Transmission through optical fibers offers ultra-fast and long-haul communications. However, the search for its ultimate capacity limits in the presence of distributed amplifier noise is complicated by the competition between wave dispersion and non-linearity. In this paper, we exploit the integrability of the Nonlinear Schr\"{o}dinger Equation, which accurately models optical fiber communications, to derive an expression for the spectral efficiency of an optical fiber communications channel, expressed fully in the scattering data domain of the Non-linear Fourier Transform and valid in the limit of low amplifier noise. We utilize the relationship between the derived noise-covariance operator and the Jacobian of the mapping between the signal and the scattering data to obtain the properties of the former. Emerging from the structure of the covariance operator is the significance of the Gordon-Haus effect in moderating and finally reversing the increase of the spectral efficiency with power. This effect is showcased in numerical simulations for Gaussian input in the high-bandwidth regime.
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