Usually means: Minimizing the significance or importance.
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We found 10 dictionaries that define the word understating:

General (9 matching dictionaries)
  1. understating: Merriam-Webster
  2. understating: Collins English Dictionary
  3. understating: Vocabulary.com
  4. understating: Wordnik
  5. understating: Cambridge Advanced Learner's Dictionary
  6. understating: Wiktionary
  7. understating: Dictionary.com
  8. understating: Cambridge Essential American English Dictionary
  9. understating: TheFreeDictionary.com

Business (1 matching dictionary)
  1. understating: Legal dictionary

(Note: See understate as well.)

Definitions from Wiktionary (understate)

verb:  (transitive) To state (something) with less completeness than needed; to minimise or downplay.
verb:  (transitive) To state (something) with a lack of emphasis, in order to express irony.
verb:  To state a quantity that is too low.
▸ Also see understate


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