The loan has a Fitch-stressed debt service coverage ratio (DSCR) and loan-to-value (LTV) of 1.51x and 63.1%, respectively, compared to 1.22x and 78.3% at issuance, inclusive of an
amortization factor of 75%.
* Estimate the total increase in the ARC (i.e., both the recovery of the missing contribution and related interest) by dividing the liability for underfunding by the actuary's
amortization factor (which reflects both the period over which the recovery is being amortized and the discount rate assumption):
The loan has a Fitch LTV of 83.2% and a Fitch DSCR of 1.15x, inclusive of an
amortization factor of 75%.
Sample floor plans, photos of clinic spaces,
amortization factors, and indices to adjust construction and operating costs, are provided in appendices.