We don't INTERPRET it. The beauty of it is that we allow the (Church) Fathers, catechisms, canon law etc to interpret it...
St. Alphonsus Liguori "Moral Theology - (Bk. 6):
"But baptism of desire is perfect conversion to God by contrition or love of God above all things accompanied by an explicit or implicit desire for true Baptism of water, the place of which it takes as to the remission of guilt, but not as to the impression of the [baptismal] character or as to the removal of all debt of punishment. It is called 'of wind' ['flaminis'] because it takes place by the impulse of the Holy Ghost Who is called a wind ['flamen']. Now it is de fide that men are also saved by Baptism of desire, by virtue of the Canon 'Apostolicam De Presbytero Non Baptizato' and the Council of Trent, Session 6, Chapter 4, where it is said that no one can be saved 'without the laver of regeneration or the desire for it.'"
1917 Code of Canon Law
On Ecclesiastical Burial - (Canon 1239. 2)
"Catechumens who, through no fault of their own, die without Baptism, are to be treated as baptized."
But you must interpret it as it says quite clearly that "unless they are regenerated to God through the grace of Baptism,... they are born to eternal misery and destruction."
We already refuted the OP's misinterpretation, but as for the great Moral (not dogmatic) theologian St. Alphonsus, in his commentary on Trent's necessity of the Sacraments, as regards the sacraments he states:
"The heretics say that no sacrament is necessary, inasmuch as they hold that man is justified by faith alone, and that the sacraments only serve to excite and nourish this faith, which (as they say) can be equally excited and nourished by preaching. But this is certainly false, and is condemned in the fifth, sixth, seventh, and eighth canons: for as we know from the Scriptures, some of the sacraments are necessary (necessitate Medii) as a means without which salvation is impossible. Thus Baptism is necessary for all, Penance for them who have fallen into sin after Baptism, and the Eucharist is necessary for all at least in desire ( in voto)."
As for Canon Law, post the whole thing....
§ 1. Those who die without baptism are not to be accorded ecclesiastical burial.
§ 2. Catechumens who through no fault of their own die without baptism are to be reckoned as baptized.
§ 3. All baptized are to be given ecclesiastical burial unless they are expressly deprived of same by law.
I will admit that CL 1239.2 confuses me somewhat, personally I think it's error, but whatever it is, it's not teaching a BOD, and in light of 1239.1 it's a far cry from teaching a BOD.
The only way a BOD is salvific, is if you altogether remove the Divine Providence from it.... "
There is no one about to die in the state of justification whom God cannot secure Baptism for, and indeed, Baptism of Water. The schemes concerning salvation, I leave to the skeptics. The clear truths of salvation, I am preaching to you. - Bread of Life by Fr. Feeney