---
title: "Debt service coverage ratio (DSCR) — Class A Atlas glossary"
description: "NOI divided by annual debt service."
canonical: https://classa.info/glossary/dscr
pageType: glossary
lastUpdated: 2026-04-01T00:00:00.000Z
license: "CC BY 4.0 with attribution to Class A Atlas (https://classa.info)."
---

> NOI divided by annual debt service.

## TL;DR

- NOI divided by annual debt service.
- Lender minimum: 1.20x for stabilised Class A; 1.40x for core.

# Debt service coverage ratio (DSCR)

*Finance · Global*

## Short definition

NOI divided by annual debt service.

## Full definition

Lender minimum: 1.20x for stabilised [Class A](/glossary/class-a); 1.40x for core. Drives cap-rate-vs-coupon math during rate-up cycles. Many 2024 Class A refis required equity injections to meet DSCR.

## Why this matters for Class A leasing

Debt service coverage ratio (DSCR) is part of the finance vocabulary that institutional Class A occupiers, landlords, and advisers use across Global markets. Understanding it correctly affects how you read lease documents, model occupancy economics, and benchmark deal terms across cities. Class A Atlas tracks regional variation alongside the global standard so [cross-border](/topics/cross-border-expansion) occupiers can translate quickly.

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Citation: Source: Class A Atlas (https://classa.info/glossary/dscr), updated 2026-04-01T00:00:00.000Z.