Structural enhancements of the instruments allow for a single-notch uplift from AT's Long-Term IDR, and include security ring-fencing protections and prudent covenants, namely debt to net present value and debt service coverage ratios
Median adjusted loan-to-values in September have remained at approximately 60%, while median debt service coverage ratios
have increased to 1.42.
Estimated cash flows generate high debt service coverage ratios
Average debt service coverage ratios
for loans originated during 2013 were on par with 2005 levels, but remained well above those seen in 2007, according to the latest research from CBRE Group, Inc.
Given that the existing exchange rate for the rupee as compared to the dollar is around 15% below where it was on 31 March, if the firms' total reported debt increases due to forex moves, their fiscal covenant cushion is expected to fall, especially with respect to interest coverage and debt service coverage ratios
, as their interest costs would rise as well.
The key triggers are monthly and quarterly Debt Service Coverage Ratios
(DSCRs) that must be above four and six times respectively, based on a tested collections amount that is defined as the sum of Non-Turkish Flows plus the lesser of a) 25% of Turkish Collections and b) 17.6% of Non- Turkish Collections.
Debt service coverage ratios
(DSCRs) remained solid, ranging from 1.2 to 1.4, with a median DSCR of 1.3.
"The reaffirmation is premised on the plantations' performance, which has fallen within our expectations, as well as loan-to-value (LTV) ratios and debt service coverage ratios
(DSCRs) that commensurate with their respective ratings.
Also of note are annual changes in rents, staffing ratios and labor costs, other key cost items (raw food costs, management fees), and key financial performance indicators (operating margins, debt service coverage ratios
, and current return on investment).
Guggenheim Loan Services, the loan servicer for the project reported debt service coverage ratios
(DSCR) based on the trailing 12 months (TTM) average were 2.11x at May 2018, 1.95x at December 2017 and 1.96x at December 2016.
Solid debt service coverage ratios
: under a Moody's base case scenario
The amendments, covering the pension funding requirement and the leverage and debt service coverage ratios
, provide the company with additional flexibility.