50% and is secured by the company's vessel, with a cash flow coverage ratio
The additional bonds test requires a cash flow coverage ratio
of at least 1.
The master indenture requires a cash flow coverage ratio
of at least 1.
5 times (x) debt to operating cash flow coverage ratio
limit through Dec.
In Fitch's opinion, under a reasonable range of stress scenarios, Marsh's cash flow coverage ratio
- measured as pretax earnings before interest, depreciation and amortization expense (EBITDA) relative to total interest costs - will likely to drop to within a range of 4-8 times (x) in the foreseeable future.
Overall, Fitch's 'B-' senior unsecured rating reflects the company's high debt balance relative to cash flow, modest cash flow coverage ratio
, significant working capital requirements, and current state level budgetary pressures.
Fitch acknowledges this improvement and expects that Aon will maintain its cash flow coverage ratio
in the 5.
Fitch's ratings reflect the company's high debt balance relative to cash flow, modest cash flow coverage ratio
, significant working capital requirements, as well as smaller size and overall weaker credit metrics compared to the other three major U.
The company's cash flow coverage ratios
, namely its CFO interest coverage and debt service coverage ratio declined to 2.
Finally, banks usually monitor cash flow, and will often prescribe cash flow coverage ratios
(for example, cash flow during any given period must be a minimum of X times interest, or Y times principal and interest).
credit-rating agency attributed the review to Yamaha's strong operating performance and also to an improvement in cash flow coverage ratios
, supported by the rapidly growing Asian market and its ongoing rationalization efforts.
The agency views the company's business risk profile as strong and its financial risk profile as minimal, despite some weakening in its cash flow coverage ratios
in fiscal 2010, which falls within expectations.