Litotes
Pronunciation : Li"to*tes
Part of Speech : n.
Etymology : [NL., fr. Gr. (Rhet.)
Definition : Defn: A diminution or softening of statement for the sake of avoiding censure or increasing the effect by contrast with the moderation shown in the form of expression; as, " a citizen of no mean city," that is, of an illustrious city.
Source : Webster's Unabridged Dictionary, 1913