Credit Hold checkbox at customer Header

We know that the credit hold check box at customer header level will restrict the booking og orders, but how about the orders which are already booked and are in pick, release and pack stauts or Awaiting  shipping or pick confirmation status?? will credit hold check box at customer header level restrict all the statuses of the order? To simply the question, need to understand the impact of the checkbox for each stage of O2C cycle Quick response is highly appreciated. Thanks, Nags