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Letter of Comfort |
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Letter of Comfort 1. Before or during a new issue, a statement by an auditor stating that, while a full audit has not been done, a review of the issue's prospectus has revealed nothing inaccurate or misleading. The letter of comfort also states that the auditor is confident that a full audit would not uncover anything unusual that would negatively affect the issue. 2. A letter that a parent company submits to a bank on behalf of a subsidiary. When the subsidiary is applying to borrow funds from the bank, the letter of comfort states that the parent company approves of and supports the application. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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