Finance and Investment
Southern Water has this morning welcomed an announcement that funds managed by Macquarie Asset Management have agreed to invest an additional £550 million of equity into the Southern Water group.
Fitch Ratings agency has published a new report on Kemble Water Finance Ltd - whose operating company (opco) is Thames Water – Kemble is expected to be the most vulnerable Fitch-rated holding company in the UK water sector.
Moody's Investors Service has downgraded to B2 from B1 the backed senior secured rating of the GBP400 million medium term notes due 2026, issued by Thames Water (Kemble) Finance PLC (Kemble). The outlook remains negative.
Fitch Ratings has downgraded the financing company of Southern Water Services Ltd senior secured class A rating to 'BBB' from 'BBB+' and is maintaining the Negative Outlook.
S&P Global Ratings has this morning placed its 'BBB' and 'BB+' issue ratings on Thames Water's class A and class B debt on CreditWatch with negative implications, indicating S&P could lower the ratings by one notch in the absence of sufficient clarity on the management transition and timing of additional equity support from shareholders.
- Report warns Ofwat’s early view of how much it will cost water companies to raise finance to deliver investment at PR24 could be too high
- Pension Insurance Corporation plc invests £50 million in Portsmouth Water to finance construction of Havant Thicket Reservoir
- Fitch downgrades Thames Water IDR and senior secured debt to 'B' and revises Outlook to Negative
- Huge financial opportunity revealed from tackling global water crisis - global brands report water-related opportunities worth at least US$436 bn
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Expert Focus
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Thames Water starts work on £20 million pipe upgrade in Islington February 13, 2024
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