ICRA upgrades rating of Thomas Cook India

MUMBAI: Ratings agency ICRA has upgraded travel company Thomas Cook India’s long term rating to AA/Stable’ from ‘ICRA AA-/Stable’ for the company’s Rs 200 crore non convertible debenture (NCD) programme.

"The rating of 'AA' from ICRA is a reassurance of our sound business fundamentals and efficient execution. The ICRA rating represents our strong market credibility and sound financial management," Madhavan Menon, managing director, Thomas Cook India said in a press statement.

Thomas Cook is an integrated travel and travel related financial services company offering a range of services which include foreign exchange, corporate travel, MICE, leisure travel, insurance, visa & passport services and e-business.