问题如下：
In the event of default, the recovery rate of which of the following bonds would most likely be the highest?
选项：
A.First mortgage debt
B.Senior unsecured debt
C.Junior subordinate debt
解释：
A is correct.
First mortgage debt is senior secured debt and has the highest priority of claims. First mortgage debt also has the highest expected recovery rate. First mortgage debt refers to the pledge of specific property. Neither senior unsecured nor junior subordinate debt has any claims on specific assets.
请问这个在ppt哪一页？能发一下吗？找不到了
