Comcast Corporation reports the following information from the Management Discussion and Analysis section of its 2012 10-K.

a. The financial ratio to which Comcast refers is similar to those discussed in the section on credit ratings and the cost of debt. What effects might these ratios have on the degree of freedom that management has in running Comcast?

b. What pressures might management face if the company's ratios are near covenant limits?

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We and our Cable Communications subsidiaries that have provided guarantees are subject to the covenants and restrictions set forth in the indentures governing Comcast's public debt securities and in the credit agreements governing Comcast's and Comcast Cable Communications' credit facilities. NBCUniversal is subject to the covenants and restrictions set forth in the indentures governing its public debt securities and in the credit agreement governing its credit facility. We test for compliance with the covenants for each of our credit facilities on an ongoing basis. The only financial covenant in each of our credit facilities pertains to leverage, which is the ratio of debt to operating income before depreciation and amortization. As of December 31, 2012, we and NBCUniversal each met this financial covenant by a significant margin. Neither we nor NBCUniversal expect to have to reduce debt or improve operating results in order to continue to comply with this financial covenant.