openbb-tensorust 0.1.0__tar.gz

openbb_tensorust-0.1.0/.gitignore

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+__pycache__/
+*.py[cod]
+*.egg-info/
+.venv/
+dist/
+build/
+.pytest_cache/
+.mypy_cache/
+.ruff_cache/

openbb_tensorust-0.1.0/CHANGELOG.md

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+# Changelog
+
+## 0.1.0 (2026-11-15)
+
+First release.
+
+- OpenBB provider `tensorust` and router `obb.tensorust` with seven commands:
+  `bdc_loan_marks`, `credit_disagreements`, `credit_q3_cuts`, `contractor_credit`,
+  `contractor_watch`, `exposure_institution` and `idr_offer`.
+- Free previews without a key. `tensorust_api_key` (or `TENSORUST_API_KEY`) returns full records.
+- Summary fields (gap, totals, rule status counts, arbitrator table) are in
+  `OBBject.extra["results_metadata"]`.
+- Works with the Python interface, the OpenBB REST API (`openbb-api`) and OpenBB's MCP server.
+- Tested against openbb-core 1.6.9 and 2.0.1.

openbb_tensorust-0.1.0/LICENSE

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+MIT License
+
+Copyright (c) 2026 Matthew Busel
+
+Permission is hereby granted, free of charge, to any person obtaining a copy
+of this software and associated documentation files (the "Software"), to deal
+in the Software without restriction, including without limitation the rights
+to use, copy, modify, merge, publish, distribute, sublicense, and/or sell
+copies of the Software, and to permit persons to whom the Software is
+furnished to do so, subject to the following conditions:
+
+The above copyright notice and this permission notice shall be included in all
+copies or substantial portions of the Software.
+
+THE SOFTWARE IS PROVIDED "AS IS", WITHOUT WARRANTY OF ANY KIND, EXPRESS OR
+IMPLIED, INCLUDING BUT NOT LIMITED TO THE WARRANTIES OF MERCHANTABILITY,
+FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGEMENT. IN NO EVENT SHALL THE
+AUTHORS OR COPYRIGHT HOLDERS BE LIABLE FOR ANY CLAIM, DAMAGES OR OTHER
+LIABILITY, WHETHER IN AN ACTION OF CONTRACT, TORT OR OTHERWISE, ARISING FROM,
+OUT OF OR IN CONNECTION WITH THE SOFTWARE OR THE USE OR OTHER DEALINGS IN THE
+SOFTWARE.

