At 31 December 2015, the group’s US dollar and Euro net assets were approximately 83% and 90% respectively hedged by foreign currency loans (2014: US dollar 78%, Euro 74%). As at 31 December 2015, net debt held in US dollar and Euro and in those currencies officially pegged to these two currencies, equated broadly to a ratio of 2.5 times EBITDA generated from these currencies (2014: 2.3 times EBITDA).