Definition of letter of comfort in English:
An assurance about a debt, short of a legal guarantee, given to a bank by a third party.
- He accessed the financial guarantees through a letter of comfort from Anglo Irish Bank and took a 60 per cent shareholding in Dublin Waterworld.
- The Bank had a letter of comfort from his solicitors dealing with the compulsory purchase matter.
- Tilney said BR, which has been operating under financial constraints for many years, suffered another blow in 2002 when Sail withdrew its letter of comfort to the bank.
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