Moody's assigns B1 rating to Thomas Cook's new EUR300 million notes; affirms B1 corporate family rating with stable outlook
London, 28 November 2016-- Moody's Investors Service, has today assigned a B1 instrument rating to Thomas Cook plc's new 5.5 year EUR300 million senior unsecured notes as well as a B1-PD probability of default rating. Concurrently, Moody's has affirmed Thomas Cook's B1 corporate family rating. "We have affirmed the B1 corporate family rating with a stable outlook despite Thomas Cook's lower operating profitability in FY09/2016 when assessed on a like-for-like.Thomas Cook Group is a travel company. Co.'s segments include: Group Tour Operator, which includes tour operations and associated activities within Co.'s 17 source markets; and Group Airline, which provides airline-related services, including both scheduled and charter services, and associated activities within Co.'s four airlines.
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