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Ratings

Cox & Kings Ltd receives 'CARE AA (Double A)' rating from Credit Analysis & Research Ltd (CARE)

Mumbai, October 19th 2010: Cox & Kings Ltd, one of the oldest travel companies, has received upgraded 'CARE AA (Double A)' ratings from Credit Analysis & Research Ltd. (CARE Ratings) to the Non - Convertible Debenture (NCD) issue of the Company amounting to Rs. 800 cr. Instruments with this rating indicate high safety for timely servicing of debt obligations and carry very low credit risk.

CARE has also reaffirmed 'PR1+ (PR One plus)' to Commercial Paper (CP) issue of the Company amounting to Rs. 150 cr, for a maturity not exceeding one year. Instruments with this rating indicate strong capacity for timely payment of short-term debt obligations and carry lowest credit risk.

About Cox & Kings Ltd: (BSE: 533144 | NSE: COX&KINGS) Cox & Kings Ltd., is one of the oldest travel companies whose distinguished history began when it was appointed as general agents to the regiment of Foot Guards in India under the command of Lord Ligonier, it handled the Royal Cavalry, Artillery and Infantry, Royal Wagon Train, the Household Brigade, the Royal Navy and the Royal Air Force also came under its wings.

It is a premium brand in all travel related services, employing over 1,400 professionals headquartered in India. The business can be broadly categorized as Leisure Travel, Corporate Travel, MICE, Trade Fairs, Visa Processing and Foreign Exchange.

The company is networked through a mix of branch sales offices, franchised sales shops, General Sales Agents (GSAs), and Preferred Sales Agents (PSAs). The company has 14 branch sales offices located in Mumbai, New Delhi, Chennai, Kolkatta, Bangalore, Hyderabad, Ahmedabad, Jaipur, Kochi, Pune, Nagpur and Goa. The company has also appointed 94 franchisees across 20 states covering 70 cities. Its extensive network of 185 GSAs and PSAs covers all major towns and cities of India.

It has subsidiaries in UK, Germany, Australia, New Zealand, Japan, USA, UAE and Singapore and operates from Moscow (Russia), Maldives and Tahiti through branch offices and Spain, Sweden, New York, Italy, France, South America and South Africa through representative offices.

The company owns Tempo Holidays Australia, East India Travel Company in North America, ETN in the UK and Quoprro Global Services Private Limited. In December 2009, it also acquired MyPlanet Australia Pty Ltd and Bentours International Pty Ltd in Australia.

Over the last two years the company has won many awards. In January 2010, it won the Most Admired Tour Operator Award at SATTE 2010, in New Delhi. In 2009 it won the Best Domestic Tour Operator, Most Innovative Travel Company and the Best Inbound Tour Operator Award at the TAFI-Travel Biz Monitor Awards. It won the Today's Traveller Platinum Award for the most Innovative Travel Company and has also won the Economic Times Award for the best Outbound Tour Operator in India.

For further details on this release, please contact:
Cox and Kings Ltd

Thomas C Thottathil
Head - Corporate Communications
thomasct@coxandkings.com
Tel: 91-22-22637500

Adfactors PR, Mumbai
Neha Goenka / Rama Naidu
neha.goenka@adfatorspr.com
rama.naidu@adfactorspr.com
Tel: 91- 22- 2281 3565