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CARE Reaffirms Cox and Kings Commercial Paper Rating to CARE A1+

Cox & Kings Ltd


New Delhi, Delhi, India

Credit Analysis & Research Ltd (CARE), the Rating Agency, has reaffirmed and enhanced the Commercial Paper issue carved out of sanctioned working capital limit of the Company from the existing Rs. 1040 Crores to Rs. 1082 Crores. The Rating has been reaffirmed as CARE A1+ (A One Plus). Instruments with this rating indicate very strong capacity for timely payment of financial obligations and carry lowest credit risk.

CARE has also reaffirmed and enhanced the long term bank facilities of the Company from existing Rs. 1164 Crores to Rs. 1206 Crores. The Rating has been reaffirmed as CARE AA (Double A). Instruments with this rating indicate high safety for timely servicing of debt obligations and carry very low credit risk.

About Cox & Kings Ltd.: (BSE: 533144 | NSE: Cox & Kings)
Cox & Kings Ltd. (‘C&K’) is a leading leisure and education travel group with operations in 23 countries across 4 continents. It is one of the most experienced travel companies in the world, having been in operation since 1758. Headquartered in India, over the last three decades, C&K has transformed itself into a diversified, multinational travel conglomerate with a focus on the new-age global consumer. 

C&K operates in three key verticals; Leisure, Education and Hybrid Hotels.

Leisure - India is best known by the ubiquitous Cox & Kings brand in India, where we are an integrated travel enterprise, offering the best and widest range of travel options to individuals, groups and businesses in the fastest growing major economy in the world.
Leisure - International operates in multiple countries, mainly under the Cox & Kings brand, with a greater focus on premium-end travel.

Education operates under the brand names PGL and NST, among others. PGL and NST are market leaders in experiential learning in the UK and we intend to take these brands across the world; we have recently entered the Australian market.

We operate 16 hybrid hotels in Europe under the Meininger brand. Our unique selling proposition is that we can deliver the urban traveler a clean, safe, stay in a city-centre location at an affordable price. 

Cox & Kings is one of the founding members of the World Travel and Tourism Council (WTTC) and also the member of premier industry associations across the world. Over the years the company has won many awards that stand testimony to its excellence in service.

In 2016 the company has won a string of awards and amongst them are the World Travel Awards for Asia’s Leading luxury Tour Operator, India’s Leading Travel Agency and India’s Leading Tour Operator. Cox & Kings was chosen as ‘Best Tour Operator’ at Travel + Leisure - India’s Best Awards 2016. It recently won the Best Travel Agency Award at the Conde Nast Travel Awards.

Earlier this year, it won the Hospitality India Travel Award for Best Domestic Tour Operator and Best Experiential Travel Company. Cox & Kings Trade Fairs was recognised as Champions of ChinaPlas for 2016, 4th time in a row.

Our Executive Director Ms. Urrshila Kerkar won the Game Changer of the Year Award, and our Director Mr. Peter Kerkar was honoured by the British Travel and Hospitality Hall of Fame in 2015. 
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