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What is Understanding Debt Covenants Explained about?

Debt covenants are restrictions imposed by lenders on borrowers to limit their actions and align interests, ultimately protecting lenders and potentially lowering borrowing costs for borrowers. They can be categorized as positive or negative covenants, detailing what borrowers must do or cannot do, respectively. Violating these covenants can lead to penalties, increased interest rates, or even loan termination.

Author

Mary T. Scott

Language

EN