4Q and FY 2023 Investor Presentation
Debt Leverage and Interest Coverage in
North America and Europe¹
Credit Metrics: North American Speculative Grade Companies
Coverage
Debt/EBITDA
6.0x
4.5x
4.3x
4.4x
EBITDA / Interest Expense
5.7x
5.0x
5.1x
5.1x
5.2x
5.2x
5.3x
5.3x
5.2x
5.2x
4.6x
4.8x
4.0x
3.2x
2.7x
2.9x
3.0x
3.0x
3.0x
3.0x
2.9x
3.0x
3.0x
2.9x
2.9x
2.7x
2.7x
2.4x
2.0x
0.0x
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
Credit Metrics: EMEA Speculative Grade Companies
Coverage
0.0x
2009
Debt/ EBITDA
EBITDA / Interest Expense
5.9x
5.7x
5.6x
5.5x
5.2x
5.2x
6.0x
4.8x
4.8x
4.5x
4.6x
4.5x
4.5x
4.6x
4.1x
4.2x
4.0x
3.6x
3.7x
3.5x
3.3x
3.4x
3.3x
3.1x
3.4x
3.2x
2.9x
3.0x
3.1x
3.3x
2.9x
2.8x
2.0x
Moody's |
Source: Moody's Investors Service.
Note: Credit metrics are medians and historical figures may change due to timing differences in issuer reporting. Debt figures refer to gross debt.
Data as of February 29, 2024.
1.
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
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4Q and FY 2023 Investor Presentation
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