openbb_tensorust-0.1.0/PKG-INFO

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+Metadata-Version: 2.5
+Name: openbb-tensorust
+Version: 0.1.0
+Summary: OpenBB extension for Tensorust data: BDC private credit loan marks, federal contractor credit, banned-vendor exposure in federal awards and No Surprises Act IDR offer bands.
+Project-URL: Homepage, https://tensorust.com
+Project-URL: Source, https://github.com/Mattbusel/openbb-tensorust
+Project-URL: Documentation, https://github.com/Mattbusel/openbb-tensorust/blob/main/docs/index.md
+Project-URL: Changelog, https://github.com/Mattbusel/openbb-tensorust/blob/main/CHANGELOG.md
+Project-URL: Workspace backend, https://shop.tensorust.com/api/openbb
+Author: Matthew Busel
+License-Expression: MIT
+License-File: LICENSE
+Keywords: bdc,federal-contracts,finance,loan-marks,no-surprises-act,openbb,private-credit,sanctions
+Classifier: Development Status :: 4 - Beta
+Classifier: Intended Audience :: Developers
+Classifier: Intended Audience :: Financial and Insurance Industry
+Classifier: Programming Language :: Python :: 3
+Classifier: Programming Language :: Python :: 3.10
+Classifier: Programming Language :: Python :: 3.11
+Classifier: Programming Language :: Python :: 3.12
+Classifier: Programming Language :: Python :: 3.13
+Classifier: Topic :: Office/Business :: Financial :: Investment
+Requires-Python: >=3.10
+Requires-Dist: openbb-core<3,>=1.6
+Requires-Dist: requests>=2.31
+Description-Content-Type: text/markdown
+
+# openbb-tensorust
+
+An [OpenBB Platform](https://github.com/OpenBB-finance/OpenBB) extension for
+[Tensorust](https://tensorust.com) data, built from US public records.
+
+```bash
+pip install openbb openbb-tensorust
+openbb-build   # once, so obb picks up the new commands
+```
+
+```python
+from openbb import obb
+
+obb.tensorust.credit_disagreements().to_df()            # loans BDC lenders mark 10+ points apart
+obb.tensorust.bdc_loan_marks(company="Pluralsight").to_df()
+obb.tensorust.credit_q3_cuts().to_df()                  # Q3 2026 markdowns as BDCs file
+obb.tensorust.contractor_credit(contractor="Peraton")
+obb.tensorust.contractor_watch(sort="q3").to_df()
+obb.tensorust.exposure_institution(institution="Harvard").to_df()
+obb.tensorust.idr_offer(code="99284", payer="uhc.com", state="TX")
+```
+
+| Command | Answers |
+|---|---|
+| `bdc_loan_marks` | What each BDC fund marks one company's first-lien loan at (SEC schedules of investments) |
+| `credit_disagreements` | Loans two or more BDC managers mark 10+ points apart |
+| `credit_q3_cuts` | Fund-level cuts of 5+ points from Jun 30 to Sep 30 2026, and who has not filed yet |
+| `contractor_credit` | A federal contractor's obligations, lender marks, headcount trend and stress signals |
+| `contractor_watch` | Federal contractors whose lenders are marking them down |
+| `exposure_institution` | Federal awards whose papers name vendors on the 1260H, Section 889, FCC Covered, UFLPA or BIOSECURE lists |
+| `idr_offer` | No Surprises Act federal IDR: provider win rate and the winning offer band by code, payer and state |
+
+No key is needed: every command answers a free preview (top 10 rows, or a summary).
+Set `obb.user.credentials.tensorust_api_key = "tdk_..."` (or `TENSORUST_API_KEY`) for full
+records. The same data loads in OpenBB Workspace as a custom backend:
+`https://shop.tensorust.com/api/openbb`.
+
+Docs: https://github.com/Mattbusel/openbb-tensorust/blob/main/docs/index.md

