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DSCR – Debt service coverage ratio

This tutorial focuses on the debt service coverage ratio (DSCR), which is widely used in project finance models. It is a debt metric used to analyse the project’s ability to repay debt periodically.

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Features of a cash flow waterfall in project finance

The cash flow waterfall ensures that each cash flow item occurs at the correct seniority to other items. This tutorial outlines key categories of cash flow items and how to present the cash flow waterfall in comparison to the cash flow statement in a project finance model.

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What is project finance?

Project finance is the financing of, often long-term, industrial projects and increasingly those which provide public services or infrastructure. They are often based upon complex financial and contractual structures commonly involving many legal entities.

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