{"id":14980,"date":"2026-07-20T15:50:00","date_gmt":"2026-07-20T10:20:00","guid":{"rendered":"https:\/\/goldenpi.com\/blog\/?p=14980"},"modified":"2026-07-20T14:04:41","modified_gmt":"2026-07-20T08:34:41","slug":"bond-covenants","status":"publish","type":"post","link":"https:\/\/goldenpi.com\/blog\/guide\/bond-covenants\/","title":{"rendered":"Understanding Bond Covenants: The Fine Print That Determines Risk"},"content":{"rendered":"
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\ud83d\udcdd Quick Summary:<\/div>\n

<\/span>Bond covenants, not credit ratings, are what actually protect your money in Indian corporate bonds. This guide breaks down affirmative and negative covenants, technical default triggers, and how SEBI’s 2025 debenture trustee rules changed monitoring, with a covenant-reading checklist for Indian bond investors.<\/strong>\u00a0<\/span><\/h2>\n<\/div>\n\n\n

If you\u2019ve ever chosen a corporate bond or an NCD in India simply because it had an \u201cAA\u201d or \u201cAAA\u201d rating, you\u2019re not alone; you\u2019ve acted as retail investors often would. The rating tells you about the rating agency\u2019s opinion of the company on the day the rating was assigned. It is a snapshot of the company at that point in time. Many things can happen after the rating is assigned. <\/p>

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