LLCR

LLCR

Loan Life Coverage RatioLLCR is a ratio commonly used in project finance. The ratio is defined as: Net Present Value of Cashflow Available for Debt Service ("CFADS") / Outstanding Debt in the period

NPV(CFADS) is measured only up until the maturity of the debt tranche.

The ratio gives an estimate of the credit quality of the project from a lender's perspective.

Related ratios are:
Project Life Coverage Ratio (PLRC) and Reserve Life Coverage Ratio (RLCR)

The ratio can range from 1.25 in a highly geared infrastructure investment to 2.5 or higher in an oil and gas transaction.


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