openbb_tensorust-0.1.0/docs/index.md

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+# openbb-tensorust
+
+OpenBB extension for [Tensorust](https://tensorust.com) data. Seven commands under
+`obb.tensorust`, served by the `tensorust` provider. Every command answers a free preview
+without a key; a Tensorust key returns full records.
+
+## Install
+
+```bash
+pip install openbb openbb-tensorust
+openbb-build        # regenerates the obb package so the new commands appear
+```
+
+Optional key (full records):
+
+```python
+from openbb import obb
+
+obb.user.credentials.tensorust_api_key = "tdk_..."
+```
+
+or `export TENSORUST_API_KEY=tdk_...`. Keys: https://shop.tensorust.com/offers/enterprise-api
+
+## Commands
+
+| Command | Parameters | Rows | Free preview | With a key |
+|---|---|---|---|---|
+| `bdc_loan_marks` | `company` | one per BDC fund holding the loan | up to 3 funds, mark only | every fund: par, prior-quarter mark, Sep 30 mark, filing link |
+| `credit_disagreements` | none | one per company marked 10+ points apart | top 10 | all |
+| `credit_q3_cuts` | none | one per fund cut of 5+ points, Jun 30 to Sep 30 2026 | top 10 | all, with each holder not filed yet (`pending_holders`) |
+| `contractor_credit` | `contractor` (name, UEI or EIN) | one | profile | adds every lender line, recipients, mark history |
+| `contractor_watch` | `sort`, `private_only`, `agency`, `state`, `signal` | one per stressed contractor | top 10 | all |
+| `exposure_institution` | `institution` (name or UEI) | one per award | 5 largest awards | every award with its evidence sentence and paper link |
+| `idr_offer` | `code`, `payer`, `state`, `entity`, `qpa` | one cell | win rate and offer band | quartiles, every arbitrator's loss rate and 2026 fee, expected value at your QPA (cells under 50 determinations are free in full) |
+
+Marks are fractions of par (`0.95` = 95% of par). Summary fields for each answer (the
+lowest and highest mark, totals by list, the arbitrator table, how to get the full record)
+are in `result.extra["results_metadata"]`.
+
+Not found is an `EmptyDataError` naming the closest matches (HTTP 204 from `openbb-api`).
+
+## Sources
+
+- **Private credit marks:** SEC Business Development Company data sets (XBRL schedules of
+  investments), first-lien term loans, fully funded, cost 85-110% of par; Sep 30 2026
+  marks from 10-Qs as filed.
+- **Contractor Credit:** the marks above joined to USAspending.gov recipients, SAM parent
+  UEI, DOL Form 5500 headcount, FCC and FAA records.
+- **Exposure Ledger:** Federal Register (DoD 1260H), FAR 52.204-25, FCC Covered List, DHS
+  UFLPA Entity List, BIOSECURE; evidence from Europe PMC, OpenAlex, Crossref, open-access
+  PDFs, ENA and dbGaP; dollars from USAspending and NIH RePORTER.
+- **IDR:** CMS Federal IDR Public Use File 2025 Q4, computed by Tensorust LLC (altered and
+  aggregated; not CMS data as published).
+
+## REST API and MCP
+
+`openbb-api` serves the commands at `/api/v1/tensorust/<command>?provider=tensorust`,
+and OpenBB's MCP server exposes them as tools like any other OpenBB command.
+
+## OpenBB Workspace
+
+The same data is available in OpenBB Workspace without installing anything: add a custom
+backend with the URL
+
+```
+https://shop.tensorust.com/api/openbb
+```
+
+It serves `widgets.json` (9 widgets: loan marks table and summary, disagreements, Q3 cuts,
+contractor profile and watchlist, exposure table and summary, IDR offer band) and
+`apps.json` (two apps: *Tensorust Private Credit* and *Tensorust Compliance and IDR*).
+Clicking a company in the disagreements or Q3 cuts table loads its marks; clicking a
+contractor in the watchlist loads its profile. For full records add the header
+`Authorization: Bearer tdk_...` to the backend connection.
+
+## How it works
+
+Each command makes one JSON-RPC `tools/call` to the public Tensorust MCP server
+(`https://shop.tensorust.com/api/mcp`, override with `TENSORUST_MCP_URL`). With a key it
+sends `full=true` and the bearer token. No other network calls, no telemetry.
+
+## Development
+
+```bash
+pip install -e . pytest pytest-asyncio httpx ruff mypy
+pytest tests/unit_tests          # no network
+pytest tests/integration_tests   # keyless calls to the public endpoint
+ruff format --check . && ruff check . && mypy openbb_tensorust
+```
+
+MIT licensed. Maintainer: Matthew Busel (mattbusel@tensorust.com).

