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Thomas Cook debt-holders scramble for protection against default

Reuters  |  LONDON 

By Helen Reid, Josephine Mason and Sarah YoungLONDON (Reuters) - The cost of insuring debt issued by Thomas Cook against default hit a record high and its bonds tumbled on Tuesday, as worries about the travel company's borrowings deepened following its second profit warning in as many months last week.The world's oldest tour operator said last week it was not in breach of its banking agreements, its lenders remained supportive and it had enough breathing space to handle the debt.The British company, which employs more than 21,000 people, declined to comment on Tuesday. Last week, Thomas Cook ...

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First Published: Tue, December 04 2018. 19:14 IST