debt service


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Related to debt service: Debt Service Ratio, annual debt service

debt service

The periodic repayment of a loan, including both accrued interest and a portion of the principal.
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The increased borrowing today and greater debt service is a rational response to higher expected income in the future.
Forecasts for cash flows show gross coverage on FGR debt declining to 3x in fiscal 2010, the result of rising debt service costs outpacing projected user charge growth despite sizable rate increases.
Pledged SWRF revenue includes the extra capacity charge, penalties, and interest, and provides sound coverage of debt service.
Bondholders have a first lien on all pledged revenue and the city covenants to set the SWRF at a level sufficient to provide for debt service requirements.
This is an important credit factor since toll revenues need to outpace growing debt service requirements, which increase in graduated steps.
The trustees are required to confirm to the state budget and control board (governor, treasurer, comptroller general, chairman of the senate finance committee, and chairman of the house ways and means committee) not later than December 1st of each year that, based on the revenues for the previous fiscal year, fee revenues are projected to be sufficient to cover debt service in the following calendar year.
Projections show pledged revenues over the period where LDC would have to make both debt service and sinking fund payments are adequate to provide for coverage of both.
Under the normal flow of funds the bond indenture calls for monthly deposits of EBITDA to the trustee with debt service and sinking fund deposits, if required, made prior to release of funds to LDC.
In addition, access to the university's legally available revenues for debt service in the highly unlikely event that revenues from the residence halls are insufficient to meet annual debt service requirements is a positive.
While management has indicated that available airport liquidity could have been used to make the debt service payments, the decision to use the DSRF was made to preserve these balances for capital and other purposes.
Moreover, the inability of airport system net revenues to meet debt service on the senior bonds may indicate material weakening of the airport's overall financial position beyond which was disclosed by the authority during the last review conducted by Fitch during May 2006.