openbb_tensorust-0.1.0/examples/contractor_and_compliance.py

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+"""Federal contractors on marked-down loans, an institution's banned-vendor exposure, and an IDR offer band.
+
+pip install openbb openbb-tensorust && openbb-build
+python examples/contractor_and_compliance.py
+"""
+
+from openbb import obb
+
+watch = obb.tensorust.contractor_watch(sort="q3", private_only=True).to_df()
+print(
+    watch[["operating_company", "state", "federal_exposure", "latest_mark", "q3_change_points"]]
+    .head()
+    .to_string(index=False)
+)
+
+one = obb.tensorust.contractor_credit(contractor=watch["uei"].iloc[0])
+print("\n" + (one.results[0].read or ""))
+
+awards = obb.tensorust.exposure_institution(institution="Johns Hopkins")
+meta = awards.extra["results_metadata"]
+print(
+    f"\n{meta['institution']}: {meta['awards']} awards, ${meta['fy25']:,.0f} FY25, {meta['in_force_awards']} bind now"
+)
+print(awards.to_df()[["award", "agency", "fy25_obligations", "lists", "attribution"]].to_string(index=False))
+
+idr = obb.tensorust.idr_offer(code="99284", payer="uhc.com", state="TX").results[0]
+band = f"{idr.offer_band_low_multiple}x to {idr.offer_band_high_multiple}x QPA"
+print(f"\nCPT 99284 / UHC / TX: providers win {idr.provider_win_rate_pct}%, offer {band}")

openbb_tensorust-0.1.0/examples/private_credit_screen.py

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+"""Screen BDC loans where lenders disagree, then pull each fund's mark for the widest gaps.
+
+pip install openbb openbb-tensorust && openbb-build
+python examples/private_credit_screen.py
+"""
+
+from openbb import obb
+
+gaps = obb.tensorust.credit_disagreements()
+print(gaps.extra["results_metadata"].get("access", "full records"))
+df = gaps.to_df()
+print(df[["company", "gap_points", "lowest_manager", "lowest_mark", "highest_manager", "highest_mark"]].head())
+
+for company in df["company"].head(3):
+    marks = obb.tensorust.bdc_loan_marks(company=company)
+    print(f"\n{company}: {marks.extra['results_metadata'].get('read', '')}")
+    print(marks.to_df()[["fund", "manager", "mark"]].to_string(index=False))
+
+cuts = obb.tensorust.credit_q3_cuts().to_df()
+print("\nBiggest Q3 2026 markdowns so far:")
+print(cuts[["company", "fund", "jun30_mark", "sep30_mark", "change_points"]].head().to_string(index=False))

openbb_tensorust-0.1.0/openbb_tensorust/__init__.py

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+"""OpenBB provider and router extension for Tensorust data.
+
+Private credit loan marks from SEC BDC filings, federal contractor credit,
+banned-vendor exposure in federal research awards, and No Surprises Act IDR
+offer bands. Free previews without a key; set ``tensorust_api_key`` (or the
+``TENSORUST_API_KEY`` environment variable) for full records.
+"""
+
+from openbb_core.provider.abstract.provider import Provider
+
+from openbb_tensorust.models.contractor import (
+    TensorustContractorCreditFetcher,
+    TensorustContractorWatchFetcher,
+)
+from openbb_tensorust.models.credit import (
+    TensorustBdcLoanMarksFetcher,
+    TensorustCreditDisagreementsFetcher,
+    TensorustCreditQ3CutsFetcher,
+)
+from openbb_tensorust.models.exposure import TensorustExposureInstitutionFetcher
+from openbb_tensorust.models.idr import TensorustIdrOfferFetcher
+
+__version__ = "0.1.0"
+
+tensorust_provider = Provider(
+    name="tensorust",
+    website="https://tensorust.com",
+    description=(
+        "Tensorust builds entity-level datasets from US public records: what BDC (private credit) "
+        "lenders mark each first-lien loan at, which federal contractors sit on marked-down loans, "
+        "which federal research awards pay for work by vendors on banned-vendor lists, and the "
+        "No Surprises Act IDR offer band by code, payer and state. Every command answers a free "
+        "preview without a key."
+    ),
+    credentials=["api_key"],
+    fetcher_dict={
+        "TensorustBdcLoanMarks": TensorustBdcLoanMarksFetcher,
+        "TensorustCreditDisagreements": TensorustCreditDisagreementsFetcher,
+        "TensorustCreditQ3Cuts": TensorustCreditQ3CutsFetcher,
+        "TensorustContractorCredit": TensorustContractorCreditFetcher,
+        "TensorustContractorWatch": TensorustContractorWatchFetcher,
+        "TensorustExposureInstitution": TensorustExposureInstitutionFetcher,
+        "TensorustIdrOffer": TensorustIdrOfferFetcher,
+    },
+    repr_name="Tensorust",
+    instructions=(
+        "No key is needed for previews. For full records set the credential tensorust_api_key "
+        "to a Tensorust enterprise key (tdk_...): https://shop.tensorust.com/offers/enterprise-api"
+    ),
+)
+
+__all__ = ["__version__", "tensorust_provider"]

