Kingmaker 2e encounter difficulty

[GMfroost]

So four -1 creatures (30xp each) would be 120 xp budget according to CRB, hence a severe encounter. What am I missing when the second combat in Kingmaker AP says it’s a moderate encounter (black tear cutthroats)?

[IcedMik]

A -1 creature is 2 levels below the players, so 20 XP each.