When a bond or other financial derivative defaults, the recovery amount is the amount that the underlying company can afford to pay. This is usually a result of a liquidation of the company's assets and generally results in a lower amount than the par value.
Famous quotes containing the words recovery and/or amount:
“Walking, and leaping, and praising God.”
—Bible: New Testament Acts, 3:8.
Referring to the miraculous recovery of a lame man, through the intervention of Peter.
“The best liar is he who makes the smallest amount of lying go the longest way.”
—Samuel Butler (1835–1902)