Mortgages are not typically corporate debt. Mortgages are by definition collateralized. Therefore, there are covenants triggers related to the value of the coll

Mortgages are not typically corporate debt. Mortgages are by definition collateralized. Therefore, there are covenants triggers related to the value of the collateral. The vast majority of corporate debt (bonds) is unsecured. There is no collateral. https://corpgov.law.harvard.edu/2020/01/27/the-decline-in-secured-debt/ https://corpgov.law.harvard.edu/2020/01/27/the-decline-in-se...