Debt Service Cover Ratio (DSCR)

1 The definition of the amended DSCR is as follows: Funds Generated from Internal Sources before interest Debt service requirements

(a)

Funds Generated from Internal Sources comprise net cash profits (as for SFR, above); (i) (ii) add back interest payable and other charges relating to debt; subtract interest receivable.

(b)

Debt service requirements comprise: (i) (ii) net interest payable: interest payable on long-term loans; excluding interest capitalised; including interest payable on short-term loans and bank overdrafts; plus other charges related to debt; less Interest receivable; excluding interest allocated to sinking funds. repayment of long-term loans; less loans received under refinancing arrangements; less decreases / plus increases in Sinking Funds for repayment of bonds, excluding short-term borrowings from Sinking Funds and excluding the repayment of any such short-term borrowings; less cash allocated from net proceeds from disposal of assets or other investments (as defined for SFR).

(iii)