Thomas Cook (India) Ltd. maintains CRISIL ratings, withdrawing corporate credit ratings

Thomas Cook (India) Ltd. has announced reaffirmations of its ratings from CRISIL and Crisil Ratings, with CRISIL maintaining its "CRISIL AA/Stable" rating for the Long Term and "CRISIL A1+" for the Short Term, including the Commercial Paper program, while withdrawing the Corporate Credit Rating. Simultaneously, Crisil Ratings reaffirmed its "Crisil AA/Stable" rating for Bank Facilities and "Crisil A1+" for the Commercial Paper Programme, also withdrawing the Corporate Credit Rating following a company request; the OCCRPS of Rs 436 crore was converted, with Rs 303 crore converted to equity in prior periods. The company’s consolidated operating income is expected to decline by 2-5% in fiscal 2027, while EBITDA margin is expected to remain above 5%, and S&P Global Ratings maintains a rating of A-/Stable for the parent company, Fairfax Financial Holdings Limited.