112 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Barbados Public Workers’ Co-operative Credit Union Limited Notes to the Consolidated Financial Statements March 31, 2026 (expressed in Barbados dollars) 80 24 Financial Risk Management …continued 24.2 Credit risk …continued Credit Quality Analysis…continued 2026 Stage 1 $ Stage 2 $ POCI $ Total $ Sovereign debt securities measured at amortised cost Standard & Poor’s rating: (B) Government of Barbados – – 14,600,389 14,600,389 - series B & D bonds *** - BOSS Bonds Plus 40,000,000 – – 40,000,000 - Queen Elizabeth Hospital (QEH) 12,857,143 – – 12,857,143 Not rated Barbados Port Inc. Moody’s Default (B2): 13,400,000 – – 13,400,000 Central Bank of Barbados - Bonds & T Bills 471,806 – 221,243 693,049 Gross sovereign debt securities 66,728,949 – 14,821,632 81,550,581 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 *** – – 15,956,451 15,956,451 - BOSS Bonds Plus 10,000,000 – – 10,000,000 Not rated Barbados Port Inc. 11,764,500 – – 11,764,500 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 40,462,038 *** During the financial year ended March 31, 2026, the credit rating of the Government of Barbados series B & D bonds as per Standard & Poor’s was B+ Stable (2025: B- (positive).
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