openbb_tensorust-0.1.0/openbb_tensorust/client.py

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+"""Tensorust MCP client: one JSON-RPC ``tools/call`` per OpenBB command.
+
+Every fetcher in this package calls the public Tensorust MCP server
+(https://shop.tensorust.com/api/mcp). Without a key it answers free previews.
+With a Tensorust key (``tensorust_api_key`` in OpenBB credentials, or the
+``TENSORUST_API_KEY`` environment variable) the call asks for ``full=true``
+and the server returns full records.
+"""
+
+from __future__ import annotations
+
+import json
+import os
+from typing import Any
+
+import requests
+from openbb_core.app.model.abstract.error import OpenBBError
+from openbb_core.provider.utils.errors import EmptyDataError
+
+MCP_URL = "https://shop.tensorust.com/api/mcp"
+KEY_URL = "https://shop.tensorust.com/offers/enterprise-api"
+USER_AGENT = "openbb-tensorust"
+
+
+def mcp_url() -> str:
+    """Endpoint, overridable with TENSORUST_MCP_URL (tests, staging)."""
+    return os.environ.get("TENSORUST_MCP_URL", MCP_URL)
+
+
+def api_key(credentials: dict[str, str] | None) -> str | None:
+    """The Tensorust key from OpenBB credentials, else from the environment."""
+    key = (credentials or {}).get("tensorust_api_key") or os.environ.get("TENSORUST_API_KEY")
+    return key.strip() if key and key.strip() else None
+
+
+def call_tool(
+    name: str,
+    arguments: dict[str, Any],
+    credentials: dict[str, str] | None = None,
+    timeout: float = 60.0,
+) -> dict[str, Any]:
+    """Call one Tensorust MCP tool and return its JSON answer as a dict.
+
+    Adds ``full=true`` and the bearer key when a key is configured.
+    Raises OpenBBError on transport or tool errors.
+    """
+    key = api_key(credentials)
+    args = {k: v for k, v in arguments.items() if v is not None and v != ""}
+    headers = {
+        "content-type": "application/json",
+        "accept": "application/json",
+        "user-agent": USER_AGENT,
+    }
+    if key:
+        headers["authorization"] = f"Bearer {key}"
+        args["full"] = True
+    payload = {
+        "jsonrpc": "2.0",
+        "id": 1,
+        "method": "tools/call",
+        "params": {"name": name, "arguments": args},
+    }
+    try:
+        resp = requests.post(mcp_url(), json=payload, headers=headers, timeout=timeout)
+    except requests.RequestException as exc:  # pragma: no cover - network
+        raise OpenBBError(f"Tensorust request failed: {exc}") from exc
+    if resp.status_code != 200:
+        raise OpenBBError(f"Tensorust answered HTTP {resp.status_code}: {resp.text[:300]}")
+    body = resp.json()
+    if "error" in body:
+        raise OpenBBError(f"Tensorust error: {body['error'].get('message', body['error'])}")
+    result = body.get("result") or {}
+    text = "".join(c.get("text", "") for c in result.get("content", []) if c.get("type") == "text")
+    if result.get("isError"):
+        raise EmptyDataError(text or f"Tensorust tool {name} returned an error.")
+    try:
+        data = json.loads(text)
+    except json.JSONDecodeError as exc:
+        raise OpenBBError(f"Tensorust tool {name} returned non-JSON text: {text[:200]}") from exc
+    if not isinstance(data, dict):
+        raise OpenBBError(f"Tensorust tool {name} returned {type(data).__name__}, not an object.")
+    return data
+
+
+def not_found(data: dict[str, Any], what: str) -> EmptyDataError:
+    """EmptyDataError naming the closest matches the server suggested."""
+    similar = data.get("similar") or []
+    names = [s.get("name") if isinstance(s, dict) else str(s) for s in similar if s]
+    hint = f" Closest names: {', '.join(n for n in names if n)}." if names else ""
+    note = f" {data['note']}" if data.get("note") else ""
+    return EmptyDataError(f"No {what} matches '{data.get('query', '')}'.{note}{hint}")
+
+
+def access_note(data: dict[str, Any]) -> str | None:
+    """How to get the full answer, when this one is a preview (None when it is already full)."""
+    if data.get("access") in ("full", "key", "free"):
+        return None
+    scope = ""
+    for k in ("access", "full_data", "full"):
+        v = data.get(k)
+        if isinstance(v, str) and v.lower().startswith(("top ", "first ")):
+            scope = f" ({v.split(';')[0].strip()})"
+            break
+    is_preview = data.get("access") is not None or data.get("preview") is True or "full_data" in data
+    if not is_preview:
+        return None
+    return (
+        f"Free preview{scope}. For full records set obb.user.credentials.tensorust_api_key "
+        f"(or TENSORUST_API_KEY) to a Tensorust key: {KEY_URL}"
+    )

