Credit Ratings

29 March 2011

Thomas Cook Group plc

Credit Ratings

Thomas Cook Group plc today announces that it has received long term corporate credit ratings of BB- from Standard & Poor's Ratings Services and BB- from Fitch Ratings. The outlook assigned to each rating is stable. The same ratings have also been assigned to the €400 million senior unsecured notes due 2015 and the £300 million senior unsecured notes due 2017. 

Paul Hollingworth, Group CFO, commented, "These inaugural credit ratings, whilst reflecting the external challenges that the travel industry faces from time to time, also recognise

Thomas Cook's strong portfolio of businesses, with no.1 or no. 2 positions in its key markets and its flexible, asset-light business model. We remain committed to improving the Group's financial profile, in particular by maintaining our strong focus on cashflow."

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