument denominated in a Specified Currency (USD, EUR, JPY, GBP, CHF, CAD)?Rule applicationYesdeterministically verified✓✓✓✓
104Is the instrument subordinated?Rule applicationNodeterministically verified✓✓✓✓
105Is the instrument transferable without the consent of the Issuer?Document interpretationYesdeterministically verified✓✓✓✓
106Applying the standard Deliverable Obligation Characteristics (Not Subordinated, Specified …DeliverabilityReviewdeterministically verified✓✓✓✓
107Is the issuer of the instrument the Reference Entity or a recognised successor of it accor…Rule applicationYesdeterministically verified✓✓✓✓
108Which section of the record establishes the seniority (ranking) of the instrument? Answer …Fact extractionDOC-1#S4deterministically verified✓✕✕✓
109Does the record contain enough evidence to reach a reliable deliverability conclusion with…UncertaintyNodeterministically verified✕✕✕✕
Public documents

The record

  • DOC-1 USD 2039 Notes — Terms and Conditions (excerpt)
  • DOC-2 Determinations Committee notice — Republic of Marovia
Related cases

Precedents by structure, not by keyword

  • 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 Sanderia 2024 (B)Review
    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.
  • 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: sovereign; Similar documentation language
    Important difference
    Facts may still differ in the specific documents; do not copy the outcome.