How much can the firm borrow?
Calculate debt capacity.
Try the numbers
The fields start with the article’s example. Change a value to see CFADS, DSCR and safe debt capacity update together.
Equal-principal capacity uses the conservative first-year load: interest + 1/tenor. Amounts are million TL, as in the article.
CFO note
Treat the output as a decision aid, not a credit approval. Compare it with covenants, liquidity and the firm’s actual cash generation.
Stress test
Re-run the model with a weaker operating path: lower receipts, higher rates, or a sharper FX move.
Academic note
The formulas follow standard corporate-finance identities used in the related article. They do not replace a full credit file.