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Last Updated : Sep 27, 2019 12:47 PM IST | Source: Moneycontrol.com

Thomas Cook rises nearly 6% as CRISIL keep rating unchanged

Thomas Cook India (TCIL) is a completely separate entity from Thomas Cook UK post acquisition of 77 percent stake by Canada based Fairfax Financial Holdings in 2012.

 
 
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Shares of Thomas Cook (India) rose nearly 6 percent intraday on September 27 after CRISIL reported that the rating of the company remained unaffected despite Thomas Cook PLC announced filing for compulsory liquidation.

Thomas Cook India (TCIL) is a completely separate entity from Thomas Cook UK post acquisition of 77 percent stake by Canada based Fairfax Financial Holdings in 2012. While TCIL is a brand licensee of 'Thomas Cook' brand in India, there exists no shareholding or business linkage between the two companies.

CRISIL believes that the liquidation of the UK-based entity should not have a material impact on TCIL's credit profile. Hence, ratings of TCIL remain unaffected as the bankruptcy of Thomas Cook PLC in United Kingdom has no linkage with the company.

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At 12:11 hrs Thomas Cook (India) was quoting at Rs 143.30, up Rs 2.95, or 2.10 percent.
First Published on Sep 27, 2019 12:47 pm
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