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.
References in periodicals archive ?
Summary: New Delhi [India], Mar 15 (ANI-NewsVoir): Anil Khaitan, President, PHD Chamber of Commerce and Industry expressed his disappointment over RBI's announcement on discontinuation of Letters of Undertaking (LoUs) and Letters of Comfort (LoCs) for trade credits for imports into India as it will impact trade facilitation in the economy.
3 billion are backed by Baowu Steel's letters of comfort.
AS the ex-home secretary Theresa May knows exactly what deals were done to sign the Good Friday agreement and who cannot be prosecuted or indeed even investigated, she knows who are carrying letters of comfort and what dirty deeds were done.
Could it be that any inquiry would expose the dirty deals of politics, and see the letters of comfort many IRA killers are carrying around become a worthless bit of paper?
We raise that finance on commercial terms, with no sovereign guarantees or letters of comfort.
Around 200 of these so-called letters of comfort were sent to republicans following requests from Sinn Fein.
Defending the controversial letters of comfort, Mr Blair said they were critical at a time when he believed the peace process had irrevocably collapsed - just months before power was handed back to the region's Executive.
The auctions were to be held in January but got delayed after the ministry of the environment turned down the demand of the finance and coal ministries to issue letters of comfort to prospective bidders that it would give all the requisite approvals within a fixed time frame.
Mrs Maryon Jones, Arberth, Dolgellau, together with her sons Dylan and Dewi and other members of the family wish to acknowledge gratefully the many indications of sympathy extended to them, be it through cards and letters of comfort, or the kind words and acts of kindness expressed on the death of her husband David (Dei) on the 27th of January.
Chipperfield now sends letters of comfort to the sick and housebound and messages of encouragement to those who've recently moved from the parish, wishing them well in their new abodes.
It also helps the Indian subsidiary in contracting debt, by providing letters of comfort to its bankers.
WALKER John Richard Marie and family would like to thank all family, friends and neighbours for their kindness, prayers and cards and letters of comfort at this sad time, also for the kind donations to the Heart and Cancer Funds and to the doctors and nursing staff of James Cook University Hos- pitafor their care of John.