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:
“With any recovery from morbidity there must go a certain healthy humiliation.”
—Gilbert Keith Chesterton (1874–1936)
“How can we help a child change from undependable to dependable, from a mediocre student to a capable student, from someone who won’t amount to very much to someone who will count for something. The answer is at once both simple and complicated: We treat a child as if he already is what we would like him to become.”
—Haim Ginott (20th century)