Fitch rates Thomas Cook BB-

Fitch Ratings said it assigned Thomas Cook Group plc a long-term issuer default rating and senior unsecured rating of BB-.

The outlook is stable.

The ratings reflect the company's strong market position as one of the leading travel groups in Europe, Fitch said.

The ratings also consider the group's geographical diversification and scale, which gives it strong bargaining power with its suppliers and hoteliers, the agency said.

But Fitch said it considers risks associated with the tour operating industry as high, due to significant exposure to macro economic factors in its source markets and external shocks, Fitch added.

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