---
title: "Debt-service coverage: what it means · The AI Compute Race · DRYBURGH"
source: https://dryburgh.com/vol1/glossary/debt-service-coverage
description: "Debt-service coverage: The ratio a rating agency rates a bond on, the cash available for its payments against the payments due."
---

# Debt-service coverage

What does “Debt-service coverage” mean?

Debt-service coverageThe ratio a rating agency rates a bond on, the cash available for its payments against the payments due. S&P rates Hyperion’s notes on it. The book’s rent cover is a different ratio. *Chapter 10.*

From *The AI Compute Race*. [Read the book](https://dryburgh.com/vol1#buy)

## Where the book uses it

- [Chapter 10 — The Lender’s Decision](https://dryburgh.com/vol1/notes/chapter-10)Who is lending the money and who bears the loss: the bonds, leases and guarantees behind the largest campuses, and how the paper reaches ordinary retirement accounts.

## Also discussed in

- Dated test [Chapter 14, the campus’s financing](https://dryburgh.com/vol1/tests#2029-3)

## Related terms

- [Rent cover](https://dryburgh.com/vol1/glossary/rent-cover)
- [Hyperion](https://dryburgh.com/vol1/glossary/hyperion)
- [Notes](https://dryburgh.com/vol1/glossary/notes)
- [10-K, 10-Q](https://dryburgh.com/vol1/glossary/10-k-10-q)
- [Backstop](https://dryburgh.com/vol1/glossary/backstop)
- [Basis point](https://dryburgh.com/vol1/glossary/basis-point)
- [Beignet](https://dryburgh.com/vol1/glossary/beignet)
- [Bridge loan](https://dryburgh.com/vol1/glossary/bridge-loan)
- [Convertible](https://dryburgh.com/vol1/glossary/convertible)
- [Coupon](https://dryburgh.com/vol1/glossary/coupon)
- [Covenant](https://dryburgh.com/vol1/glossary/covenant)
- [DDTL](https://dryburgh.com/vol1/glossary/ddtl)

From the glossary of The AI Compute Race.

- [Campuses](https://dryburgh.com/vol1/ledger)
- [Tests](https://dryburgh.com/vol1/tests)
- [Scorecard](https://dryburgh.com/vol1/scorecard)
- [Data](https://dryburgh.com/vol1/data/releases)
- [Chapter by chapter](https://dryburgh.com/vol1/companion)
- [The record at a glance](https://dryburgh.com/vol1/observatory)
- [The machine](https://dryburgh.com/vol1/machine)
- [One campus, four futures](https://dryburgh.com/vol1/hyperion)
- [Glossary](https://dryburgh.com/vol1/glossary)
- [People](https://dryburgh.com/vol1/people)
- [Sources](https://dryburgh.com/vol1/sources)
- [Notes](https://dryburgh.com/vol1/notes)
- [Where the book was wrong](https://dryburgh.com/vol1/corrections)
- [Where its sources were wrong](https://dryburgh.com/corrections?book=vol1)
- [The Paper](https://dryburgh.com/vol1/paper)
- [Consent](https://dryburgh.com/vol1/consent)
- [Who builds and pays](https://dryburgh.com/vol1/parties)

*The AI Compute Race: Five Races, One Machine* is a book by Lee S. Dryburgh, the first volume of THE COMPUTE ECONOMY, published by Dryburgh, an imprint of Contestra OÜ, Tallinn, Estonia; its record closes on 8 November 2026.

[About the book](https://dryburgh.com/vol1)[Tell me when it is out](https://dryburgh.com/vol1#notify)