Letter of Comfort

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 classic literature ?
Jennings no language, within her reach in her moments of happiest eloquence, could have expressed; and now she could reproach her only by the tears which streamed from her eyes with passionate violence--a reproach, however, so entirely lost on its object, that after many expressions of pity, she withdrew, still referring her to the letter of comfort. But the letter, when she was calm enough to read it, brought little comfort.
Seven Seas Technologies, the IT firm awarded the tender in September 2017, is reported to have asked the Ministry of Health to provide it with a "letter of comfort" to present to financial institutions to enable it to get funding, but the government reportedly refused.
The FDF is seeking a 'letter of comfort' from the watchdog to ensure this would not be the case in relation to critical Brexit planning.
But the Committee has heard evidence from witnesses to suggest a letter of comfort from the Lord Advocate would be sufficient to allow these facilities to open - - although the Lord Advocate himself has taken a very cautious approach.
The Manila-based lending agency requires a Letter of Comfort from the IMF to accept the request.
Ali Mohammad Khan said the government is providing another five billion rupees to the corporation as letter of comfort to assist it to function.
Did PM Modi abandon sovereign guarantee or bank guarantee in exchange of only Letter of Comfort," asked Singhvi.
But even if it is $12bn, until we get a letter of comfort from the IMF and the disbursement of funds start, nothing will change on the external account.
India had to settle with a Letter of Comfort from the French government.
The contingent liability is required as a consequence of needing to provide a Letter of Comfort in order that NEST can secure Master Trust status.
A day after the Centre conceded that there was no sovereign guarantee by the French government backing the deal but only a letter of comfort, Congress President Rahul Gandhi took on Modi, saying the"Chowkidar (watchman) has sold out".
"It has had to get a letter of comfort from the council attesting to the council's commitment to ongoing support, because the trust's net worth is less than PS0.