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 loss): $
plus depreciation expense: §
plus amortization expense: $
plus interest expense: $
minus non-cash income from subsidiaries and/or
joint ventures: ($ )
e divided by the sum of: all principal payments due
within the period on all Long-Term Debt
§ plus interest expense: $
Ratio of Total Debt to Total Capitalization: Not greater
e Total Debt atendofyear: $ than.65 to
e Net Worthatendofyear: §$ 1.00
All of the above ratios were calculated in accordance with the terms of the Master Loan Agreement.
PENNICHUCK EAST UTILITY, INC.
By:
Its: Chief Financial Officer
