Debt service cover ratios are often used to calculate sculpted debt repayment profiles. A debt service coverage ratio is just simply the cashflow divided by the expected debt service. And from that, we derive a ratio and we test it against a minimum value. We could go the other way round. We could start with the cash flows and then work out, given the minimum ratio, what is the maximum amount of debt repayment that we could afford to make. In this way, we can actually work out what the debt capacity of a project is based on its cashflow, and we can also sculpt the repayments, so they go up or down depending on the cashflow involved. If we want to stay within a minimum debt service cover ratio, we could say what is our remaining cash? So our operating cash before any debt service divided by the minimum debt service cover ratio. That would give us the maximum level of debt that we can afford to repay. We deduct the interest of that, and then the remainder will then be debt principle payments. This is particularly useful when the cash flows in a project fluctuate and are uneven from one period to another. We can simply sculpt the debt repayments so that they rise when the cashflow is higher and they fall when the cash flow is lower. We can either work out what the debt repayment amounts are on an amortizing basis, let's say repay a piece of debt over a 10 year period and then see if that's okay and if we breach the minimum debt service cover ratio or not, or we can go the other way around. Work out a sculpted debt repayment profile, which will always be at least at the minimum debt service cover ratio level.