openbb_tensorust-0.1.0/openbb_tensorust/models/__init__.py

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+"""Tensorust provider models."""

openbb_tensorust-0.1.0/openbb_tensorust/models/contractor.py

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+"""Contractor Credit: federal contractors financed by BDC lenders, and how those lenders mark them.
+
+Sources: SEC BDC schedules of investments (Q3 2026 from 10-Qs as filed),
+USAspending.gov, SAM parent UEI, DOL Form 5500, FCC, FAA and county records.
+"""
+
+from __future__ import annotations
+
+from typing import Any, Literal
+
+from openbb_core.provider.abstract.annotated_result import AnnotatedResult
+from openbb_core.provider.abstract.data import Data
+from openbb_core.provider.abstract.fetcher import Fetcher
+from openbb_core.provider.abstract.query_params import QueryParams
+from pydantic import Field
+
+from openbb_tensorust.client import access_note, call_tool, not_found
+
+MARK = "Fraction of par (0.95 = 95% of par)."
+
+
+# ---- contractor_credit ----------------------------------------------------------------------
+
+
+class TensorustContractorCreditQueryParams(QueryParams):
+    """Contractor credit query."""
+
+    contractor: str = Field(description="Federal contractor name, 12-character UEI or 9-digit EIN.")
+
+
+class TensorustContractorCreditData(Data):
+    """One federal contractor's credit picture."""
+
+    operating_company: str = Field(description="Federal award recipient.")
+    uei: str | None = Field(default=None, description="SAM UEI of the recipient.")
+    state: str | None = Field(default=None, description="Recipient state.")
+    borrower: str | None = Field(default=None, description="Borrower name in BDC filings.")
+    sam_parent: str | None = Field(default=None, description="Parent reported to SAM.")
+    federal_obligations_fy2025_to_date: float | None = Field(default=None, description="USD.")
+    dod_fy2024_2026: float | None = Field(default=None, description="DoD obligations FY2024-26, USD.")
+    top_agency: str | None = Field(default=None, description="Agency with the most obligations.")
+    marks_as_of: str | None = Field(default=None, description="Quarter end of the BDC marks.")
+    lowest_mark: float | None = Field(default=None, description="Lowest Jun 30 BDC mark. " + MARK)
+    highest_mark: float | None = Field(default=None, description="Highest Jun 30 BDC mark. " + MARK)
+    sep30_lowest_mark: float | None = Field(default=None, description="Lowest Sep 30 2026 mark filed so far. " + MARK)
+    all_debt_mark: float | None = Field(
+        default=None, description="Par-weighted mark of every BDC debt line, latest quarter."
+    )
+    bdc_par: float | None = Field(default=None, description="BDC first-lien par, USD.")
+    headcount_change_pct: float | None = Field(default=None, description="Form 5500 participants, 2024 to 2025, %.")
+    signals: list[str] = Field(default_factory=list, description="Stress signals.")
+    market_priced: str | None = Field(default=None, description="Set when the credit is already market priced.")
+    read: str | None = Field(default=None, description="One-paragraph summary.")
+
+
+class TensorustContractorCreditFetcher(
+    Fetcher[TensorustContractorCreditQueryParams, list[TensorustContractorCreditData]]
+):
+    """contractor_credit: obligations, lender marks, headcount and signals for one contractor."""
+
