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.
“I’m no good at being noble, but it doesn’t take much to see that the problems of three little people don’t amount to a hill of beans in this crazy world. Someday you’ll understand that.”
—Julius J. Epstein, U.S. screenwriter, Philip Epstein, screenwriter, Howard Koch, screenwriter, and Michael Curtiz. Rick Blaine (Humphrey Bogart)