Moody’s assigns B1 to Thomas Cook

Moody's Investors Service said it assigned a B1 corporate family rating to Thomas Cook Group plc.

The outlook is stable.

"Our assignment of a B1 corporate family rating to Thomas Cook reflects its solid market position as Europe's second-largest tourism company and the strong improvements in its financial profile since 2012, driven by higher operating profitability and debt reduction," Sven Reinke, Moody's vice president, senior credit officer and lead analyst for Thomas Cook, said in a news release.

"However, the B1 rating also considers Thomas Cook's exposure to declining demand for certain destinations owing to geopolitical risks, which we expect will slow the company's progress against its 2018 profitability targets."

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