+    require_credentials = False
+
+    @staticmethod
+    def transform_query(params: dict[str, Any]) -> TensorustContractorCreditQueryParams:
+        return TensorustContractorCreditQueryParams(**params)
+
+    @staticmethod
+    def extract_data(
+        query: TensorustContractorCreditQueryParams,
+        credentials: dict[str, str] | None,
+        **kwargs: Any,
+    ) -> dict[str, Any]:
+        return call_tool("contractor_credit", {"name": query.contractor}, credentials)
+
+    @staticmethod
+    def transform_data(
+        query: TensorustContractorCreditQueryParams, data: dict[str, Any], **kwargs: Any
+    ) -> AnnotatedResult[list[TensorustContractorCreditData]]:
+        if not data.get("found"):
+            raise not_found(data, "BDC-financed federal contractor")
+        op = data.get("operating_company") or {}
+        fed = data.get("federal") or {}
+        m = data.get("marks") or {}
+        hc = data.get("headcount") or {}
+        mp = data.get("market_priced") or {}
+        all_debt = m.get("all_debt_lines_latest") or {}
+        row = TensorustContractorCreditData(
+            operating_company=op.get("name") or query.contractor,
+            uei=op.get("uei"),
+            state=op.get("state"),
+            borrower=data.get("borrower"),
+            sam_parent=op.get("sam_parent_reported"),
+            federal_obligations_fy2025_to_date=fed.get("obligations_fy2025_to_date"),
+            dod_fy2024_2026=fed.get("dod_fy2024_2026"),
+            top_agency=fed.get("top_agency"),
+            marks_as_of=m.get("as_of"),
+            lowest_mark=m.get("lowest"),
+            highest_mark=m.get("highest"),
+            sep30_lowest_mark=m.get("q3_lowest"),
+            all_debt_mark=all_debt.get("mark"),
+            bdc_par=m.get("bdc_par"),
+            headcount_change_pct=hc.get("change_pct"),
+            signals=data.get("signals") or [],
+            market_priced=mp.get("kind"),
+            read=data.get("read"),
+        )
+        meta: dict[str, Any] = {
+            k: data[k]
+            for k in (
+                "federal",
+                "marks",
+                "headcount",
+                "footprint",
+                "subcontracts_fy2025_to_date",
+                "market_priced",
+                "agencies",
+                "sample_agencies",
+                "lenders",
+                "q3_pending_holders",
+                "recipients",
+                "mark_history",
+                "source",
+            )
+            if data.get(k) is not None
+        }
+        note = access_note(data)
+        if note:
+            meta["access"] = note
+        return AnnotatedResult(result=[row], metadata=meta)
+
+
+# ---- contractor_watch -----------------------------------------------------------------------
+
+
+class TensorustContractorWatchQueryParams(QueryParams):
+    """Stressed federal contractors query."""
+
+    sort: Literal["federal", "mark", "q3"] = Field(
+        default="federal",
+        description="federal: largest federal exposure first; mark: lowest mark first; q3: biggest Sep 30 cut first.",
+    )
+    private_only: bool = Field(default=False, description="Drop names with listed equity or a rated syndicated loan.")
+    agency: str | None = Field(default=None, description="Only contractors paid by this agency (substring).")
+    state: str | None = Field(default=None, description="Two-letter recipient state.")
