Thames Water has suffered yet another blow in its battle to avoid re-nationalisation after credit ratings agency Moody's downgraded its highest-ranked bonds to junk.
Another agency highlights liquidity concerns after Ofwat bills decisionThames Water has suffered yet another blow in its battle to avoid re-nationalisation after credit ratings agency Moody's downgraded its highest-ranked bonds to junk.
Thames Water is in the grips of a funding crisis and has more than £15billion of debt and has warned it only has enough money to continue trading until the end of May 2025. Moody's said the downgrade was a result of the decision, which contributed to Thames Water's 'weakening liquidity position'.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Thames Water debt downgraded to junk status by Moody's credit agency with effective nationalisation possibleThe utility's problems have been compounded as it is now in breach of its licence requirements, though Thames Water says it was expecting the decision.
Read more »
Henley Regatta: Warning over 'E.coli in River Thames'Thames Water dismisses a study of water quality on the regatta course as 'alarmist'.
Read more »
Thames Water confirms £158m dividend in March amid scramble for fresh fundingThe water company is already under investigation for a smaller £37.5 million dividend payment in October 2023, under new Ofwat rules.
Read more »
Thames Water confirms £158m dividend in March amid scramble for fresh fundingThe water company is already under investigation for a smaller £37.5 million dividend payment in October 2023, under new Ofwat rules.
Read more »
Thames Water prepares debt contingency plan as it warns on cashThames boss Chris Weston says the prospect of special administration remains a 'long way off' but signals much will depend on what the regulator allows the company to charge in return for investment between 2025 and 2030.
Read more »
Thames Water set to seek new funding as debt pile risesWater company chairman says he is focused on 'improving our financial resilience and learning to live within our means'
Read more »