AGL Future Earnings, page-312

Christos you have no idea what you are talking about.

Ok yes lets look at the AGL financial statements:

Go to page 34:
4.2.1 Reconciliation of Underlying EBITDA to cash movement

Underlying EBITDA: $1,666m
Operating cash flow before significant items, interest and tax $1,606

EBITDA is approximating operating cash flow.

Most of the time it does approximate, and hence why EBITDA is used.

Next page 35:

Moody's has maintained their credit rating for AGL:
GL Energy maintained its credit rating of Baa2 throughout the period as provided by Moody’s Investors Service. Key metrics consistent with this
credit rating at 30 June 2021:
• Interest cover: 9.0 times
• Funds from operations to net debt: 30.7%
AGL Energy’s funds from operations has been calculated with a similar methodology to Moody’s whereby the movement in all current and
non-current tax assets and liabilities is treated as working capital.

Notice the formula's used by Moody's in their assessment of AGL's debt credit worthiness.