The ratings continue to reflect the group's healthy business risk profile, driven by a dominant position in the forex business and strong brand equity in travel-related services; comfortable capital structure; and strong liquidity. Madhavan Menon, chairman and managing director of TCIL said: "CRISIL's assigned and reaffirmed ratings continue to reiterate the strong leadership and financial position of the independent Thomas Cook India Group since its acquisition by Fairfax Financial Holdings in 2012.The report further highlights key strengths including its dominant position in the forex business and strong brand equity in travel-related services along with its comfortable capital structure." CRISIL CCR is a globally recognised rating of an issuer, indicating its degree of strength and ability to honour its debt obligations.