Report of Independent
Registered Public Accounting Firm
To
the Shareholders and Board of Trustees of
Credit
Suisse High Yield Bond Fund
In planning and performing our audit of the financial
statements of Credit Suisse High Yield Bond Fund (the Company) as of and for
the year ended October 31, 2024, in accordance with the standards of the Public
Company Accounting Oversight Board (United States) (PCAOB), we considered the
Company’s internal control over financial reporting, including controls over
safeguarding securities, as a basis for designing our auditing procedures for
the purpose of expressing our opinion on the financial statements and to comply
with the requirements of Form N-CEN, but not for the purpose of expressing an
opinion on the effectiveness of the Company’s internal control over financial
reporting. Accordingly, we express no such opinion.
The management of the Company is responsible for
establishing and maintaining effective internal control over financial
reporting. In fulfilling this responsibility, estimates and judgments by
management are required to assess the expected benefits and related costs of
controls. A company’s internal control over financial reporting is a process
designed to provide reasonable assurance regarding the reliability of financial
reporting and the preparation of financial statements for external purposes in
accordance with U.S. generally accepted accounting principles. A company’s
internal control over financial reporting includes those policies and
procedures that (1) pertain to the maintenance of records that, in reasonable
detail, accurately and fairly reflect the transactions and dispositions of the
assets of the company; (2) provide reasonable assurance that transactions are
recorded as necessary to permit preparation of financial statements in
accordance with U.S. generally accepted accounting principles, and that
receipts and expenditures of the company are being made only in accordance with
authorizations of management and directors of the company; and (3) provide
reasonable assurance regarding prevention or timely detection of unauthorized
acquisition, use or disposition of a company’s assets that could have a
material effect on the financial statements.
Because of its inherent limitations, internal control
over financial reporting may not prevent or detect misstatements. Also,
projections of any evaluation of effectiveness to future periods are subject to
the risk that controls may become inadequate because of changes in conditions,
or that the degree of compliance with the policies or procedures may
deteriorate.
A deficiency in internal control over financial reporting
exists when the design or operation of a control does not allow management or
employees, in the normal course of performing their assigned functions, to
prevent or detect misstatements on a timely basis. A material weakness is a
deficiency, or a combination of deficiencies, in internal control over
financial reporting, such that there is a reasonable possibility that a
material misstatement of the Company’s annual or interim financial statements will
not be prevented or detected on a timely basis.
Our consideration of the
Company’s internal control over financial reporting was for the limited purpose
described in the first paragraph and would not necessarily disclose all
deficiencies in internal control that might be material weaknesses under
standards established by the PCAOB. However, we noted no deficiencies in the
Company’s internal control over financial reporting and its operation,
including controls over safeguarding securities, that we consider to be a
material weakness as defined above as of October 31, 2024.
This report is intended solely for the
information and use of management and the Board of Trustees of Credit Suisse
High Yield Bond Fund and the Securities and Exchange Commission and is not
intended to be and should not be used by anyone other than these specified
parties.
/s/ ERNST & YOUNG LLP
New
York, New York
December
26, 2024