104 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Barbados Public Workers’ Co-operative Credit Union Limited Notes to the Separate Financial Statements March 31, 2025 (expressed in Barbados dollars) 72 23 Financial risk management …continued 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 Gross sovereign debt securities 21,764,500 – 15,982,626 37,747,126 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 – – 17,337,026 17,337,026 Barbados Port Inc. 15,159,737 – – 15,159,737 Gross sovereign debt securities 15,159,737 – 17,337,026 32,496,763 *** 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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