Anglian Water Investor Presentation
Interest Coverage (x)
3.5
3.0
Covenants and credit metrics
Interest cover covenants
3.1
2.7
2.4
2.8
2.8
2.5
2.6
2.6
100%
95%
3.2
3.2
3.1
3.0
3.0
90%
2.0
1.9
1.9
1.9
1.7
1.8
1.6
1.7
1.6
1.5
1.5
1.5
1.4
1.5
1.6
1.6
1.6
1.5
1.5
1.4
1.4
1.4
1.3
1.3
1.3
1.3
1.0
0.5
FY 14/15 H1 15/16 FY 15/16 H1 16/17 FY 16/17 H1 17/18 FY 17/18 H1 18/19 FY 18/19 H1 19/20 FY 19/20 H1 20/21
AWS Conformed Senior PMICR (1.1x)
AWS Conformed Class A PMICR (1.3x)
OAL Senior ICR (2.0x)
Gearing (%)
89%
Gearing covenants
85%
85%
85%
80%
83%
80%
79%
75%
72%
70%
68%
65%
68%
60%
55%
AMP6
86%
87%
83%
82%
82%
78%
- 72%
72%
69%
50%
FY 13/14
FY 14/15 H1 15/16 FY 15/16
H1 16/17
AWS Senior RAR (85%)
H1 17/18 FY 17/18
AWS Class A RAR (75%)
H1 18/19
FY 18/19
H1 19/20
FY 19/20
H1 20/21
OAL Senior RAR (93%)
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