medium · Debt Capital Markets
Which adjustment to EBITDA is most likely to be scrutinized by a credit analyst as 'aggressive' in an incurrence ratio calculation?
- Adding back one-time legal settlements paid in cash.
- Add-backs for 'projected cost savings' that have not yet been implemented.
- Adding back cash interest expense paid during the period.
- Adding back non-cash depreciation and amortization expenses.
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