Crisil Ratings Upgrade Thomas Cook India

Crisil Ratings has upgraded the long-term bank facilities and corporate credit rating of Thomas Cook India to 'positive' from 'stable'. The upgrade follows a ratings boost for their parent company, Fairfax Financial Holdings, by S&P. Improved operating performance and financial risk profile contributed to this positive outlook.

PTI | Mumbai | Updated: 13-06-2024 19:43 IST | Created: 13-06-2024 19:43 IST
Crisil Ratings Upgrade Thomas Cook India
AI Generated Representative Image
  • Country:
  • India

Crisil Ratings has revised its outlook on Thomas Cook India's long-term bank facilities and corporate credit rating from 'stable' to 'positive'. The reaffirmed ratings were announced in tandem with an upgrade to Fairfax Financial Holdings by S&P Global Ratings.

The upgraded ratings for Fairfax, the parent company, were attributed to strengthened capital adequacy, enhanced by robust earnings and diversified credit criteria. Thomas Cook India's improved operating performance—marked by increased revenue, reduced costs, and better operating margins—also played a crucial role in the rating revision.

The company's financial risk profile has seen significant enhancement due to sustained operating performance, reflected in its adequate capital structure and strong liquidity. This comprehensive improvement has positioned Thomas Cook India for a promising future.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

Give Feedback