FCF = EBITDA?

CFA Level II Fixed Income
#1

Hi everybody, I just starts my revision this week, and start from Fixed Income, hope it is not too late.

I have a question, from the example on p.145 of Kaplan Schweser Level 2 Book 4, Fixed Income Study Session 14 , when calculating FCF/debt, why use the data of EBITA as FCF?

Hope some one can help, thx.

#2

Is this a wind up?

#3

he probably meant that he just started haha

#4

just start my studies, I am a retaker.

#5

good luck

#6

Thx a lot.