+    signal: str | None = Field(
+        default=None,
+        description="One signal instead of the stress default, e.g. marked_below_80, lenders_10pt_apart, cut_5pt_q3.",
+    )
+
+
+class TensorustContractorWatchData(Data):
+    """A federal contractor whose BDC lenders are marking its loan down."""
+
+    operating_company: str = Field(description="Federal award recipient.")
+    borrower: str | None = Field(default=None, description="Borrower name in BDC filings.")
+    uei: str | None = Field(default=None, description="SAM UEI.")
+    state: str | None = Field(default=None, description="Recipient state.")
+    federal_exposure: float | None = Field(
+        default=None, description="Larger of FY2025-to-date and DoD FY2024-26 obligations, USD."
+    )
+    top_agency: str | None = Field(default=None, description="Agency with the most obligations.")
+    latest_mark: float | None = Field(default=None, description="Latest BDC mark. " + MARK)
+    q3_change_points: float | None = Field(default=None, description="Worst Jun 30 to Sep 30 move, points.")
+    managers: int | None = Field(default=None, description="BDC managers on the loan.")
+    bdc_par: float | None = Field(default=None, description="BDC first-lien par, USD.")
+    headcount_change_pct: float | None = Field(default=None, description="Form 5500 participants, 2024 to 2025, %.")
+    signals: list[str] = Field(default_factory=list, description="Stress signals.")
+    market_priced: str | None = Field(default=None, description="public or bsl when already market priced.")
+
+
+class TensorustContractorWatchFetcher(Fetcher[TensorustContractorWatchQueryParams, list[TensorustContractorWatchData]]):
+    """contractor_credit_watch. Free: top 10; with a key: every name."""
+
+    require_credentials = False
+
+    @staticmethod
+    def transform_query(params: dict[str, Any]) -> TensorustContractorWatchQueryParams:
+        return TensorustContractorWatchQueryParams(**params)
+
+    @staticmethod
+    def extract_data(
+        query: TensorustContractorWatchQueryParams,
+        credentials: dict[str, str] | None,
+        **kwargs: Any,
+    ) -> dict[str, Any]:
+        args: dict[str, Any] = {
+            "sort": query.sort,
+            "agency": query.agency,
+            "state": query.state,
+            "signal": query.signal,
+        }
+        if query.private_only:
+            args["private_only"] = True
+        return call_tool("contractor_credit_watch", args, credentials)
+
+    @staticmethod
+    def transform_data(
+        query: TensorustContractorWatchQueryParams, data: dict[str, Any], **kwargs: Any
+    ) -> AnnotatedResult[list[TensorustContractorWatchData]]:
+        fields = set(TensorustContractorWatchData.model_fields)
+        rows = []
+        for x in data.get("items") or []:
+            known = {k: v for k, v in x.items() if k in fields}
+            known["signals"] = x.get("signals") or []
+            extra = {k: v for k, v in x.items() if k not in fields and k != "key"}
+            rows.append(TensorustContractorWatchData(**known, **extra))
+        meta: dict[str, Any] = {
+            k: data[k] for k in ("marks_as_of", "q3_filers", "q3_last_filed", "count", "federal_exposure") if k in data
+        }
+        note = access_note(data)
+        if note:
+            meta["access"] = note
+        return AnnotatedResult(result=rows, metadata=meta)