Define Before and After
Before is the same Model scenario with the selected refinancing case disabled, or all active cases disabled when comparing the total program. After is the current model. This is a temporary comparison, not a newly saved scenario or a frozen historical balance. Other assumptions stay the same, while dependent financing, interest and tax effects recalculate. An incomplete or inactive case cannot supply a meaningful executed comparison.
Distinguish flows and closing differences
Select a period and compare closing gross debt, cash, Net Debt, Available Liquidity, peak Required Funding and relevant credit ratios. Interest before/after is the interest flow within that period; forecast interest change sums the forecast flows. Cash impact and net-debt change compare closing balances. They are not sums of every prior cash difference. Period impacts & timeline displays maturities/replacement/gap beside the economic changes.
Read capacity and covenant effects
Replacement is assessed against the resulting total debt, after the source principal is repaid. It is not treated as entirely additional borrowing on top of debt that has already matured. Capacity warnings indicate a constrained or blocked financial ceiling but do not cancel the assumed transaction. Covenant effects compare matching test dates or the latest relevant tests and show more/less headroom and breach status. Review the configured basis and thresholds before interpreting the change.
Inspect one case rather than mixing contexts
Choose a case, maturity or gap to inspect source debt, settlement date, amount due, replacement terms, fees and comment. Funding & cash reconciles sources; Period impact shows interest/cash/net-debt changes and credit ratios; Terms & comment retains the entered conditions. Go to source opens Financing, the case or Capacity. A pinned Inspector keeps its case/scenario/period identity while updating live values.
Explore assumptions without confusing execution
Available numeric outputs such as Refinancing Gap and cash/interest changes can be selected in Analyze. Supported assumptions include replacement amount, designated cash, equity, fees, rate, amortization and commitment. Dates and new-maturity labels are not generic continuous numeric variables. Temporary analysis leaves saved financing unchanged; a supported Apply solution is a separate deliberate write to the selected assumptions.
Documents the current implemented behavior. Numerical examples are synthetic, not market assumptions.