105 SEPARATE FINANCIAL STATEMENTS 2024 Barbados Public Workers’ Co-operative Credit Union Limited Notes to the Separate Financial Statements March 31, 2024 (expressed in Barbados dollars) 71 23 Financial risk management …continued Credit risk …continued Credit Quality Analysis …continued 2023 Stage 1 $ Stage 2 $ POCI $ Total $ Sovereign debt securities measured at amortised cost Standard & Poor’s rating: B Government of Barbados - series B & D bonds *** – – 14,702,065 14,702,065 Not rated Barbados Port Inc. 6,986,992 – – 6,986,992 Gross sovereign debt securities 6,986,992 – 14,702,065 21,689,057 Expected credit losses allowance (3,147) – – (3,147) Interest receivable 4,509 – – 4,509 Net sovereign debt securities 6,988,354 – 14,702,065 21,690,419 *** During the financial year ended March 31, 2024, the credit rating of the Government of Barbados series B & D bonds as per Standard & Poor’s was B- (stable) (2023: B- (stable)).
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