117 CONSOLIDATED FINANCIAL STATEMENTS 2025 Barbados Public Workers’ Co-operative Credit Union Limited Notes to the Consolidated Financial Statements March 31, 2025 (expressed in Barbados dollars) 79 25 Financial Risk Management …continued 25.2 Credit risk …continued Credit Quality Analysis…continued 2025 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 *** – – 15,982,626 15,982,626 Not rated Barbados Port Inc. 21,764,500 – – 21,764,500 Moody’s Default (Caa1): Central Bank of Barbados - Bonds & T Bills 2,276,485 – 464,602 2,741,087 Gross sovereign debt securities 24,040,985 – 16,447,228 40,488,213 2024 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 *** Not rated – – 17,613,511 17,613,511 Barbados Port Inc. 20,593,339 – – 20,593,339 Moody’s Default (Caa1): Central Bank of Barbados - Bonds & T Bills 7,452,537 – 257,550 7,710,087 Gross sovereign debt securities 28,045,876 – 17,871,061 45,916,937 *** During the financial year ended March 31, 2025, the credit rating of the Government of Barbados series B & D bonds as per Standard & Poor’s was B (positive) (2024: B- (stable).
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