letter of comfort definition

  • noun:
    • a kind of page popular in the 1980s addressed to a lender providing some form of reassurance about the place of a borrower (or prospective debtor). Such a letter is written by somebody substantial particularly a parent organization or significant shareholder, it is perhaps not an assurance and usually not a legally enforceable task (rendering it used almost useless, however lenders at numerous times have discovered such letters comforting).
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