Hot Pursuit
Thomas Cook (India) Ltd. announced that CRISIL Ratings has reaffirmed its ratings on various instruments, including Long Term at CRISIL AA/Stable, Short Term at CRISIL A1+, and a Corporate Credit Rating of Rs. 50 crore at CRISIL AA/Stable, all with RBI approvals, alongside reaffirming the Commercial Paper at CRISIL A1+. The rating agency also noted an expected consolidated operating income to sustain above Rs. 7,500 crore over the medium term, with Rs. 2,650 crore in cash and short-term investments as of June 30, 2026, and highlighted the company’s benefits from support from Fairfax Financial Holdings Ltd., rated ‘A-/Stable’ by S&P Global Ratings, alongside a stable outlook and expectations of moderation in EBITDA margins remaining above 5% in fiscal 2027, while also reaffirming ratings on several subsidiaries and debt instruments across IndusInd Bank Limited, ICICI Bank Limited, Kotak Mahindra Bank Limited, and RBL Bank Limited.