98 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Barbados Public Workers’ Co-operative Credit Union Limited Notes to the Separate Financial Statements March 31, 2026 (expressed in Barbados dollars) 73 23 Financial risk management …continued Credit risk …continued Credit Quality Analysis …continued 2026 Stage 1 $ Stage 2 $ POCI $ Total $ Debt securities measured at amortised cost Standard & Poor’s rating: B Government of Barbados - series B & D bonds *** – – 14,600,389 14,600,389 Not rated Bonds & Securities 91,686,107 – – 91,686,107 Gross sovereign debt securities 91,686,107 – 14,600,389 106,286,496 2025 Stage 1 $ Stage 2 $ POCI $ Total $ 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 Bonds & Securities 49,325,002 – – 49,325,002 Gross sovereign debt securities 49,325,002 – 15,982,626 65,307,628 *** 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- with a positive outlook).
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