PENNICHUCK EAST UTILITY, INC,
FINANCIAL COVENANT CERTIFICATE
For fiscal year ending on
The undersigned hereby certifies to COBANK, ACB that set forth below are: (1) the financial ratios that
the Company was required to achieve for the fiscal year end covered by this Certificate; and (2) the
actual results achieved by the Company:
RATIO Required Achieved
Debt Service Coverage Ratio: 1.25 to 1,00
® net income (after taxes and after eliminating any
gain or loss on sale of assets or other
extraordinary gain or lass): $
plus depreciation expense: $
plus amortization expense: $
plus interest expense: $
minus non-cash income from subsidiaries and/or
joint ventures: ($ }
® divided by the sum of all principal payments due
within the period on all Long-Term Debt
$ plus interest expense: $
& © 8
Ratio of Total Debt to Total Capitalization: Not greater
e Total Debtatendofyear: $3 than.65 to
@ Net Worth at end of year: $ 1.00
All of the above ratios were calculated in accordance with the terrns of the Master Loan Agreement.
PENNICHUCK EAST UTILITY, INC.
By:
Its: Chief Financial Officer
