Protective Covenants

Protective covenants:

A) are primarily designed to protect bondholders from future actions of the bond issuer.
B) only apply to bonds that have a deferred call provision.
C) are limited to stating actions which a firm must take.
D) are consistent for all bonds issued by a corporation within the United States.
E) are primarily designed to protect the issuing corporation from unreasonable demands of bondholders.