Earnings before Interests, Tax and Depreciation representing Operating cash flow of the company calculated based on Income statement, but not taking into account changes in Working capital (trade Receivables, Payables and Stocks). This value describes ability of the Company to generate cash directly from its operations, which is a key factor for ability of the Borrower to repay its Debts. So, in relation of Debt/EBITDA, we come to assumption like in how many years, the Borrower will be able to fully repay the loans and other Debts. For instance, if the loan was originally provided for period of 5 years and calculated ratio Debt/EBITDA equals to 7.0x, this is an early signal that generated Cash-flow has decreased below originally anticipated level and the Borrower will not be able to meet the final maturity in agreed period of 5 years. Alternatively, we may calculate DSCR to assess if the annual instalments will be sufficiently covered from Cash-flow.