There was some confusion in Azerenergy about the correct approach to use in calculating the debt - equity ratio and the DSCR (debt service coverage ratio). Financial ratios should be defined in loan covenants, particularly if they form part of the financial covenants of the loan. Moreover, ADB should more closely review these covenants during review missions to evaluate - and if needed initiate measures to ensure - compliance.
Project Name
Power Transmission Enhancement Project
Project Number
42085-013
Report Date
Report Source
Self-evaluation
Country