Thomas Cook India Achieves Historic Credit Rating Upgrade
Thomas Cook India has been upgraded by CRISIL from a 'Positive' to 'Stable' long-term rating following a substantial 11% revenue growth, reaching Rs 8,251 crore in FY25. This milestone is the highest credit rating in the company's history, reflecting robust financial health and effective capital management.
- Country:
- India
On Wednesday, Thomas Cook (India) Ltd announced that CRISIL, a credit rating agency, has upgraded its long-term and corporate credit ratings to 'Stable' from 'Positive'.
Despite the reaffirmation of its short-term rating at CRISIL A1+, the company's long-term outlook has improved, fueled by a reported 11% year-over-year revenue growth, totaling Rs 8,251 crore in FY25. This growth was driven by strong demand across its business segments, particularly in travel, which saw a 15% rise, achieving Rs 6,469 crore.
The strategic upgrade follows financial performance boosts and reflects the rating upgrade on the parent company, Fairfax Financial Holdings Ltd, by S&P Global Ratings. Mahesh Iyer, Managing Director & CEO of Thomas Cook India, noted this as a historic achievement, marking the highest credit rating for any travel and tourism company in India.
(With inputs from agencies.)
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