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Thomas Cook India’s CRISIL A1+ Rating Reaffirmed: Strong Liquidity & Growth Momentum

Updated: June 14, 2025 11:54

Image Source: APN News
CRISIL has reaffirmed Thomas Cook India’s A1+ rating, citing healthy liquidity, strong financial recovery, and robust business expansion. The rating upgrade reflects betterthanexpected revenue growth, driven by postpandemic travel resurgence and cost optimization strategies.
 
Key Highlights:
  • Rating Upgrade: CRISIL upgraded Thomas Cook India’s longterm rating to AA/Stable and shortterm rating to A1+, reinforcing its financial stability and market leadership.
  • Revenue Surge: The company’s revenue jumped 164% in fiscal 2023, reaching ₹5,091 crore, with hospitality and digital imaging segments surpassing prepandemic levels.
  • Liquidity Strength: Thomas Cook India maintains strong liquid surpluses, ensuring financial resilience amid industry fluctuations.
  • Parent Support: The company benefits from Fairfax Financial Holdings’ backing, enhancing its creditworthiness and expansion potential.
  • Market Leadership: Thomas Cook India continues to dominate the travel and foreign exchange sectors, leveraging digital transformation and strategic cost management.
With travel demand soaring and financial fundamentals strengthening, Thomas Cook India is wellpositioned for sustained growth in the evolving tourism landscape.
 
Sources: CRISIL, Thomas Cook India, BW Hotelier.

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