India, June 24 -- CRISIL has upgraded the long-term and corporate credit rating (CCR) of Thomas Cook (India) Limited (TCIL) to 'CRISIL AA/Stable' from 'CRISIL AA-/Positive', while reaffirming its short-term rating at 'CRISIL A1+'. This upgrade marks the highest-ever credit rating received by a travel and tourism company in India.
The rating upgrade reflects the company's strong financial performance in FY25, with revenue rising 11% year-on-year to ?8,251 crore from ?7,405 crore in FY24. The travel segment, contributing over 75% of total revenues, recorded a robust 15% growth to ?6,469 crore, while the Forex and Hospitality businesses grew by 8% and 10%, respectively.
Strategic cost optimization initiatives—such as automation and bra...